PRESS RELEASE
Mortgage Employment Index Gains in Q2
DALLAS — (Sept. 4, 2012) /PRNewswire/ Layoffs grew and hirings softened, according to the Second-Quarter 2012 Mortgage Employment Index from Mortgage Daily. Still, mortgage firms managed another quarterly gain in staffing. Texas was pounded with layoffs but able to absorb displaced workers and come out with a gain. Mortgage jobs are pouring out of New Jersey and into Michigan.
Mortgage Daily tracked approximately 4,245 mortgage-related layoffs between April 1 and June 30. But hirings were greater at 5,580, giving the industry a second-quarter net gain of 1,335 jobs. It was the fourth consecutive quarter of mortgage job gains.
Employment in real estate finance was weaker than in the first quarter, when the revised net was better at a positive 2,969 jobs. The net in the second-quarter 2011 was a negative 464 mortgage jobs.
| Quarter | U.S. Net |
| Q2 2012 | +1,335 |
| Q1 2012 (revised) | +2,969 |
| Q2 2011 | -464 |
In the latest period, layoffs at Saxon Mortgage helped pushed Texas’ layoffs higher than any other state. But with the most hirings, Texas was able to absorb the losses and managed a net gain.
New Jersey’s layoffs were the second-highest — giving the Garden State the worst net activity. California’s layoffs followed, then New York.
Fueled by recruiting at Quicken Loans, Michigan’s 711 hirings and no layoffs gave it the biggest net gain.
| State | Net Gain/Loss |
| Michigan | +711 |
| Florida | +528 |
| Pennsylvania | +292 |
| California | -343 |
| New Jersey | -356 |
Florida’s hirings were the second-most of any state, then New Jersey and Pennsylvania.
MetLife, which previously announced plans to exit the mortgage business, drained the industry of the most jobs.
Citigroup had the biggest second-quarter gain followed by Nationstar Mortgage.
| Company | Net Gain/Loss |
| Citigroup | +637 |
| Nationstar | +600 |
| Quicken | +500 |
| Saxon | -680 |
| MetLife | -1,090 |
