Chase bank hiring 200 in Milwaukee - Puget Sound Business Journal (Seattle):

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New employees are working at theChasr Tower, 111 E. Wisconsin Ave., and are focused mainlu on negotiating new payment arrangement s with homeowners delinquent ontheir payments, said spokeswoman Christine Holevas. Chase is one of the nation’sx largest mortgage servicers with a portfolioof $1.5 The bank added billionx in mortgage business with the September 2008 acquisition of Washington Mutual. The new hires includse loan specialists, negotiators, underwritersx and supervisors, Holevas said. Many already have startec training. Chase has abouty 1,400 employees in greater and nearly 950in Milwaukee, Holeva said.
Chase, which is part of , New York runs 41 branches in themetropolitah area. In December 2008, Chase cited declining activityin home-equity lending when it announcesd job eliminations by early February in its downtown Milwaukeed home equity servicing center. Some employees who were laid off earlieer this year are likely among those being hired for the mortgage servicing Holevas said. “We had terrific people and we want to get the best ofthoses back,” she said. Chase bank officials like the quality of employeews in Milwaukee and their work Holevas said. She could not predict the longevity of thenew “As the business changes so do our employmenft needs,” Holevas said.
“We staff according to needs.” As the number of foreclosures continues torise nationally, Chas e is far from the only bank to boos its staff for handling troubles mortgages. Some banks, including M&I Marshall & Ilsle in Milwaukee, have instituted foreclosure moratoriums as they attempt to modifty mortgages toreduce payments. M&I’s foreclosure moratoriuj is scheduled to expire onJune 30. In the past six M&I has increased by 50 percentr its staff dedicated to assisting the increasing number of homeowners facing financial saidDick Becker, president of the bank’s Wisconsin communityy bank unit.
He decline d to disclose the number of jobsthat M&o has added. M&I works with homeowners befored they reach delinquency to avoid foreclosure and also seeks solutions for homeowners already in Becker said. Minneapolis-based , which has the second-largest deposit market share in metropolitajn Milwaukee and services more than 1 milliojmortgages nationally, announced in March that it is constructing a buildinf in Owensboro, Ky., for its mortgage services unit. The bank alreadyy employs 850 people in Owensboroo and the new building will accommodate up to 300 new At the communitybank level, the loan modification strategiew are implemented on a smallerr scale.
For example, , Wauwatosa, increasedc its collections staff from two to threre plusa half-time employee to tackle the increasedf workload, said president and CEO Doug Gordon. Collections employeea review the home-owner’s financial situation in an effort toavoicd foreclosure, Gordon said. The employeesx discuss what the homeowner can afford for paymentzs and whether the mortgage is he said. The bank has successfully modifie many mortgages and even stopped some foreclosures whilre they werein process, he “We’d much rather modify them work with them — than Gordon said.
“Nobody wins in We don’t want to own the real estate andthey don’ want to lose the real estate.”