SCHW

JPMorgan, the nation’s third largest municipal underwriter, and Charles Schwab, one of the world’s largest financial services companies, have joined forces to meet what they see as increasing demand from retail investors in the fixed-income market.

PHH Corp., best known for originating mortgages behind the scenes for household names like Charles Schwab Corp. and Merrill Lynch, plans to expand other home lending channels as industrywide volume tanks.