JPMorgan rides to the rescue again, snapping up mortgages worth $1.8 billion as part of PacWest merger

• JPMorgan is set to buy mortgages worth nearly $2 billion in PacWest's merger deal, per Bloomberg. 
• The Wall Street bank will buy the single-family residential loans at a discount. 
• PacWest and the Banc of California are merging in an all-stock deal to form a new, larger lender. 

JPMorgan plans to buy mortgages worth $1.8 billion as part of PacWest Bancorp's merger with the Banc of California, Bloomberg reported. 

The Wall Street bank is set to buy the single-family residential loans at a discount, sources told the outlet. It's unclear whether it plans to hold onto the loans or sell them on.