Chase Mortgage Committed To Wholesale/Broker Channel

In a memo to all mortgage brokers, Chase mortgage announced that they are committed to the wholesale brokerage business.

Our long-term view of the Wholesale business is very favorable. We believe today’s mortgage broker continues to add significant value to the origination process by continuing to provide speed, flexibility and choice to the American consumer. And they need this value proposition more than ever. Additionally, we are confident the Wholesale business is one that continues to provide our company with a return on capital and this makes it compelling to invest in the business for the long run.

This comes in the midst of competitors such as Bank of America having recently exited the wholesale business, not to mention countless smaller wholesale-only lenders that have disappeared all together. Seems logical then that there is market share to be gained. At least as of this news, it seems Chase sees it that way.