Smalltownbanker

Messages from the Large Regional Banks

JPM, once the #1 Home Equity lender in the United States, sent letters nationwide this week freezing existing HELOC's even on some of their best customers. No more draws with letters estimating the current value of their customers homes were down as much as 45-50% from the most recent appraisal. Tightening another big notch in the belt. Credit card limits will be next.