twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com 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 MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

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

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.reversefunding.com

subscribe to free Mortgage Daily email newsletter

Q2 2011 Full Report

PRESS RELEASE


Weakening Mortgage Employment Could Strengthen


DALLAS -- (Aug. 29, 2011) /PRNewswire/ More than 2,000 mortgage jobs have been eliminated this year, according to the Second-Quarter 2011 Mortgage Employment Index from MortgageDaily.com. But falling rates and worsening loan performance could lead to increased hirings in the second half.

The index, which reflects hirings and layoffs tracked by MortgageDaily.com, was down almost 500 jobs in the second quarter. Nearly 5,000 hirings weren't enough to offset more than 5,000 layoffs.

Still, the contraction was less severe than the first quarter. But activity swung from growth of more than 700 jobs during the same period last year.

Quarter Layoffs Hirings Net
Q2 2011 5,404 4,940 -464
Q1 2011 4,318 2,513 -1,805
Q2 2010 2,028 2,768 +740

Real estate finance positions in California were off more than a thousand jobs -- the worst of any state. But Ohio's gain of 800 jobs was the best performance.

State Q2 Net Gain/Loss
CA -1,078
PA -292
NC -276
OH +800
KY +400
MO +222

Nearly half of all layoffs tracked were at Wells Fargo, which cut mortgage fulfillment staffing and closed its reverse mortgage business.

More than half of all second-quarter hirings occurred at Chase, which hired hundreds in Ohio.

Company Net Gain/Loss
Wells Fargo -2,500
BofA -954
Kondaur -161
JPMorgan +2,585
USBank +394
MetLife +200

Hirings could pick up as rates have recently fallen to record lows -- sparking a refinance rally and boosting demand for loan originators, processors and underwriters as well as other production personnel.

However, since some of the biggest lenders already made massive job cuts this year, this group might be reluctant to staff up too quickly. Instead, small- to mid-sized mortgage bankers and brokers are likely to quickly capitalize on the building refinance wave.

In addition, deteriorating delinquency and bloated foreclosure inventories could drive additional recruiting by mortgage servicers.

Department of Labor data indicate that mortgage jobs fell to 239,100 as of June from 244,700 at the end of the first quarter and 259,700 at the end of 2010.


The complete Mortgage Employment Index report -- including full tables by state, year and company -- is available at:
http://www.mortgagedaily.com/MortgageEmploymentIndex.asp?spcode=pr

Mortgage employment news is available online at:
http://www.mortgagedaily.com/MortgageEmployment.asp?spcode=pr


About MortgageDaily.com
Founded in 1998, MortgageDaily.com is a dominant online source of news, statistics and analysis for the mortgage industry. Visit us online at www.MortgageDaily.com.

CONTACT:
Holly Himelright
NewsAlert@MortgageDaily.com
214.521.1300


Source: MortgageDaily.com




1st Quarter 2011 Mortgage Employment Index


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
password?

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

MBS

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