Although JPMorgan (JPM) had to take various losses in its real estate and credit card portfolios this quarter, the management was quick to say that everything was in-line with previous estimates given by the company.
One area that’s coming in worse than expectations: prime mortgages.
The chart below shows the increasing level of delinquencies in this category, and though they previously said per-quarter losses could hit a high of $475 million, they now see think it could go as high as $500 million. In this quarter, prime-category losses were just $312 million.
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