JPMorgan Removes Lending Barriers in Booming U.S. Markets

JPMorgan Chase & Co., the nation’s largest bank by assets, is easing mortgage lending standards in housing markets hard hit by the crash where prices are surging.

The bank lowered some down payment requirements in Florida, Nevada, Arizona and Michigan because they will “no longer be considered distressed states,” it informed smaller lenders it buys loans from in July. The second-largest U.S. mortgage lender also loosened underwriting requirements for a refinancing program for Federal Housing Administration borrowers.