Published on 27 Jul 2023 on Business Insider via Yahoo Finance
JPMorgan rides to the rescue again, snapping up mortgages worth $1.8 billion as part of PacWest...
JPMorgan's headquarters in Manhattan.Leonardo Munoz/Getty Images
JPMorgan is set to buy mortgages worth nearly $2 billion in PacWest's merger deal, per Bloomberg.The Wall Street bank will buy the single-family residential loans at a discount.PacWest and the Banc of California are merging in an all-stock deal to form a new, larger lender.
JPMorgan plans to buy mortgages worth $1.8 billion as part of PacWest Bancorp's merger with the Banc of California, Bloomberg reported.