Chase Home Finance said it will no longer fund construction-to-permanent loans for consumers who want to build their own homes.A spokesman for the lender said a decision was made three weeks ago but not publicized. It took its last application in this product line on April 7. Roughly 60 employees based in Chase's Denver office are affected by the change. Some will be offered other jobs at the company. The spokesman declined to provide construction-to-perm origination volumes. "It's not a big part of our overall business," he said. Earlier this year Chase exited the wholesale channel. It remains as a correspondent funder. Based in Iselin, N.J., Chase is a subsidiary of financial services giant JPMorgan Chase.
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