|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
|
|
| Over 10,000 Mortgage Jobs Wiped Out
249,400 jobs in January
March 4, 2011
By MortgageDaily.com staff
|
Mortgage employment took a turn for the worse.
Industry-wide headcount came in at 249,400 as of Jan. 31.
The data was delivered by the Department of Labor on Friday.
Mortgage jobs tumbled from a revised 259,700 reported for December.
As of Jan. 31, 2010, the revised number for people working in real estate finance was 260,500.
In the "real estate credit" category, January ended with 192,400 people, falling from a revised 198,000 the prior month.
"Mortgage and nonmortgage loan brokers" numbered 57,000, sinking from December's 61,700, according to the report, which was released by the Labor Department's Bureau of Labor Statistics.
Among layoffs hurting January's numbers were 587 interim employees at Wells Fargo Home Mortgage that were recently let go as a result of diminished refinance demand.
With new loan applications sharply lower at most major mortgage lenders during the fourth quarter, many other employers in the sector likely trimmed their ranks or are in the process of making such painful decisions about production staff.
But people who are exiting the industry apparently have a few more vocational options as overall U.S. employment grew by 192,000 jobs during February. The U.S. unemployment rate was 8.9 percent, improving from 9.0 percent in January. |
next story
back to current headlines
|
Mortgage Broker News | Originator Newsletter
Stories about mortgage brokering and broker programs. Profiles of successful mortgage brokers. Articles about mortgage brokers who excel at other activities. Broker lawsuits and criminal broker activity.
|
|
|
