David Lowman has been named chief executive officer of JPMorgan Chase & Co.’s Global Mortgage business.
Lowman has 25 years experience in the lending and mortgage businesses and has been president and CEO of CitiFinancial International since 2004, the company said.
Chase originates $150 billion in mortgages and home equity annually, and services a portfolio of more than $500 billion in residential mortgages and home equity. The home mortgage division of Chase serves borrowers in 44 states through 2,000 local loan officers in 260 mortgage offices and 3,000 bank branches, as well as 275 representatives in call centers.
Lowman began his career as an auditor at KPMG Peat Marwick serving financial services firms. He then worked for 11 years at Prudential Home Mortgage, serving as CFO and in key roles in mortgage operations and wholesale lending, and on re-engineering and conversion initiatives.
He joined CitiMortgage as managing director of Servicing in 1996 and was promoted to president and COO in 1998. By the end of 2000, Citigroup’s mortgage originations had increased dramatically and Lowman was named chief servicing and technology officer for CitiGroup’s U.S. Mortgage Business. There, he helped reduce operating costs, boost servicing revenue and integrate the origination and servicing operations and technology platforms of Associates First Capital.