DBRS Publishes Issuer Profile of Chase Home Finance, LLC

DBRS has today released an issuer profile of Chase Home Finance, LLC (Chase Home Finance), which is an affiliate of JPMorgan Chase & Co. (JPM, collectively Chase).

As of March 2008, Chase’s servicing operations serviced a portfolio of more than six million loans totaling $795 billion. It has very seasoned management, averaging more than 20 years of industry experience, and has been servicing a wide range of residential mortgage products for more than 15 years. Over the past few years, Chase has invested in training and skills enhancements for its staff.

Chase’s servicing operations has its headquarters in Columbus, Ohio. It maintains expanded functionality in Monroe, Louisiana, and offshore growth in Manila, the Philippines. Default functions are handled at various locations worldwide, with its primary national default operations in Irving, Texas, and additional offshore presence in Bangalore, India, and in Panama. The distribution of sites provides Chase with access to broader, more cost effective labor markets nationwide and abroad.

“Chase has traditionally been conservative in its range of product offerings, limiting riskier products such as option adjustable-rate mortgages (ARMs) and teaser-rate mortgages,” notes Kathleen Tillwitz, Senior Vice President, U.S. Structured Finance.

The Chase Home Finance issuer profile provides an overview of the company’s operations, which include loan sourcing, underwriting, servicing, internal controls and performance.

Note:
All figures are in U.S. dollars unless otherwise noted.

The full report providing additional analytical detail is available at www.dbrs.com