Discover Bank Partners With Chase To Provide Mortgage Loans
May 5, 2004
Discover Bank – Greenwood, Delaware, May 5, 2004….
Discover Bank, the issuer of the Discover®
Card, today announced that it has partnered with
Chase Home Finance to provide competitive mortgage
loan products for Delaware residents in Kent and
Sussex counties.
This partnership allows
Discover Bank, the hometown community bank, to
provide additional experienced loan originators
to help residents with their home purchases and
refinance needs. The added resources derived
from this partnership will extend our product
portfolio and increase loan origination services
for residents. For home buyers in Kent and Sussex
counties, that means:
· Community Home Loans
below market rates
·Minimal down payment requirements
·Mortgage insurance not required for some
products
“It's a special feeling when
a home buyer's mortgage is approved and the house
of their dreams becomes a reality,” said Kathy
Roberts, president of Discover Bank. “By combining
the strength of Discover Bank and Chase, two of
the largest financial services companies in the
community, these mortgages will now be one of
the most competitive lending products offered
in the Delaware market.”
About Discover
Financial Services, Inc.
Discover Financial
Services, Inc., a business unit of Morgan Stanley
(NYSE:MWD), operates the Discover Card brands
and the Discover Business Services network for
its more than 50 million Cardmembers. Discover
Business Services is the largest independent credit
card network in the United States with approximately
4 million merchant and cash access locations.
About Chase Home Finance
Chase
Home Finance is a subsidiary of J.P Morgan Chase
& Co. (NYSE:JPM). J.P. Morgan Chase &
Co. is a leading global financial services firm
with assets of $771 billion and operations in
more than 50 countries.
The firm is a leader
in investment banking, financial services for
consumers and businesses, financial transaction
processing, investment management, private banking
and private equity. A component of the Dow Jones
Industrial Average, J.P. Morgan Chase & Co.
is headquartered in New York and serves more than
30 million consumers nationwide, and many of the
world's most prominent corporate, institutional
and government clients. Information about JPMorgan
Chase is available on the Internet at www.jpmorganchase.com.