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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.

mortgage employment activity by state

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Q3 Mortgage Daily Mortgage Employment Index Expands

DALLAS -- (Feb. 6, 2017) A healthy quarterly expansion was recorded for employment in the residential lending industry. Faring best was the Golden State, though the Lone Star State also made impressive gains.

taffing in real estate finance was an estimated 677,400 as of Sept. 30, 2016, according to an analysis conducted as part of the Mortgage Daily Third Quarter 2016 Mortgage Employment Index.

Estimated industry headcount expanded from three months earlier, when the total came to 665,600. The increase was far more significant versus a year earlier, when the number was 650,100.

More recently, mortgage staffing has climbed to an estimated 697,700 as of Dec. 31, 2016.

The third-quarter 2016 estimated total consisted of 292,900 home-lending jobs at banks, 59,900 mortgage jobs at credit unions and 324,600 people working for non-bank mortgage bankers.

Estimated Mortgage Staffing by Quarter
Type Q3 2016 Q2 2016 Q3 2015
Banks 292,900 289,800 283,900
Credit Unions 59,900 59,900 59,900
Non-Banks 324,600 316,000 306,400
Total 677,400 665,600 650,100

Within the mortgage industry, Mortgage Daily tracked 2,198 layoffs during the period that started on July 1, 2016, and finished on Sept. 30, 2016. In addition, 4,883 hirings were also tracked.

That put the Mortgage Employment Index at a positive 2,685 jobs during the third quarter, a bigger net gain than 1,812 in the second quarter. The net gain swung from a 921 job loss in the third-quarter 2015.

With nearly 600 more hirings tracked than layoffs, California fared best for net jobs gains in the third-quarter 2016. Close behind was Texas.

Biggest Job Gains by State
State Net
California +584
Texas +544
New Jersey +224
Wisconsin +198
Illinois +130

In Florida, the net loss for mortgage jobs tracked by Mortgage Daily was 368 -- a bigger decline than in any other state.

Oregon was a distant second with a drop of more than a hundred.

Biggest Job Losses by State
State Net
Florida -368
Oregon -102
Georgia -97
Michigan -84
Iowa -19

Caliber Home Loans Inc. had 725 more hirings than layoffs tracked during the latest three-month period, giving the Irving, Texas-based company a bigger gain than any other firm tracked by Mortgage Daily during the third quarter of last year.

With more than 400 mortgage job gains, Freedom Mortgage Corp. and Fairway Independent Mortgage Corp. were second and third, respectively.

Biggest Job Gains by Company
Company Net
Caliber Home Loans +725
Freedom Mortgage +447
Fairway +423
Nationstar Mortgage LLC +300
New American Funding +300
PennyMac Financial Services Inc. +300

At Walter Investment Management Corp. and its subsidiaries, layoffs tracked during the third-quarter 2016 exceeded hirings by 600 positions, giving the Tampa, Florida-based firm the biggest quarterly loss in mortgage staffing.

In the second spot, with half as many layoffs as Walter, was Ocwen Financial Corp.

Biggest Job Losses by Company
Company Net
Walter Investment -600
Ocwen -299
Home Retention Services Inc. -255
Bank of America Corp. -241
OneMain Financial -116

Full Q3 2016 report is available to subscribers:

Historical Mortgage Employment Index data is at:

Mortgage employment news:

About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, Mortgage Daily is a leading online source of mortgage news and mortgage statistics. Mortgage Daily also publishes the Mortgage Market Index and a ranking of the biggest lenders. Visit Mortgage Daily at


Source: Mortgage Daily

Mortgage Employment Index 2016

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