Scotiabank is launching a new mortgage capital markets business with JPMorgan Chase Bank executives. Thanh Roettele, a long-time JPMorgan veteran, will lead this initiative.
The move reflects Scotiabank's strategy to enhance its U.S. finance business by hiring seasoned professionals from JPMorgan, aiming to capture a significant portion of the mortgage market.
JPMorgan remains a dominant player in the mortgage warehouse lending sector, holding a 21% market share in early 2024, navigating challenges including the impact of recent banking crises.
The mortgage warehouse lending model offers liquidity to independent mortgage banks but is vulnerable to industry shocks, leading to strategic exits by other lenders like Comerica Bank.
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