JPMorgan’s Dimon threatens to quit FHA loans

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During a conference call with analysts, Dimon reiterated his call for further changes to mortgage rules, saying that fixes to problems in FHA and other regulations could unleash a wave of growth in the market. "It’s not going back to subprime, it’s just opening up the credit box and reducing the cost of the average mortgage," Dimon said.

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Discontinuing Monthly Mortgage Insurance Premium Payments. Many homebuyers ask FHA if they can stop paying FHA monthly mortgage insurance premiums with their mortgages. FHA insures mortgages so that lenders will be encouraged to make more mortgages available for people. The FHA mortgage insurance agreement is between FHA and the mortgage company,

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FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier.

JPMorgan’s Dimon threatens to quit FHA loans An FHA insured loan is a US Federal Housing administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender. fha insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that.

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Jamie Dimon, the chief executive of JPMorgan Chase, said Wednesday that the bank was profitable in January and February, echoing a similar statement made earlier this week by Vikram Pandit, chief executive of Citigroup.. Mr. Dimon’s comment, made to CNBC in a telephone interview, encouraged Wall Street, where stocks ended with modest gains after trading lower.