Patrick Sheehy, a top mortgage executive at Chase, the residential division of JPMorgan Chase, has left the company, National Mortgage News has learned.
Sources close to Sheehy confirmed that he is no longer with the lender, which
Prior to Chase he worked at Norwest Mortgage, the predecessor company to Wells Fargo. Sheehy left Norwest in 1999 after four years on the job.
A source said Sheehy is now “exploring other opportunities.”
New notices pointed out how large learning models could lead real estate businesses to unintentionally violate the Fair Housing Act in a marketing campaign.
The industry hasn't been sure how much of a lift they'd get this spring but a broader slowdown in hiring may help to lower financing costs.
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Rocket Cos. reported an increase in gain-on-sale margin but warned that going forward it is likely to slip back to levels seen in the second half of last year.
The 2022 vintage had a higher percentage of purchase mortgages, as well as 30-year fixed-rate loans versus the 2021 production, an annual Federal Housing Finance Agency report said.
