Mortgage lenders JPMorgan Chase and Wells Fargo both reported strong financial numbers in the second quarter of 2023, reflecting increased activity in the mortgage industry. Despite a slump in Q1, these two institutions have demonstrated the ability to weather the storm better than their counterparts. This is indicative of a larger trend in the sector, where reports of increased revenue and origination volumes suggest that the mortgage market may have turned a corner.
The most important points from this text include:
• JPMorgan Chase and Wells Fargo both reported an increase in mortgage origination volume and revenue in Q2 of 2023.
• This suggests that the first quarter of the current cycle may have been the low point for lenders in the industry.
• Both companies were able to fare better than many of their competitors.
• Reports of increased revenue and origination volumes reflect a positive trend in the sector.
You can read this full article at: https://www.housingwire.com/articles/mortgage-is-getting-better-for-both-wells-fargo-and-jpmorgan/(subscription required)
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