(NEW YORK, NY) -- Good news today on the mortgage broker hiring front.
Chase, the third largest commercial real estate lender in the U.S., plans to hire 1,200 mortgage loan officers by the end of 2010.
Chase is the U.S. consumer and commercial banking business of New York-based JPMorgan Chase & Co., a 200-year-old financial institution
David B. Lowman
"...We have invested in new systems, aggressively grown our capacity and now are looking to increase our sales force. With our vast branch network and growing customer base, the opportunity for Chase loan officers is tremendous."
Lowman adds, "With nearly 5,200 bank branches -- one of the largest networks in the country -- we need to ensure each branch has seasoned mortgage professionals to help meet the needs of their communities and is well positioned when the housing market fully recovers.
"We see the mortgage business as core to our relationship with consumers and expect to be a major leader in the industry for many years to come."
The added staff will increase the bank's sales force by 60 percent and will be focused on helping Chase customers finance home purchases or reduce their monthly payments through refinances.
The bank's new loan officers will serve customers through bank branches in 23 states -- including key states such as California, Florida, and Texas, and key metro areas such as New York and Chicago - as well as metro markets outside the bank's branch footprint, such as Boston, St. Louis, and Washington D.C.
The new staff will help consumers meet their home financing needs by working with personal bankers and referral sources, such as real estate agents and builders, as well as with their own network of homeowners, Lowman says.
Jay Brinkmann
Brinkmann told the media employment in the mortgage industry fell to a new low this past summer. New hiring has been confined largely to freelance and contract workers, and any full-time hires were offset by mergers, consolidations and layoffs, DSNews.com reported on Brinkmann's remarks.
The U.S. Bureau of Labor Statistics backed up Brinkmann's comments. Mortgage firms eliminated 6,100 full-time jobs from their payrolls in August.
DSNews.com previously reported the number of mortgage workers nationwide had actually risen in July, to 267,300. But the drop in August left the full-time ranks of bankers and brokers at a new low of 261,200.
Chase originated $37.1 billion in mortgages in the last quarter. The company also services $1.1 trillion of home loans.
The bank is currently accepting applications to fill its new home lending positions through its parent company's Web site.
Leave a comment