Chase Manhattan Mortgage Corporation Opens Phase Two Construction At Easton Center

Business Wire, Sept 10, 2001

Business Editors

COLUMBUS, OH--(BUSINESS WIRE)--September 10, 2001

Chase Manhattan Mortgage Corporation ("CMMC") will celebrate the official opening of the second phase of its Mortgage Center expansion with a ribbon-cutting ceremony and reception at the Easton Office Park facility on Monday, September 10 at 10:30 a.m. A tour of the company's new state-of-the-art, back-up childcare center - the first in Ohio - will follow.

CMMC President and CEO Stephen J. Rotella will host the event, which will be attended by Governor Bob Taft, Congresswoman Deborah Pryce, JPMorgan Chase Vice Chairman David A. Coulter, Executive Vice President Glenn Mouridy, and Servicing Executive Terry Gentry, as well as members of the business community. In recognition of Chase's contribution to the Ohio economy, Governor Taft will present an e-Corridor flag to Chase executives, making Chase an official stop along Ohio's e-Corridor trail.

"Chase Manhattan represents a story of growth, expansion and success in Ohio," Governor Taft said. "Ohio was delighted a few years ago when Chase chose our state as the place to headquarter its new mortgage servicing center. We are pleased that Chase is expanding even more within the state. Clearly, Ohio has been a good place for Chase to do business."

The opening of the new building more than doubles the size of the CMMC facility, which first opened in 1998 and now features 500,000 square feet. Nearly 2,300 employees work in the facility supporting over 4 million mortgage customers nationwide.

"Since we opened our Easton facility in 1998, we've experienced tremendous growth," said Mr. Rotella. "Columbus has been a great place for us to do business and this new space makes even more growth possible."

Chase Manhattan Mortgage is the third largest mortgage servicer in the United States. The Mortgage Servicing division is headquartered in Columbus, with centers in Cleveland, Ohio; Deerfield Beach, Florida; Horsham, Pennsylvania; Monroe, Louisiana; and San Diego, California. More than 5,000 employees in these locations handle mortgage-related processes, including customer service and escrow services. In addition to the center in Columbus, Chase Manhattan Mortgage's Manufactured Housing Division and other businesses are located in Cleveland, OH. Including the Cleveland site, there are more than 3,000 Chase employees in Ohio.

"Today's expansion of this facility here in Columbus significantly adds to JPMorgan Chase's overall standing as a leading edge mortgage servicer nationwide," added Mr. Coulter.

After the ribbon-cutting ceremony, Governor Taft and Congresswoman Pryce will tour Chase's back-up childcare center, where employees can safely leave their children when other childcare is unavailable or when school is out. It is the first center of its kind in the state. The Columbus center, which has capacity for more than 50 children, is part of an expanding national network. JPMorgan Chase has opened 13 back-up childcare centers since 1994 in response to requests from employees. A back-up childcare center was recently opened in Chase's Louisiana facility as well.

"We at Chase have attracted the best workforce in the Columbus area and we are committed to retaining our unparalleled workforce by providing this emergency daycare facility and remaining an `Employer of Choice' in this region," commented Mr. Mouridy.

Chase Manhattan Mortgage Corporation, with headquarters in Edison, New Jersey, is currently the nation's largest residential mortgage lender and third largest servicer. It employs more than 11,500 people in major servicing and operations sites and over 280 offices across the country. The Chase home finance businesses include first mortgage, home equity and manufactured housing loans.

Chase Manhattan Mortgage Corporation is a subsidiary of J.P. Morgan Chase & Co., a leading global financial services firm with assets of $713 billion and operations in more than 50 countries. The firm is a leader in investment banking, asset management, private equity, custody and transaction services, retail and middle market financial services, and e-finance. Headquartered in New York, JPMorgan Chase serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients.