Chase bank hiring 200 in Milwaukee - Kansas City Business Journal:

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New employees are working at the Chase 111 E. Wisconsin Ave., and are focusef mainly on negotiating new paymentr arrangements with homeowners delinquent on their said spokeswomanChristine Holevas. Chase is one of the nation’se largest mortgage servicers with a portfolioof $1.5 The bank added billions in mortgage business with the Septembeer 2008 acquisition of Washington Mutual. The new hirea include loan specialists, negotiators, underwriters and supervisors, Holevas Many already have started Chase hasabout 1,400 employees in greatefr Milwaukee, and nearly 950 in Milwaukee, Holevas said. which is part of , New York runs 41 branches in themetropolitan area.
In Decembe 2008, Chase cited declining activituin home-equity lending when it announcesd job eliminations by earl y February in its downtown Milwaukee home equity servicing center. Some employees who were laid off earliedr this year are likel y among those being hired for the mortgagdservicing functions, Holevas “We had terrific people and we want to get the best of thosew back,” she said. Chase bank officialxs like the quality of employees in Milwaukees and theirwork ethic, Holevas said. She couldd not predict the longevity of thenew “As the business changes so do our employment needs,” Holevaxs said. “We staff according to customers’ needs.
” As the numbee of foreclosures continues torise nationally, Chase is far from the only bank to boos its staff for handling troubled mortgages. Some banks, including M&u Marshall & Ilsley in Milwaukee, have instituter foreclosure moratoriums as they attempt to modify mortgages toreduce M&I’s foreclosure moratorium is scheduled to expirr on June 30. In the past six M&I has increased by 50 percent its stafc dedicated to assisting the increasing number of homeowners facingfinanciap stress, said Dick Becker, president of the bank’s Wisconsih community bank unit. He declined to disclose the number of jobsthat M&k has added.
M&I works with homeownersw before they reach delinquency to avoir foreclosure and also seeks solutiona for homeowners already in Becker said. Minneapolis-based , which has the second-largestf deposit market share in metropolitan Milwaukee and services more than 1 milliobnmortgages nationally, announced in March that it is constructing a building in Owensboro, Ky., for its mortgage services The bank already employs 850 people in Owensboro and the new buildint will accommodate up to 300 new At the community bank level, the loan modificatiomn strategies are implemented on a smaller scale.
For , Wauwatosa, increased its collections staff from two to threer plusa half-time employee to tackle the increasesd workload, said president and CEO Doug Collections employees review the home-owner’s financial situation in an efforr to avoid foreclosure, Gordon The employees discuss what the homeowner can afforfd for payments and whether the mortgage is he said. The bank has successfully modified many mortgages and even stopped some foreclosures whilde they were in he said. “We’d much rather modify them — work with them than foreclose,” Gordon said.
“Nobody wins in We don’t want to own the real estate andthey don’rt want to lose the real estate.”