Chase bank hiring 200 in Milwaukee - The Business Journal of Milwaukee:

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New employees are working at theChasse Tower, 111 E. Wisconsijn Ave., and are focused mainly on negotiating new paymentg arrangements with homeowners delinquent on their said spokeswomanChristine Holevas. Chase is one of the nation’x largest mortgage servicers with a portfolioof $1.5 The bank added billions in mortgagr business with the September 2008 acquisition of Washington The new hires include loan negotiators, underwriters and supervisors, Holevasx said. Many already have startexd training. Chase has about 1,400 employees in greate Milwaukee, and nearly 950 in Milwaukee, Holevaas said. Chase, which is part of , New York runs 41 branches in themetropolitahn area.
In December 2008, Chase cited declining activityin home-equity lending when it announced job eliminations by earl y February in its downtown Milwaukee home equity servicin center. Some employees who were laid off earlierr this year are likely among thosd being hired for the mortgage servicing Holevas said. “We had terrific people and we want to get the best of those back,” she said. Chase bank officials like the quality of employeeas in Milwaukee and thei rwork ethic, Holevas said. She could not predicrt the longevity of thenew jobs. “A s the business changes so do ouremployment needs,” Holevaas said. “We staff accordingt to customers’ needs.
” As the number of foreclosureas continues torise nationally, Chase is far from the only bank to boosgt its staff for handling troubled Some banks, including M&I Marshall Ilsley in Milwaukee, have institutede foreclosure moratoriums as they attempt to modify mortgages to reduce payments. M&I’s foreclosure moratorium is scheduled to expire onJune 30. In the past six M&I has increased by 50 percent its staff dedicated to assisting the increasing number of homeownersx facingfinancial stress, said Dick Becker, president of the bank’s Wisconsinm community bank unit. He declined to disclosee the number of jobsthat M&Io has added.
M&I works with homeowners beforee they reach delinquency to avoidr foreclosure and also seeks solutions for homeownerds alreadyin foreclosure, Becker said. Minneapolis-based , which has the second-largest depositt market share in metropolitan Milwaukee and services more than 1 millio nmortgages nationally, announced in Marchg that it is constructing a building in Owensboro, Ky., for its mortgage services unit. The bank already employz 850 people in Owensboro and the new building will accommodated up to 300new employees. At the communityy bank level, the loan modificationh strategies are implemented on asmallert scale.
For example, , Wauwatosa, increased its collectionw staff from two to three plusa half-time employee to tackle the increased workload, said president and CEO Doug Collections employees review the home-owner’s financial situation in an effort to avoid Gordon said. The employees discuss what the homeownefr can afford for payments and whetherd the mortgageis salvageable, he The bank has successfully modified many mortgagea and even stopped some foreclosures while they were in he said. “We’d much ratherr modify them — work with them than foreclose,” Gordon “Nobody wins in that.
We don’t want to own the real estatse andthey don’t want to lose the real