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Posted To: Pipeline Press

Huh? You don’t know what a “Gig Line” is? Someone’s buttons, belt buckle and zipper should all line up in the Gig Line. (See? And you say you never learn anything from this commentary!) Something else that is lining up is the manpower of lenders, especially if a lender has the ability to do it. A few weeks ago Quicken shifted staff from its reverse mortgage division and into Rocket Mortgage. And now JPMorgan Chase & Co. is shifting half of its home-equity staff to mortgages to keep up with demand along with increasing its on-time closing guarantee to $2,500 on the retail side. According to the article, Chase is planning to hold off on marketing for HELOCs since home-equity lines of credit have declined in popularity. Everyone’s volume is up, rate lock periods…(read more)

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