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May 11, 2006

Chase launches Fixed-Rate Lock Option for home equity linesMortgagePress.comFixed-rate locked home equity lines Chase has launched the Fixed-Rate Lock Option, a feature of its home equity lines of credit, for new and current customers. The feature, which carries no setup charge, allows the borrower to lock in a fixed interest rate for up to five years simultaneously or for the entire amount of his line. The interest rates on locked segments do not increase, and borrowers make equal monthly payments, similar to installment loans. Chase, a subsidiary of JPMorgan Chase and Company, is a consumer and commercial bank based in New York. For more information, call (888) 342-4273 or visit www.chase.com.

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May 11, 2006

Analysis and Data

Mortgage Industry Despairs Over Positive Jobs Report

Leading to 'crushed' expectations of another significant rate cut

The September jobs report came back with flying colors, adding far more jobs than Wall Street economists projected while the unemployment rate ticked down, leading to what can only be called a crushing defeat for mortgage professionals. In response, the average rate for the ...

People On The Move

Pennymac Shakes Up Capital Markets Team

William Chang, Pennymac’s long-time capital markets leader, to "pursue other interests in the mortgage banking industry."

PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust announced Thursday that William Chang will step down from his roles as Senior Managing Director and Chief Capital Markets Officer at PFSI, and Senior Managing Director and Chief Investment Officer at PM...