Published On: April 7, 2008
Mortgage Employment By StateAnalysis of Activity from Jan. 2008 to March 2008
Published April 7, 2008
(last revised July 5, 2008)
|
|
|
State
|
Layoffs
Q1 2008
|
Hirings
Q1 2008
|
Net
Q1 2008
|
|
|
|
| Alaska |
0
|
0
|
0
|
|
+10
|
0
|
| Arizona |
100
|
0
|
-100
|
|
-2,505
|
3,791
|
California
-3/2008 Added 200 Fortes hires
-4.8.08: moved 500 First Franklin layoffs to 2007
-5.21.08: added 345 Impac layoffs per earnings stmt |
4,340
|
425
|
-3,915
|
|
-16,433
|
-5,397
|
| Colorado |
150
|
0
|
-150
|
|
+4
|
+44
|
| Connecticut |
0
|
0
|
0
|
|
-1,698
|
+426
|
| Delaware |
0
|
0
|
0
|
|
+200
|
-153
|
| Florida |
1,539
|
0
|
-1,539
|
|
-2,507
|
-444
|
| Georgia |
60
|
0
|
-60
|
|
-1,623
|
+19
|
| Idaho |
0
|
0
|
0
|
|
-49
|
0
|
| Illinois |
132
|
0
|
-132
|
|
-1,738
|
-127
|
| Indiana |
294
|
0
|
-294
|
|
-694
|
-650
|
| Iowa |
415
|
0
|
-415
|
|
-85
|
+2,000
|
| Kansas |
200
|
0
|
-200
|
|
-60
|
0
|
| Kentucky |
0
|
0
|
0
|
|
-530
|
+273
|
| Louisiana |
0
|
0
|
0
|
|
+130
|
0
|
| Maine |
90
|
0
|
-90
|
|
0
|
0
|
| Maryland |
115
|
0
|
-115
|
|
-285
|
+100
|
| Massachusetts |
0
|
0
|
0
|
|
+47
|
+150
|
| Michigan |
63
|
100
|
37
|
|
-109
|
+350
|
| Minnesota |
125
|
0
|
-125
|
|
-309
|
0
|
| Missouri |
194
|
0
|
-194
|
|
-655
|
-25
|
| Montana |
80
|
0
|
-80
|
|
0
|
0
|
| Nebraska |
0
|
0
|
0
|
|
0
|
+150
|
| Nevada |
0
|
0
|
0
|
|
-547
|
0
|
| New Jersey |
684
|
0
|
-684
|
|
-697
|
-17
|
| New York |
300
|
75
|
-225
|
|
-2,071
|
+459
|
| North Carolina |
65
|
0
|
-65
|
|
-964
|
+675
|
| Ohio |
0
|
0
|
0
|
|
-845
|
-24
|
| Oregon |
50
|
0
|
-50
|
|
-91
|
0
|
| Pennsylvania |
0
|
0
|
0
|
|
-313
|
-47
|
| Rhode Island |
0
|
0
|
0
|
|
0
|
0
|
| South Carolina |
0
|
0
|
0
|
|
-900
|
-31
|
| Tennessee |
80
|
0
|
-80
|
|
-135
|
-125
|
| Texas |
250
|
100
|
-150
|
|
+145
|
+1,375
|
| Utah |
0
|
18
|
18
|
|
-36
|
0
|
| Virginia |
0
|
0
|
0
|
|
-118
|
-203
|
| Washington |
15
|
0
|
-15
|
|
-745
|
-1,260
|
| Wisconsin |
45
|
0
|
-45
|
|
-33
|
-470
|
|
|
6,018
|
481
|
-5,537
|
|
-50,892
|
-3,585
|
|
TOTAL
|
15,404
|
1,199
|
-14,205
|
|
-87,071
|
-2,746
|
|
- Positive figures represent net job gains.
- Negative figures represent net job losses.
- Reflects mortgage layoffs, hirings and mortgage company closings from Jan. 1, 2008, to March 31, 2008.
- 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 47.
- 3/2008 Added 400 Fortes hires
4.8.08: moved 1,000 First Franklin layoffs to 2007
4.21.08: increased Nat City layoffs by 987 per earnings statement
5.12.08 added 256 Chase LO hirings
5.21.08: added 690 Impac layoffs per earnings stmt
|
|
Net Job Losses by Company
|
Company
|
Layoffs
|
Hirings
|
Net Job Change
|
| 1st Choice Mortgage |
75
|
0
|
-75
|
| Aurora Loan Services LLC |
1,602
|
0
|
-1,602
|
| B.F. Saul Mortgage |
50
|
0
|
-50
|
| Bank of the West |
46
|
0
|
-46
|
| Bank United Financial Corp. |
200
|
0
|
-200
|
| Bear Stearns |
142
|
0
|
-142
|
| Beazer Mortgage Corp. |
60
|
0
|
-60
|
| Bismark Mortgage Co. |
15
|
0
|
-15
|
| Capital One Financial Corp. |
43
|
0
|
-43
|
| Centennial Mortgage and Funding |
125
|
0
|
-125
|
| Citigroup – CitiMortgage |
853
|
0
|
-853
|
| Citizen Bank Mortgage Loan Operations |
63
|
0
|
-63
|
| Countrywide Financial Corp. |
431
|
0
|
-431
|
| Downeast Mortgage Corp. |
90
|
0
|
-90
|
| Eastern American Mortgage |
10
|
0
|
-10
|
| E-LOAN Inc. |
21
|
0
|
-21
|
| Fidelity Home Mortgage Corp. |
50
|
0
|
-50
|
| First Franklin Financial Corp. (4.8.08 moved 1,000 layoffs to 2007) |
650
|
0
|
-650
|
| First Horizon National Corp. |
160
|
0
|
-160
|
| First Houston |
0
|
100
|
100
|
| First Madison Mortgage |
65
|
0
|
-65
|
| First National Mortgage Sources |
1,000
|
0
|
-1,000
|
| First NLC Financial Services |
700
|
0
|
-700
|
| Fortes Residential Mortgage Co. (add hiring per expansion 7/08 story) |
0
|
400
|
400
|
| Global Mortgage Inc. |
500
|
0
|
-500
|
| GreenPoint Mortgage Funding |
43
|
0
|
-43
|
| Home Loan Center Inc. – LendingTree LLC |
119
|
0
|
-119
|
| Impac Mortgage Holdings (added May 21 headcount decrease per earnings stmt) |
690
|
0
|
-690
|
| IndyMac Bancorp Inc. |
2,403
|
0
|
-2,403
|
| JPMorgan Chase & Co. (5.12.08 added 256 Chase LO hirings)
|
624
|
256
|
-368
|
| Lend America |
0
|
75
|
75
|
| Lydian Mortgage |
49
|
0
|
-49
|
| Maverick Residential Mortgage |
650
|
0
|
-650
|
Morgan Stanley
Saxon Mortgage Inc. |
1,000
|
0
|
-1,000
|
| National City Corp. (increased layoffs by 987 on 4.21.08 per earnings statement) |
1,088
|
0
|
-1,088
|
| NovaStar Financial Inc. |
194
|
0
|
-194
|
| Option One Mortgage Corp. |
317
|
0
|
-317
|
| Paragon Home Lending |
45
|
0
|
-45
|
| Preferred Home Mortgage Co. |
75
|
0
|
-75
|
| Primary Residential Mortgage Inc. |
0
|
18
|
18
|
| Residential Mortgage Capital |
35
|
0
|
-35
|
| ResMAE Mortgage Corp. |
182
|
0
|
-182
|
| Secured Bankers Mortgage Co. |
46
|
0
|
-46
|
| Shore Mortgage |
0
|
100
|
100
|
| SunTrust Banks |
86
|
0
|
-86
|
| Unique Mortgage Solutions |
65
|
0
|
-65
|
| Washington Mutual |
381
|
0
|
-381
|
Wells Fargo Home Mortgage
Wells Fargo Bank N.A.
Wells Fargo Home & Consumer Finance |
361
|
0
|
-361
|
| WSB Mortgage |
0
|
50
|
50
|
|
TOTAL
|
15,404
|
999
|
-14,405
|
|
|
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|
Report Authors:
Sam Garcia, Publisher, MortgageDaily.com
Natalie Merrill, Staff Writer, MortgageDaily.com
