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JPMorgan Seeks to Pour $750 Billion Into Housing in Next Decade
['Hannah Levitt', 'Min Read']
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It will also advocate for "pro-growth housing policies," including by joining the US Chamber of Commerce's Housing Advisory Council as chair.
JPMorgan's plans mark the latest facet of its "American Dream Initiative" announced earlier this year.
The program aims to expand economic opportunity and spans across six focus areas, including housing, small businesses and financial health.
Multifamily lending accounted for more than half of JPMorgan's commercial real estate exposure at the end of the first quarter.
On the residential side, JPMorgan — already the largest home lender among its bank peers — plans to hire 850 home-lending advisers as it seeks to increase residential mortgage by more than 45%.