JPMorgan Chase said it will hire up to 175 full-time employees for its Cleveland mortgage operations center by yearend.
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According to Crain's Cleveland Business, that maximum number would represent 40% growth in JPM's local work force, which bank spokeswoman Mary Kay Bean estimated at 440.
JPM is one of several mortgage firms that is currently ramping up to handle a wave of refinancings. The company's residential division recently held a job fair in the Northern Virginia area.
JPM ranks third nationwide, among residential funders. It originates loans through all three funding channels but over the past 18 months has severely curtailed its wholesale operation.
