Chase Bank is reinforcing its mortgage loan team by hiring an additional 1,200 loan officers in order to deal with the increased demand for home loans as more and more families face foreclosure and other housing loan problems.
New Loan Service Expansion
The expansion to Chases loan services that accompanies the hiring of the 1,200 new officers will expand the bank’s operations to 23 states, including key states such as California, Florida, Texas and the metro areas of New York and Chicago. In addition, they will also be expanding in areas outside the bank’s immediate footprint, such as Boston, St. Louis and Washington, D.C.
The home lending team is trained to help customers meet their home financing needs by working with personal bankers and real estate agents to finance home purchases or reduce monthly payments. Chase home loan offers many advantages that allow them to provide the best service to their customers, including:
- The financial strength of parent company JPMorgan Chase enables lending to an array of customers – from exclusive union member relationships, to being a top FHA mortgage lender, to having a strong jumbo portfolio capability.
- Chase is the nation’s third-largest lender, originating $37.1 billion in mortgages in the last quarter.
- 43 percent of U.S. households are near a Chase branch.
- 55 percent of the nation’s real estate offices are within five miles of a Chase branch.
- The new patent-pending Chase Exclusives 1% Mortgage Cash Back offer can save homeowners thousands and shorten their mortgage by months by paying them 1% of their scheduled monthly principal and interest mortgage payment annually.
These new contracts have increased the JP Morgan Chase sales force by 60% and is planned to be complete by the end of 2010. Chase has stated that it wants to be sure that its branches are adequately staffed and ready to handle the increased flow of customers when the housing market recovers.