Home / Daily Dose / Dimon Speaks: Mortgage Industry Could be $2 Trillion Higher
Print This Post Print This Post
Video Spotlight

Jamie Dimon: Policies are holding us back from CNBC.

Dimon Speaks: Mortgage Industry Could be $2 Trillion Higher

JPMorgan Chase President and CEO Jamie Dimon had much to say on the state of the U.S. economy at the Delivering Alpha Conference in New York City, according to CNBC.

Lending was the first talking point of Dimon’s interview, who debunked the myth that current economic policy hasn’t affected lending. “Absolutely untrue,” Dimon said. “Any small—any new small business owner has trouble getting a loan. Mortgage lending—I wrote about this, our economists did real work—because of the higher cost of mortgaging, the servicing legal requirements, and less availability, we think mortgage could be $2 trillion higher.”

Dimon went on to say that even if that number were to be halfed to $1 trillion, that would add 10 percent to lending, and would contribute to growth, small business, middle-market, and even “rugs,” along with homebuilding, and new household formation.

“You’re telling me we’re not holding ourselves back? The fact is, we are,” Dimon said. “I do think these things are policy issues,” he continued. “It’s not just the way it is.”

Dimon recognized that Washington is a difficult place, and recommended that thought, analysis, policy, and collaboration was the best way to make progress in moving the industry forward. Consumer and business confidence is on the rise, but Dimon is of the opinion that the Administration should remain focused on the agenda it pitched at the start of its campaign.

You can view the full interview above.

About Author: Joey Pizzolato

Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email joseph.pizzolato@thefivestar.com.
x

Check Also

Women in Housing

Women in Housing Awards Nomination Deadline Extended

There’s still time to help recognize the extraordinary accomplishments of the talented women within the mortgage servicing and housing industries. Click through to learn more about the Women in Housing Leadership Awards, and to submit your nominations.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.