|
|
Even as it cuts nonprime positions, JPMorgan Chase & Co. continues to add mortgage originators.
From October through February, the New York-based company has hired 256 new loan officers, spokesman Tom Kelly told MortgageDaily.com. He said 228 of the new hires were recruited from competitors and confirmed 20 of the originators were hired in the Seattle area. Published reports suggest 40 more loan salespeople are planned for the area. In October, Chase announced it had grown its mortgage sales force to more than 5,000 over the prior 12 months. But the company cut 54 subprime jobs and laid off 450 home equity lending employees during March on top of 430 HEL processing jobs it eliminated during October. Overall mortgage industry employment has fallen from 535,400 in October 2005 to 360,100 in March 2008, according to data from the Bureau of Labor Statistics. Chase, which reported $53.8 billion in first-quarter production, ranked as the No. 3 mortgage originator during the first quarter, according to data compiled by MortgageDaily.com. “We will continue to look to hire strong originators,” Kelly added. Related: Chase Cutting Over 450 HEL Jobs Subprime Layoffs at Chase Chase Poised to Increase Market Share Chase Cuts Home Equity Jobs |
FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.
Amortization Calculator
Affordability Calculator
Mortgage Calculator
Refinance Calculator
FHA Mortgage Calculator
VA Mortgage Calculator
Real Estate Calculator
Tags
Pre-Approval Resources!
Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…
Resource Center
Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.
TOP SEARCHED TOPICS
Your mortgages approval starts here.
Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.
Stay Up To Date with Today’s Latest Rates
Mortgage
Today’s rates starting at
Home Refinance
Today’s rates starting at
Home Equity
Today’s rates starting at
HELOC
Today’s rates starting at