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Business Briefing / Banking

JPMorgan alters home-loan policy

January 14, 2009|Times Wire Reports

JPMorgan Chase & Co. is joining other large U.S. banks in ending home lending through independent mortgage brokers to reduce losses on such loans.

The bank will make loans through its branches and online, and in purchases from other lenders, according to a note sent to brokers by mortgage-lending executives.

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