Chase Brings on 250 to Servicing Center
JP Morgan Chase (JPM) bucked a national trend of shaving head counts as it continues to participate in the federal government’s Home Affordable Modification Program (HAMP). Since it began offering mortgage modifications through HAMP in April, Chase modified 138,000 loans currently in the program’s trial period and as of June said an additional 155,000 applications are in the review process. To handle an increase in demand for loan refinancing and modifications, Chase brought on 250 temporary workers to its mortgage servicing center in Monroe, La. The bank hired the employees under its “Chase Works” program, which employs workers on a temporary basis, but some may have the ability to transition to permanent employment, company spokesman Greg Hassell told HousingWire. The 250 new employees join a staff of 900 at the servicing center. The bank employs an additional 750 at a nearby call center, as well as 200 other retail banking workers. The new employees will perform document imaging and record management tasks to support the bank's modification and refinancing efforts. Write to Austin Kilgore. Disclaimer: The author held no relevant investments at the time of publication.