On Monday, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 1.23% to $68.89.
Chase declared it is simplifying its jumbo loan product and lowering FICO and downpayment requirements for those loans. A buyer with a FICO of 680 or higher looking to purchase a single-family property can now put as little as 15 percent down. Formerly, single-family homebuyers were required to have a minimum FICO of 740 with 20 percent down payment.
Chase rolled out easy-to-understand guidelines for primary and second-home loans, investment properties and cash-out finance loans. Part of a firm-wide simplification process, the new loan guidelines reflect Chase’s thorough analysis of market and borrower risk.
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Management.
Shares of MBIA Inc. (NYSE:MBI), inclined 7.69% to $6.44, during its last trading session.
MBIA stated Combined Operating Income (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) of $19 million or $0.11 per diluted share for the second quarter of 2015 contrast with Combined Operating Income of $2 million or $0.01 per diluted share for the second quarter of 2014. The improvement in Combined Operating Income for the three months ended June 30, 2015 contrast with the same period of 2014 was driven primarily by a lower tax provision, as the 2014 quarter had a higher effective tax rate due to a tax reserve enhance. In addition, higher refunding premiums earned and lower expenses, counting a 53 percent reduction of loss and loss adjustment expenses, contributed to the improved 2015 results. The Company’s share repurchases further contributed to the enhance in Combined Operating Income per share.
Adjusted Book Value (ABV) per share (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) was $27.00 as of June 30, 2015 contrast with $25.78 as of March 31, 2015 and $24.87 as of December 31, 2014. The enhances in ABV per share since year-end 2014 have primarily been driven by decreases in common shares outstanding. During the first and second quarters of 2015, the Company repurchased 8.6 million and 11.6 million, respectively, of its common shares.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments.
Finally, Total System Services, Inc. (NYSE:TSS), ended its last trade with 0.87% gain, and closed at $47.36.
Total System Services and Acquirer Systems recently declared the launch of ASTREX, a new testing solution that simplifies the EMV® certification process for both Value-Added Resellers (VARs) and Integrated Software Vendors (ISVs). Developers can now use a streamlined approach to integrate with TSYS’ current testing environment, where ASTREX provides a robust card brand simulation tool with real-time results. The efficient testing functionality cuts EMV certification time in half.
As an EMV payments simulation platform, developers can test a full range of transactions and network scenarios. This powerful and comprehensive testing solution eliminates complex integration steps with its scalability, and also reduces overall EMV implementation costs. ASTREX gives VARs and ISVs the peace of mind that their POS solutions will qualify for EMV certification on the first attempt.
The TSYS and Acquirer Systems solution provides VARs and ISVs with a sustainable method of validating their payments ecosystems through tests conducted from a familiar, easy-to-use workspace that requires no further password administration or secondary login information. VARs and ISVs will receive robust support from the TSYS Developer Services team – both during and after the integration – to further reduce overall EMV implementation costs.
Total System Services, Inc. provides electronic payment processing services to banks and other financial institutions in the United States, Europe, Canada, Mexico, and internationally. It operates through four segments: North America Services, International Services, Merchant Services, and NetSpend.
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