You might remember Dave Lowman as the guy who told homeowners after a House committee hearing last year, "Come to me," and then "ran like a dog with his tail between his legs,"when 50 homeowners approached (mobbed) him during a hearing about foreclosure practices, according to someone who was there.
JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who was sidelined in February after the bank racked up billions of dollars in losses on soured mortgages and became mired in litigation over a wave of foreclosures.
JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who was sidelined in February after the bank racked up billions of dollars in losses on soured mortgages and became mired in litigation over a wave of foreclosures.
"Dave Lowman and I have decided he will leave the firm," Frank Bisignano, the bank's chief administrative officer, said in a memo that was sent to bank staff on Tuesday.
A copy of the memo was obtained by Reuters.
"He worked here during extraordinary times and has said he will take some much needed time off," the memo said.
Lowman had joined JPMorgan from Citigroup in 2006. During his tenure at JPMorgan, the bank picked up bad mortgage assets through its acquisitions of investment bank Bear Stearns & Co and retail bank Washington Mutual.
Read more on PR Disaster David Lowman's blunders that led JP Morgan Chase to show him the door. Click here.
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