Mortgage Jobs Migrate Southwest

Those were the findings from a new report released by MortgageDaily.com.

Mortgage layoffs and job hirings at 132 companies operating in 30 states from Jan. 1, 2006, to April 27, 2007, were analyzed. Each of the layoff or hiring actions involved a minimum of 50 people.

On a national basis, the net loss during the period analyzed was 16,087 jobs, according to the report. The net job loss was 2,746 for all of last year, while year-to-date 2007 there have been 13,341 more layoffs than hirings.

The biggest loser, with a net loss of 12,311 mortgage jobs during the entire period, was California, the data indicate. Among companies to have the greatest impact on real estate finance employees in the Golden State were Orange, Calif.-based ACC Capital Holdings, Irvine, Calif.-based New Century Financial Corp. and Calabasas, Calif.-based Countrywide Financial Corp.

Washington State had a net mortgage job loss of 1,896, the report said. Washington Mutual Inc. and Mortgage Investment Lending Associates, or MILA, had a significant impact on that state’s numbers.

Florida followed with net employment losses of 1,530, then Connecticut with 1,374 lost jobs.

But not every state had mortgage job losses during the period analyzed.

Arizona saw a net mortgage job gain of 3,533 for the period, the report indicated. Countrywide fueled much of the gain in the Grand Canyon State.

Texas also had an increase in mortgage employment — up 2,470 from the beginning of 2006. Countrywide was a big contributor to the Lone Star State’s gain.

Boosted by job additions from Wells Fargo Home Mortgage, Iowa’s mortgage employees increased by 2,000.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com. e-mail: mtgsam@aol.com