Chase’s foreclosure “experts”
Marketplace.org did a great piece on the want ads found by various lenders for foreclosure experts, presumably to staff up their operations in light of all the attention they have been getting and the impetus to actually have to review documents rather than just sign them.
But was was interesting about this piece was the comparison of the experience necessary for the positions being advertised.
Moon: So what types of qualifications does one need to be a specialist in foreclosures?
Wang: The types are varied, depending on who’s hiring. We looked at, for instance, GMAC — now Ally Financial — and that bank for instance was hiring a foreclosure specialist and wanted a college degree and three to four years of experience. But then Chase for instance was hiring a quality specialist, someone who would make sure that foreclosures were processed correctly and they were only asking for high school diplomas. So it really depended.
A high school diploma Chase? Really?
Does someone with a high school diploma have even the most basic understanding of what a mortgage is, much less the experience necessary to review mortgage related paperwork for accuracy?
Foreclosure, Ineptitude | admin November 12, 2010
