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

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New employees are working at theChase Tower, 111 E. Wisconsimn Ave., and are focused mainly on negotiating new payment arrangementd with homeowners delinquent on their said spokeswomanChristine Holevas. Chase is one of the nation’s largesyt mortgage servicers with a portfolioof $1.5 The bank added billions in mortgagd business with the September 2008 acquisition of Washington The new hires include loan specialists, negotiators, underwritersw and supervisors, Holevas Many already have started Chase has about 1,400 employeess in greater Milwaukee, and nearlyg 950 in Milwaukee, Holevas said.
which is part of , New York City, runs 41 brancheas in the metropolitan InDecember 2008, Chase cite d declining activity in home-equity lendingf when it announced job eliminations by early February in its downtown Milwaukee home equith servicing center. Some employeesa who were laid off earliee this year are likelt among those being hired for the mortgage servicing Holevas said. “We had terrific people and we want to get the best ofthosee back,” she said. Chase bank officials like the qualith of employees in Milwaukee and theitwork ethic, Holevas said. She couldc not predict the longevity of thenew “As the business changes so do our employment Holevas said.
“We staff according to needs.” As the number of foreclosures continues to rise Chase is far from the only bank to boost its stafff for handlingtroubled mortgages. Some banks, including M&oI Marshall & Ilsley in Milwaukee, have instituted foreclosurwe 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 dedicatedc to assisting the increasing number of homeowners facingfinancial stress, said Dick Becker, presiden t of the bank’s Wisconsin community bank He declined to disclose the number of jobs that M&Ik has added.
M&I works with homeownerse before they reach delinquench to avoid foreclosure and also seeks solutions for homeowners already in Becker said. Minneapolis-based , which has the second-larges t deposit market share in metropolitan Milwaukee and servicesw more than 1 millionmortgagesw nationally, announced in March that it is constructing a buildin in Owensboro, Ky., for its mortgage serviceds unit. The bank already employd 850 people in Owensboro and the new buildinyg will accommodate up to 300new employees. At the community bank the loan modification strategies are implemented on asmallee scale.
For example, , increased its collections staff from two to threr plusa half-time employee to tackler the increased workload, said president and CEO Doug Collections employees review the home-owner’s financial situation in an effort to avoi foreclosure, Gordon said. The employees discussz what the homeowner can afforc for payments and whether the mortgagedis salvageable, he said. The bank has successfullty modified many mortgages and even stoppesd some foreclosures while 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’t want to lose the real