PRESS RELEASE
Mortgage Employment Index Jumps Most in Nearly 4 Years
DALLAS — (June 3, 2013) /PRNewswire/ The first quarter proved to be the best since 2009 for jobs in real estate finance. Much of the gain was in the state of Michigan.
The mortgage industry had a net gain of 5,129 jobs in the first quarter, according to the Mortgage Employment Index from Mortgage Daily.
It was the best showing since the second-quarter 2009, when there was a net gain of 8,253 mortgage-related jobs over the prior period.
The net job gain was 2,571 three months earlier and a revised 2,969 a year earlier.
The findings were based on job activity covered by Mortgage Daily.
The most recent total reflected 2,930 layoffs and 8,059 hirings.
| Period | Layoffs | Hirings | Net |
| Q1 2013 | 2,930 | 8,059 | +5,129 |
| Q4 2012 | 2,404 | 4,975 | +2,571 |
| Q1 2012* | 3,881 | 6,850 | 2,969 |
*revised
Thanks to aggressive growth at Quicken Loans, Michigan turned in the biggest increase of any state.
Hirings in Tempe, Ariz., helped land the Grand Canyon State in the No. 2 position.
Biggest Job Gains by State
| State | Net |
| Michigan | +2,433 |
| Arizona | +1,150 |
| Texas | +607 |
| Missouri | +227 |
| Georgia | +200 |
At the other end of the scale were the Carolinas, which had more mortgage job losses than any other states.
Biggest Job Losses by State
| State | Net |
| North Carolina | -314 |
| South Carolina | -298 |
| Minnesota | -210 |
| California | -200 |
| Florida | -117 |
Quicken had the biggest gain of any company, followed by Wells Fargo and Nationstar Mortgage.
Biggest Job Gains by Company
| Company | Net |
| Quicken | +2,000 |
| Wells Fargo | +1,475 |
| Nationstar | +700 |
| PHH Mortgage | +450 |
| Wingspan | +400 |
| Title Source | +400 |
As they scaled back their massive default servicing staffs, JPMorgan Chase and Bank of America took the biggest hits.
Biggest Job Losses by Company
| Company | Net |
| Chase | -821 |
| BofA | -651 |
| HSBC | -400 |
