Leaving the tarnishing trading losses scandal behind, JPMorgan Chase has recorded an impressive 34 per cent in previous three months.

Jamie Dimon, the chief executive officer of JPMorgan Chase announced a strong quarterly result backed by an increase in mortgage lending. Mr. Dimon has been working to turn the page over the multibillion-dollar trading loss scandal in May that angered investors. The bank faced investor anger as well asn investigations from federal agents.

The bank recorded an increase of 34 per cent in profits to $5.71 billion mostly due to increased mortgage lending in the country. The mortgage banking unit of the bank recorded a growth of 57 percent from a year earlier.

The company’s overall earnings of $1.40 a share was more than Wall Street’s estimates for the quarter and its revenue stood at 6 percent to $25.9 billion compared to the same quarter of the previous year. The rise in the country’s leading bank is positive indication for the US economy. According to the latest figure released, the number of foreclosure filings in the US has fallen to its lowest level in five years.

The total number of reported default notices, scheduled auctions, and bank repossessions added together to 180,427, which is its lowest level since the July of 2007. The level is 7 per cent lower than the previous month and 16 percent from September of 2011.