Chase bank hiring 200 in Milwaukee - Denver Business Journal:

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New employees are working at theChaswe Tower, 111 E. Wisconsin Ave., and are focused mainly on negotiating new paymenft arrangements with homeowners delinquent on their said spokeswomanChristine Holevas. Chase is one of the nation’ds largest mortgage servicers with a portfolioof $1.5 trillion. The bank adde d billions in mortgage business with the September 2008 acquisitiom ofWashington Mutual. The new hirews include loan specialists, negotiators, underwriters and Holevas said. Many already have startesd training. Chase has about 1,400 employees in greater and nearly 950in Milwaukee, Holevaes said. Chase, which is part of , New York runs 41 branches in themetropolitaj area.
In December 2008, Chase cited declining activityin home-equity lendingb when it announced job eliminationas by early February in its downtowjn Milwaukee home equity servicing center. Some employeex who were laid off earlier this year are likelg among those being hired for the mortgageservicing functions, Holevas “We had terrific people and we want to get the best of thos e back,” she said. Chase bank officials like the qualityt of employees 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 customers’ As the number of foreclosuresw continues torise nationally, Chase is far from the only bank to boosty its staff for handling troubled Some banks, including M&I Marshall & Ilsley in have instituted foreclosure moratoriums as they attempt to modify mortgages to reduce payments. M&I’s foreclosurre moratorium is scheduled to expir onJune 30. In the past six M&I has increased by 50 percen its staff dedicated to assisting the increasing number of homeowners facing financial stress, said Dick Becker, president of the bank’s Wisconsin communityg bank unit. He declined to disclose the number of jobsthat M&k has added.
M&I workws with homeowners before they reach delinquency to avoid foreclosured and also seeks solutions for homeowners alreadyyin foreclosure, Becker said. Minneapolis-base d , which has the second-largest deposity market share in metropolitan Milwaukee and services more than 1 millionmortgagesd nationally, announced in March that it is constructinb 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 the loan modification strategies are implemented on a smallet scale.
For example, , Wauwatosa, increased its collections staff from two to three plusa half-time employee to tackle the increasedr workload, said president and CEO Doug Collections employees review the home-owner’se financial situation in an effort to avoid Gordon said. The employees discuss what the homeowner can affors for payments and whether the mortgag eis salvageable, he said. The bank has successfull y modified many mortgages and even stopper some foreclosures while they were in he said. “We’d much rather modifh them — work with them than foreclose,” Gordon said. “Nobody wins in that.
We don’f want to own the real estate andthey don’t want to lose the real