The purpose of this article is not to trash on Chase or JP Morgan but I have got to tell you that when I see a Reuters headline “JP Morgan underwrites securities tied to VA loans” it makes me feel like the media is misleading our veteran home buyers yet again.
In the wake of the mortgage meltdown JP Morgan Chase exited the TPO or brokered loans portal and decided almost over night that they would not even honor locked in TPO loans for veterans. I personally had to disappoint numerous military families with this bad news and quickly become the bad guy!
I think all vets, military families, etc should keep in mind that JP Morgan Chase did NOT have veterans and VA loans in their interest a couple of years ago when it was needed the most!
A frustrated VA loan officer