Chase admits morgtage unit broken, appoints new chief

JPMorgan Names New Head for Mortgage Business


Hoping to troubleshoot some of the problems plaguing its mortgage operations, Jamie Dimon on Friday dispatched one of his top lieutenants to oversee the Chase Home Lending business.

Frank Bisignano, JPMorgan Chase’s chief administrative officer, will now add supervising the Chase’s mortgage origination and loan payment collection businesses to his duties managing many activities, like technology and real estate, for the bank. David Lowman, the current head of Chase Home Lending, will retain his title but now report to Mr. Bisignano.

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