twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.

Mortgage Sector Loses More Jobs

244,000 mortgage-related jobs during June

Aug. 6, 2010

By staff

For the past few years, the government has reported nearly every month that the mortgage industry contracted. This month was no different. But ridiculously low mortgage rates and a growing backlog of loans in process are placing pressure on lenders to add production personnel.

The U.S. Department of Labor's Bureau of Labor Statistics released monthly employment data today.

According to the report, 244,000 people worked in real estate finance during June. The latest total was lower than a revised 246,500 in May.

U.S. mortgage headcount was down even more sharply when compared to June 2009's revised 264,400 employees.

June's decline was mostly the result of a drop in the number of "mortgage and nonmortgage loan brokers." The bureau reported that broker count fell to 57,400 from 58,900 a month earlier and 66,900 a year earlier.

Meanwhile, the number of people in "real estate credit" fell to 186,600 from May's 187,600 and June 2009's 197,500.

June's mortgage job losses were impacted by up to 600 job cuts as a result of the closing of 300 CitiFinancial branches.

But more recently, a number of mortgage service providers have been growing and hiring.

In addition, the 30-year fixed rate hit a record-low 4.69 percent in June and hasn't stopped falling since. With record-low rates backing up the pipelines of loans in process, the pressure is on to expand production staffs -- though much of the growth will likely occur with temporary positions.

Total U.S. nonfarm payroll employment contracted by 131,000 jobs in July, though factoring out the loss of census workers -- private-sector employment increased 71,000.

U.S. unemployment was unchanged from June at 9.5 percent, according to the government data.

next story

back to current headlines

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders