JPMorgan Chase revealed that it fell behind in mortgage banking evening in the fourth quarter of 2017, according to a recent report. This shows a decline in servicing business from 2016.
"The company had $1.44 billion of mortgage banking revenue in the fourth quarter, down 15% from $1.69 billion for the same period in 2016," according to National Mortgage News.
"This was 'predominantly driven by lower net servicing revenue and loan spread compression,' a company press release said."
Overall the company saw mortgage banking revenue fall $1.4 billion from 2016.
The company's mortgage banking sector has taken a significant hit, though there is room for improvement in 2018.
To find out more about JPMorgan Chase's struggle with mortgage banking revenue in 2017, click on the image above.