Mortgage Job Analysis by State – Mortgage Industry Insider from MortgageDaily.com
DALLAS, April 30 /PRNewswire/ Two southwest states appear to be the beneficiaries of a migration of mortgage jobs away from the West Coast, according to a new analysis of layoffs, hirings and company closings by https://www.mortgagedaily.com — the dominant source of online news for the mortgage industry.
MortgageDaily.com analyzed layoffs and hirings involving at least 50 people at 132 mortgage companies from Jan. 1, 2006, to April 27, 2007. Included among the layoffs were employees from companies that have collapsed or closed down.
During the period reviewed, people working in real estate finance dropped by more than 16,000 nationally — with most of the layoffs occurring this year.
The majority of job losses occurred in California — again, mostly during 2007. Layoffs at ACC Capital Holdings, New Century Financial Corp. and Countrywide Financial Corp. fueled much of the decline in the Golden State.
The next biggest decline was in the state of Washington. Leading the decrease there were layoffs at Washington Mutual Inc. and Mortgage Investment Lending Associates, commonly referred to as MILA.
Meanwhile, Texas and Arizona saw net mortgage employment gains during the period analyzed. Countrywide also had a big impact on these two states’ numbers. Hirings at Wells Fargo Home Mortgage helped boost numbers in Iowa.
Partial Table of Findings (figures in thousands):
|
State
|
Total
net gain or (loss) |
| California |
(12.3)
|
| Florida |
(1.5)
|
| New York |
+0.6
|
| Texas |
+2.5
|
|
TOTAL
|
(16.1)
|
Other states in the report include Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin.
The complete report, the methodology used and its detailed findings including 2006 data, 2007 data and figures for all 30 states analyzed is available at:
https://www.mortgagedaily.com//EmploymentByStateReport043007.asp
About MortgageDaily.com
Founded in 1998, MortgageDaily.com is the dominant online news source for the mortgage industry. Around one million mortgage business news pages are viewed monthly at MortgageDaily.com and its affiliate publications.
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Source:Â MortgageDaily.com
