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Chase to Hire 1,200 Mortgage Officers

POSTED on November 11, 2009

ISELIN, NJ — Here's some good news for job hunters. Chase, one of the nation's leading home lenders, said it plans to hire 1,200 mortgage loan officers by the end of 2010, increasing the sales force 60 percent to help more Chase customers finance home purchases or reduce their monthly payments through refinances.

"We have made a number of strategic investments in our organization," said Dave Lowman, head of home lending at Chase. "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."

Chase originates home loans through more than 5,100 Chase branches, as well as mortgage offices, call centers, and through retail correspondent lenders in all 50 states. The company also services $1.1 trillion of home loans. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co.

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. They 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.

"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," said Lowman. "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."

Chase said its home lending team is well-equipped to serve consumers:

* The financial strength of parent company JPMorgan Chase enables it to continue to lend prudently 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.
* Its 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.