Finance & Mortgage

JPMorgan Chase Receives $100 Million New Markets Tax Credits Award

JPMorgan Chase pledged to further expand its investment to support new jobs and service in low-income communities after receiving the U.S. Treasury Department's largest allocation of tax credits today. Chase received $100 million in the latest round of New Markets Tax Credit awards. The $100 million award was the largest of the $3.6 billion in allocations granted to more than 70 organizations this year.

U.S. Mortgage Rates Rise to 3.95 Percent

U.S. 30-year fixed-rate mortgage rates rose to 3.95 percent in the week ending Feb. 23 from a record low of 3.87 in the previous week, Freddie Mac said.

Mortgage servicer Ocwen reported 2011 revenue rising by 38%

Ocwen Financial Corporation(NYSE:OCN), a leading provider of residential and commercial loan servicing, special servicing and asset management services, reported Net income of $9.7 million, $0.08 per share, for the fourth quarter of 2011, compared to Net income of $9.9 million, $0.09 per share last year on Thursday.