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Chase Helps Originators Build Home Equity Business with Online Training Sessions
By James Comtois
In an industry that's changing rapidly due to the increase of technological presence as well as constantly changing regulatory and compliance issues, several mortgage companies are seeing the value of offering educational services to its customers (such as the Mortgage Bankers Association offering CampusMBA). Chase is no exception.
In order to provide its business-to-business customers extra educational services, Chase has recently expanded its interactive eSummit online training program to cover broker and correspondent home equity customers. The presentations are designed to help participants learn more about the products, features and systems that Chase offers. They also offer real-time access to Chase experts who answer questions online and provide valuable information to help customers expand their businesses.
Held on the first Wednesday of every other month and featuring a rapidly growing range of features and enhancements, the eSummit presentations help keep Chase customers aware of new product developments so they can leverage them in their markets.
According to Walter Galler, vice president of B2B home equity marketing at Chase, the eSummits program launched about 18 months ago in the company's first mortgage prime channel and in 2006 it was expanded to included home equity products for our home equity customers.
"It was content specific to Chase wholesale prime customers. Theoretically a home equity customer could dial in but it was basically limited to first mortgage products. Now we've expanded," said Mr. Galler.
"The Chase eSummit presentations are an excellent way for our customers to stay plugged in to the growing range of product features and enhancements that we offer," said Kimberly Salvo, national sales manager of B2B home equity for Chase in a statement. "It's important to give our customers every possible advantage, including access to timely information. eSummits are another way Chase can help deliver that advantage."
Mr. Galler pointed out that the reason for the expansion was because of "the increase from a customer's perspective in the importance of a broker's and correspondent's view of home equity as a category."
He added that many brokers and correspondents don't always have the time to go to seminar presentations in person and prefer doing most of their work online, hence the expansion of the program. "Not that we don't do this anymore, typically a broker's summit in the B2B wholesale lending channel would be in a hotel room, with a breakfast and presentation. Now, with schedules being what they are today and more and more people doing work online, we felt that this was a value-added service that our customers would want to take advantage of," he said.
As an added bonus, participants in the eSummit presentations are entered into a drawing to win such prizes as Chase-branded merchandise or a 30GB Apple video iPod. Additional information about the eSummit presentations is available at www.chaseb2b.com.
In 2005, Chase generated more than $54 billion of home equity originations through bank branches, brokers, correspondents and mortgage offices. Its parent company, JPMorgan Chase, is a global financial services firm with assets of $1.2 trillion and operations in more than 50 countries.
The last seminars took place on October 4. The next are scheduled for December 4.
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