![\"pipeline-press\"](\"http:\/\/mortgagenewsclips.com\/wp-content\/uploads\/2010\/01\/pipeline-press9.png\")
<\/a><\/p>\n\u00a0<\/p>\n The FBI is investigating a possible cyber attack on Citigroup. This is a serious issue, because next time the hackers might target a bank that actually has money. (Just kidding!)<\/p>\n But seriously folks, JPMorgan Chase & Co., the second-largest U.S. bank by assets, announced this morning that its fourth-quarter profit more than quadrupled<\/strong>. Net income increased to $3.28 billion. JPMorgan was the #1 underwriter of stocks and bonds in the US last year, and income from that more than helped offset loan losses in consumer banking and credit cards. And we all know the impact that they\u2019ve had on mortgage lending. Jamie Dimon told investors last month that the credit-card unit could lose about $1 billion a quarter in the first half of 2010, since defaults typically track unemployment.<\/p>\n But in yet another reason why I will never make money day-trading stocks, before the stock market opens JPM\u2019s price is down<\/em>. “I don’t think we can take away from these results that we are any further along in the (economic) recovery than we thought we were,” said one analyst. JPMorgan is the first of the largest U.S. banks to report earnings. Goldman Sachs, Citigroup, Bank of America, and Wells Fargo all come out during next week<\/strong>, with various results expected.<\/p>\n Right now, the futures market is pricing in an 85% chance that the Fed keeps rates somewhere between 0% and .25% through the end of April. With all of the deficit spending going on, not to mention the flood of money that the Federal Reserve has put into the economy, why isn\u2019t inflation (and interest rates) out of control?<\/strong> The deficit spending money has primarily gone into counteracting the sharp decline in consumer and business activity. Our government is borrowing more, but folks like you and me, and businesses, are borrowing less. Besides, many banks are holding on to the money rather than releasing it into the economy in the form of loans. On top of that, productivity is high, wages are stagnant, and overall there is slack in the economy \u2013 so sky-high inflation and rates are a long way off. And, if you think about it, in almost the last 100 years here in the United States, inflation has only been a big issue in the 1970\u2019s.<\/p>\n As one would expect, the NMLS is ruffling feathers out there, and I received comments ranging from \u201cIt is a good thing and originators shouldn\u2019t be hiding anything\u201d to \u201cI can\u2019t believe that I live in such a police state!\u201d An executive from iFreedom Direct Mortgage wrote and said, “I can see the junk mail \/e-mail coming now, and every advertising Joe with access to a computer will be down loading the NMLS\u00a0 list and blasting us with the \u2018latest and greatest\u2019 mortgage money making tool that we simply can\u2019t live without. We will need a NMLS \u2018Don\u2019t Call\u2019 list!\u201d<\/p>\n more news on mortgage brokers, GMAC corrrespondent, rates, the economy, Monday holiday, and joke of the day … <<< CLICK HERE<\/a><\/strong><\/p>\n \u00a0 \u00a0 The FBI is investigating a possible cyber attack on Citigroup. This is a serious issue, because next time the hackers might target a bank that actually has money. (Just kidding!) But seriously folks, JPMorgan Chase & Co., the second-largest U.S. bank by assets, announced this morning that its fourth-quarter profit more than quadrupled. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-183757","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/183757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=183757"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/183757\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=183757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=183757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=183757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"rob-chrisman-daily\"](\"http:\/\/mortgagenewsclips.com\/wp-content\/uploads\/2010\/01\/rob-chrisman-daily9.jpg\")
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