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Home-Equity Loans Weigh on JPMorgan

Stock quotes in this article: JPM , C , WM , STI  

JPMorgan Chase's(JPM Quote) roughly $95 billion home-equity portfolio remains a source of trouble for the banking titan.

Executives at its investor day on Wednesday said the New York-based bank would likely charge off $450 million in home-equity loans in the first quarter as a result of declining home prices and rising borrower defaults. That figure could possibly double by the end of the year, the executives said.

JPMorgan Chase charged off $564 million in home-equity loans for all of last year -- nearly half of which was taken in the fourth quarter -- according to presentation materials. ...

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