MILWAUKEE, June 4, 2012 /PRNewswire/ -- With the economy improving, mortgage rates at near all time lows, and an abundance of homes on the market, the demand for mortgages has grown considerably over the past year. As a result, BMO Harris Bank is planning to hire approximately 100 mortgage loan originators by the end of the year to support customers looking for a new loan or refinance an existing loan.
"It's a great time to buy a house as a long-term investment especially as home affordability is at an all time high," said Brad Chapin, Executive Vice President, Personal Banking, BMO Harris Bank, "Home financing is one of the most significant financial decisions a person makes. Our experienced home lenders are focused on providing customers with the guidance and insight they need to choose a mortgage that is right for them. We are now further expanding this team in all of our key markets to support the continued growth we expect."
While overall consumer demand for loans has increased, BMO Harris Bank has seen a surge in requests for loans as consumers are looking for several choices when financing their home. The bank has launched several product and marketing initiatives targeting the home purchase marketplace in response to consumer demand.
"Consumer reaction to our most recent Spring Campaign offering which provides an interest rate discount to new and existing customers for their home purchase has been tremendous. Our current campaign offering along with our community outreach initiatives have been well received," added Chapin.
In the marketplace, house prices are gaining some momentum again, for existing and new homes sold as seen in the FHFA house price index, and now in the S&P Case-Shiller's measure. House prices in the top 20 metropolitan areas rose for the second month in a row.
In addition to the plans to grow the Mortgage Loan Origination team, BMO Harris Bank recently opened a Government Loan Operations Center currently supporting FHA loans and will be expanding to support Veteran Affairs loans for active and retired military and USDA rural loans later this summer.
For more information on the mortgage loan originator career opportunities, candidates should visit the BMO Harris Bank website www.harrisbank.com/careers.
About BMO Harris Bank
Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank (SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.
SOURCE BMO Harris Bank