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""JPMorgan Chase"":http://www.jpmorganchase.com has dismissed David Lowman, who ran the bank's mortgage operations for over four years.
""Dave Lowman and I have decided he will leave the firm,"" said Frank Bisignano, JPMorgan's chief administrative officer, reported _Reuters_, citing an internal memo to staff obtained by the news agency.
[IMAGE] [COLUMN_BREAK]""He worked here during extraordinary times and has said he will take some much needed time off,"" Bisignano said in the memo.
Following the company's admission that some past foreclosure cases may have contained ""defects"" and ""flawed paperwork,"" which prompted JPMorgan to ""suspend foreclosure actions"":http://dsnews.comarticles/jpmorgan-halts-foreclosures-robo-signers-appear-commonplace-2010-09-30 last fall, and a ""multi-million dollar lawsuit"":http://dsnews.comarticles/jpmorgan-chase-resolves-lawsuit-with-military-families2011-04-25 to settle charges that the company had illegally foreclosed on active military personnel and overcharged servicemembers, CEO Jamie Dimon ordered Bisignano to step in.
Lowman began reporting to Bisignano, and Bisignano added home lending chief to his title.
Lowman joined JPMorgan in 2006 from Citigroup as chief executive officer of the bank's Global Mortgage division. He was promoted just three months later to chief executive officer of Chase Home Lending, where he was responsible for home equity and default, as well as all of Chase's consumer real estate business.
