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
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.



PRESS RELEASE

(please note correction to fourth paragraph 10:02 a.m. Nov. 9)


Mortgage Layoffs Outpace Hirings According to MortgageDaily.com Q3 Report


DALLAS -- (Nov. 9, 2009) /PRNewswire/ Growth in mortgage servicing jobs was not enough to keep headcount in the mortgage sector from falling, according to the MortgageDaily.com Third Quarter Mortgage Employment Analysis. But the rate of contraction has slowed considerably from the ugly pace set two years ago.

Mortgage employers eliminated 710 more positions during the third quarter than they added, based on the report, which reflects employment activity covered by MortgageDaily.com. The net loss reversed an 8,253 net gain in the second quarter but was better than the 10,233 net loss during the third-quarter 2008.

Despite the latest decline, mortgage job losses have slowed from the torrid pace set in 2007 -- when lenders shed 87,000 more jobs than they added.

Third-quarter mortgage layoffs were 4,691, rising from the second quarter's 3,229. Layoffs were most impacted by the closing of mortgage operations. (Correction: this paragraph should have read: Third-quarter mortgage layoffs were 5,401, rising from the second quarter's 3,229. Layoffs were most impacted by the closing of mortgage operations.)

Hirings totaled 4,691, tumbling from 11,482 in the second quarter. Third-quarter hirings were fueled by growth in mortgage servicing staffs as well as growth at default service providers.

Period Q3 2009 Q2 2009 Q3 2008
Layoffs 5,401 3,229 11,229
Hirings 4.691 11,482 996
Net -710 +8,253 -10,233

Impacted by layoffs at bankrupt Taylor Bean & Whitaker Mortgage Corp., Florida saw a bigger third-quarter net loss in real estate finance jobs than any other state.

Loss-mitigation hirings by CitiMortgage Inc. helped give Missouri the biggest net gain.

State Net Gain/Loss
Florida -1,355
Washington -824
New Jersey -179
Missouri +700
Texas +478
Louisiana +250

The U.S. Department of Labor reported that mortgage employment declined to 259,300 in September from 265,500 in June.



The full second-quarter employment analysis, including full tables by state and by company, is available to MortgageDaily.com subscribers at:
http://www.mortgagedaily.com/EmploymentByStateReport110909.asp?spcode=pr

Complete mortgage employment news, including articles about the layoffs outlined in this report, is available at:
http://www.mortgagedaily.com/MortgageEmployment.asp?spcode=pr


About MortgageDaily.com
Founded in 1998, http://www.MortgageDaily.com provides online mortgage news and analysis for the mortgage industry.
Around 1 million news pages are viewed monthly at MortgageDaily.com and its affiliate publications.


CONTACT:
SamGarcia@MortgageDaily.com
214.521.1300
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


Source: MortgageDaily.com

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.



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