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Mortgage Employment By State

Analysis of Activity from Jan. 2006 to Dec. 2007
Published Jan. 7, 2008 (updated Jan. 8)


State
2006
2007
Net Both Years
Alaska
0
+10
+10
Arizona
3,791
-2,505
+3,533
California
-5,397
-16,433 (updated 4/8/2008)
-21,330
Colorado
+44
+4
+48
Connecticut
+426
-1,698
-1,148
Delaware
-153
+200
+47
Florida
-444
-2,507
-2,951
Georgia
+19
-1,623
-1,604
Idaho
0
-49
-49
Illinois
-127
-1,738
-1,865
Indiana
-650
-694
-1,344
Iowa
+2,000
-85
+1,915
Kansas
0
-60
-60
Kentucky
+273
-530
-257
Louisiana
0
+130
+130
Maryland
+100
-285
-185
Massachusetts
+150
+47
+197
Michigan
+350
-109 (updated 1/8)
+241
Minnesota
0
-309
-309
Missouri
-25
-655
-680
Nebraska
+150
0
+150
Nevada
0
-547
-547
New Jersey
-17
-697
-714
New York
+459
-2,071
-1,612
North Carolina
+675
-964
+289
Ohio
-24
-845
-869
Oregon
0
-91
-91
Pennsylvania
-47
-313
-360
Rhode Island
0
0
0
South Carolina
-31
-900
-931
Tennessee
-125
-135
-260
Texas
+1,375
+145
+1,520
Utah
0
-36
-36
Virginia
-203
-118
-321
Washington
-1,260
-745
-2,005
Wisconsin
-470
-33
-503
National
-3,585
-50,892 (updated 4/8/2008)
-53,977
TOTAL
-2,746
-87,131
-88,817
  • Positive figures represent net job gains.

  • Negative figures represent net job losses.

  • Reflects mortgage layoffs, hirings and mortgage company closings from Jan. 1, 2006, to Dec. 31, 2007.

  • The data was primarily derived from stories published by MortgageDaily.com

  • With a few individual rounds of layoffs where only national totals were available but states involved were known, half of the layoffs were attributed to the state where the company was based and the rest were distributed among the remaining states.

  • Those layoffs where only national numbers were obtained and no individual states were identified are included in "National."

  • The number of companies involved in layoffs analyzed was 205.

  • 1.08.08 added 63 layoffs from Citizen Bank Mortgage

  • 4.8.08: moved 1,000 First Franklin layoffs to 2007 from Q1 2008


Net Job Losses by Company
2007 (reflects only companies with at least 500 layoffs)

Company
Hirings
Layoffs
Net Job Losses
IndyMac Bancorp
1,270
1,400
-130
Freestand Financial Holding
0
500
-500
MILA Investment Lending
0
500
-500
Morgan Stanley
0
500
-500
Bank of America
450
1,005
-555
Impac Mortgage Holdings
0
612
-612
MortgageIT/Deutsche
0
630
-630
Bear Stearns
0
700
-700
Amstar Mortgage Corp.
0
700
-700
NetBank Inc./Market Street Mortgage
0
740
-740
1st National Bank of Arizona
0
752
-752
Nomura Holdings Inc.
0
800
-800
Silver State Mortgage
0
800
-800
SouthStar Funding LLC
0
800
-800
CIT Home Lending Group
0
850
-850
Fremont Investment & Loan
0
907
-907
LendingTree
0
910
-910
First NLC Financial Services
0
916
-916
Family First Mortgage Corp.
0
941
-941
CFIC Home Mortgage
0
1,000
-1,000
Dana Capital Corp.
0
1,000
-1,000
First Franklin Financial Corp. (added 4.08.08)
0
1,000
-1,000
Secured Funding Group
0
1,000
-1,000
HomeBanc Mortgage
0
1,001
-1,001
Popular Financial/E-LOAN
0
1,071
-1,071
H&R Block Mortgage Corp.
0
1,126
-1,126
Option One Mortgage Corp.
0
1,147
-1,147
Wells Fargo Home Mortgage
0
1,226
-1,226
Delta Financial Corp.
0
1,240
-1,240
NovaStar Financial Inc.
0
1,400
-1,400
Aegis
0
1,500
-1,500
First Horizon Home Loans
0
1,560
-1,560
Accredited Home Lenders
0
1,600
-1,600
HSBC
0
1,760
-1,760
Mortgage Lenders Network USA
0
1,800
-1,800
Citigroup
200
1,915
-1,715
WMC Mortgage
0
1,776
-1,776
SunTrust Banks
178
2,400
-2,222
GreenPoint Mortgage Funding
0
2,341
-2,341
Lehman Brothers/BNC/Aurora
0
2,450
-2,450
National City Corp.
0
2,500
-2,500
Ameriquest
0
2,630
-2,630
Washington Mutual
1,000
4,580
-3,580
Residential Capital LLC
0
4,470
-4,470
New Century
0
5,200
-5,200
First Magnus
0
5,940
-5,940
American Home Mortgage Investment Corp.
50
6,678
-6,628
Countrywide Financial Corp.
2,000
13,665
-11,665




Net Job Gain by Company
2007 (reflects only companies with at least 500 hirings)

Company
Hirings
Layoffs
Net Job Gain
JPMorgan Chase 5,270 805 +4,465



Report Authors:
Sam Garcia, Publisher, MortgageDaily.com
Coco Salazar, Associate Editor, MortgageDaily.com
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.



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