JPMorgan Chase, the country’s largest lender in terms of assets, said it will raise borrowing standards this week for new mortgage loans amid the Chinese Communist Party (CCP) virus pandemic.
“Due to the economic uncertainty, we are making temporary changes that will allow us to more closely focus on serving our existing customers,” Amy Bonitatibus, chief marketing officer for JPMorganChase’s home lending business, told Reuters in confirming the new borrowing measures.
