Chase bank hiring 200 in Milwaukee - Dayton Business Journal:

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New employees are working at the Chase 111 E. Wisconsin Ave., and are focused mainlyu on negotiating new payment arrangements with homeowners delinquenty ontheir payments, said spokeswoman Christine Chase is one of the nation’ds largest mortgage servicers with a portfoli of $1.5 trillion. The bank added billions in mortgagw business with the September 2008 acquisition ofWashingtonm Mutual. The new hires include loan specialists, underwriters and supervisors, Holevas said. Many already have started Chase hasabout 1,400 employees in greater Milwaukee, and nearlg 950 in Milwaukee, Holevas said. Chase, whichg is part of , New York runs 41 branches in themetropolitan area.
In Decembetr 2008, Chase cited decliningt activityin home-equity lendinv when it announced job eliminations by earlyh February in its downtown Milwaukee home equity servicinb center. Some employees who were laid off earliedr this year are likely among thosew being hired for the mortgage servicing Holevas said. “We had terrific people and we want to get the best ofthoss back,” she said. Chase bank officials like the quality of employeesa in Milwaukee and theirwork ethic, Holevas said. She coulsd not predict the longevity of thenew jobs. “A s the business changes so do ouremploymen needs,” Holevas said. “We staffd according to customers’ needs.
” As the number of foreclosured continues torise nationally, Chase is far from the only bank to boostt its staff for handling troublee mortgages. Some banks, including M&j Marshall & Ilsley in Milwaukee, have institutede foreclosure moratoriums as they attempt to modify mortgages toreduce M&I’s foreclosure moratorium is scheduled to expire on June 30. In the past six M&I has increased by 50 percent its staff dedicated to assisting the increasing number of homeowners facingfinanciaol stress, said Dick president of the bank’s Wisconsin communithy bank unit. He declined to disclose the number of jobsthat M&j has added.
M&I works with homeownerds before they reach delinquency to avoid foreclosurer and also seeks solutions for homeowners already in Becker said. Minneapolis-based , which has the second-largest deposir market share in metropolitan Milwaukee and serviceds more than 1 millionmortgages nationally, announced in Marchb that it is constructing a building in Owensboro, Ky., for its mortgagr services unit.
The bank already employs 850 people in Owensboro and the new buildintg will accommodate up to 300 new At the communitybank level, the loan modificationj strategies are implemented on a smaller For example, , Wauwatosa, increasesd its collections staff from two to three plus a half-tim employee to tackle the increased said president and CEO Doug Gordon. Collections employee s review the home-owner’s financial situation in an effort toavois foreclosure, Gordon said. The employeezs discuss what the homeowner can affors for payments and whether the mortgage is he said. The bank has successfully modified many mortgagesz and even stopped some foreclosures whiled they were in he said.
“We’d much rather modify them work withthem — than foreclose,” Gordon “Nobody wins in that. We don’yt want to own the real estate andthey don’rt want to lose the real