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

subscribe to free Mortgage Daily email newsletter

Q4 2010 Full Report | Mortgage Employment Index


Mortgage Hirings Slammed

DALLAS -- (April 11, 2011) /PRNewswire/ Mortgage sector jobs went from a net gain in 2009 to a net loss last year, according to the Fourth-Quarter 2010 Mortgage Employment Index from, a leading online news publication for the mortgage industry. A huge drop in hirings was responsible for the overall deterioration.

The index, which reflects activity reported by Mortgage Daily, indicated that layoffs in real estate finance outnumbered hirings by 3,100 jobs during 2010.

But last year's losses were nowhere near 2007 -- when layoffs outpaced hirings by nearly 90,000 jobs.

In 2009, hirings exceeded layoffs by more than 8,000.

The deterioration between 2009 and 2010 was the result of a steep dropoff in recruiting -- to just a little over 10,000 hires last year from more than 30,000 a year earlier. Many of the jobs created in 2009 were added to help a growing number of delinquent borrowers.

Year Layoffs Hirings Net
2010 13,400 10,300 -3,100
2009 22,578 30,899 +8,321

Most of last year's losses occurred in the final quarter as a result of falling refinances.

Quarter Layoffs Hirings Net
Q4 2010 6,613 2,989 -3,624
Q3 2010 3,216 2,286 -930
Q4 2009 2,995 5,849 +2,854

The net loss in California exceeded a thousand -- more than any other state. But Texas had a net gain of more than 600 -- better than any other state.

State Net Gain/Loss
CA -1,027
IA -350
FL -195
TX +630
OH +417
TN +110

JPMorgan Chase & Co. had the biggest gain of any lender.

Wells Fargo & Co., meanwhile, began a furious campaign to reduce its production staff. But many of the impacted employees were interim workers temporarily hired to handle increased refinance volume.

Company Net Gain/Loss
Wells Fargo -4,091
Ocwen -1,147
David Stern -560
JPMorgan +759
MetLife +582
PNC +392

Layoffs continue, with Wells Fargo having already disclosed nearly 2,500 first-quarter 2011 mortgage layoffs. In addition, three major lenders have closed reverse mortgage businesses.

The complete Mortgage Employment Index report -- including full tables by state, year and company -- is available at:

Mortgage employment news is available online at:

Founded in 1998, is a leading online news publication for the mortgage industry providing mortgage news and analysis.

Holly Himelright


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.

Public Relations News | PR Agencies | Mortgage Daily Press Releases
Announcements about mortgage industry public relations firms. Stories about building your brand and increasing your exposure.

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

free mortgage 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

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news