P. Sheridan "Schecky" Schechner is joining J.P. Morgan Chase as national head of origination for commercial mortgage-backed securities in the fall, according to a company spokesman.Mr. Schechner has worked at Goldman Sachs for the last 20 years, and his appointment to the newly created position at Goldman is a "pretty strong symbol we're planning on making a real investment in the business," the spokesman said. In his new position, Mr. Schechner will report to the co-heads of J.P. Morgan Chase's CMBS unit, Steve Schwartz and Brian Baker.
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Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
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The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
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Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
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Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
October 1 -
A Treasury proposal would remove race and ethnicity from the criteria community development financial institutions can use to establish a targeted market population, a move that could affect institutions serving minority communities.
October 1 -
A top official at the Office of Inspector General says significant budget cuts will force large layoffs and essentially eliminate enforcement activities.
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