(RECAP: JPMorgan Chase CEO Jamie Dimon did more than predict a coming economic crisis in his yearly letter to shareholders. In his letter, Dimon also openly questioned why the bank is still in the mortgage business, telling shareholders that one of the main reasons that the megabank is still engaged in mortgage lending is for the benefit of its customers, despite the “volatile” nature of the business and the “increasingly lower returns” coming from mortgages. Dimon goes on to say that the megabank has reduced its number of mortgage offerings from 37 to 15. One of those products that Chase is cutting back on is its Federal Housing Administration lending program. Dimon writes that FHA lending is currently “too costly and too risky” to pursue extensively.)

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