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JPMorgan buys mortgage clearinghouse

Terms of the deal weren’t disclosed

JPMorgan is redoubling efforts to revive a type of mortgage that largely died out after the last financial crisis.

The bank is reinvesting in an electronic clearinghouse for “private-label“ mortgages, which are packaged and sold to investors without a guarantee from a government-backed firm like Fannie Mae. The market has been growing during this year’s hot housing market.

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