I had a co-worker once tell me, “After a holiday, the only thing that makes me glad to see the people I work with is having just seen the people I am related to.”

Anyone looking for a job should go to www.jpmorganchase.com/careers. According to the San Antonio Business Journal, Chase Bank plans to hire 1,200 mortgage loan officers in 23 states nationwide by the end of 2010. (Of course, that averages out to 100 per month, or four per state per month, but what the heck – they’re still hiring.) “The additional workforce will increase the financial institution’s sales force by 60 percent and will help more Chase customers finance home purchases or reduce their monthly payments through refinances. The new loan officers will be spread across bank branches in 23 states. Chase currently has 1,925 mortgage bankers nationwide.” Chase originates loans through their nearly 5,200 branches, as well as mortgage offices, call centers, and through retail correspondent lenders in all 50 states.

Brokers have a right to be confused. One the one hand they are hearing the “hard sell” by mortgage banks about the demise of the Yield Spread Premium, and the argument that they should join up with an originator who has a warehouse line or two. On the other hand, brokers are watching existing mortgage bankers be squeezed by warehouse lenders, and by large investor net worth requirements. 

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