We’ve received multiple reports that Chase Mortgage Wholesale will be shutting down operations within 45 days and will no longer accept applications as of September 30th. Apparently conference calls are happening nationwide to inform employees today.
If you can confirm these reports please email us at tips@blownmortgage.com.
More, of course, as this develops.
Update: Chase isn’t closing wholesale, rather they’re closing a bunch of ops/sales centers to streamline the operations.
From Chase:
As the leading U.S. wholesale lender in the mortgage industry, we intend to remain your lending resource by making changes to become even more efficient and effective over the long-term.
Today, we are announcing plans to consolidate in four of our existing Wholesale Lending Regional Operations Centers located in Dallas; Charlotte, N.C.; Cleveland; and Orange, Calif. We will expand staffing at these sites to absorb processing from our other four centers. This transition will be complete by year-end.
As anticipated, the national implementation of ChaseLoanCenterSM has created production efficiencies throughout our organization. We expect to take advantage of scale and become more efficient by operating fewer, but larger centers.
What You Can Expect
- Your processes with ChaseLoanCenter will remain the same
- Your processes will remain the same if your business is currently fulfilled in Dallas, Cleveland, Charlotte or Orange
- You will receive specific information about transition, if your business is currently fulfilled in Garden City, N.Y.; Westmont, Ill.; Tampa; or San Ramon, Calif.
- You can count on our ongoing dedication to make this transition as easy as possible
We thank you for your business. We also appreciate your support through this change and look forward to serving your needs far into the future. If you have any questions, please contact your Account Executive.
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