PRESS RELEASE
Q3 Mortgage Employment Index Down, Wisconsin Leads
DALLAS -- (Jan. 25, 2016) Wisconsin led a quarterly contraction in mortgage staffing, though nearby Michigan had a healthy gain.
At the end of the third-quarter 2015, there were an estimated 644,300 people who were employed in mortgage-related positions.
That was based on a Mortgage Daily analysis of government data and origination market share.
Total industry headcount
declined from the second quarter, when it was an estimated 646,100.
It grew, though, from the third-quarter 2014, when the total was an estimated 630,200.
The Sept. 30, 2015, total consisted of an estimated 284,600 mortgage jobs at banks, 60,000 home lending employees at credit unions and 299,700 people working at non-bank mortgage firms.
Mortgage Staffing by Quarter
| Type |
Q3 2015 |
| Banks |
284,600 |
| Credit Unions |
60,000 |
| Non-Banks |
299,700 |
| Total |
644,300 |
In the Mortgage Daily Third Quarter 2015 Mortgage Employment Index report, there were 4,797 mortgage-related layoffs tracked during the period from July 1, 2015, through Sept. 30.
During the same period, there were just 3,876 hirings tracked -- putting the net loss of jobs tracked at 921.
Michigan had the biggest gain of any state.
Biggest Q3 Job Gains by State
| State |
Net |
| Michigan |
+1,058 |
| Arizona |
+300 |
| Virginia |
+262 |
| Washington |
+86 |
| Florida |
+82 |
There was a bigger net loss of mortgage jobs tracked in Wisconsin than any other state: 722.
Biggest Q3 Job Losses by State
| State |
Net |
| Wisconsin |
-722 |
| New York |
-377 |
| California |
-370 |
| Colorado |
-265 |
| Texas |
-140 |
Looking at quarterly staffing changes by company, Quicken Loans had the biggest gain during the most-recent period.
Biggest Q3 Job Gains by Company
| Company |
Net |
| Quicken |
1,000 |
| loanDepot |
+700 |
| Movement Mortgage |
+536 |
| Guaranteed Rate |
+301 |
| Fairway Independent |
+233 |
The largest home lender, Wells Fargo, had the biggest loss of any lender.
Biggest Q3 Job Losses by Company
| Company |
Net |
| Wells Fargo |
1,434 |
| Bank of America |
-1,400 |
| Discover Home Loans |
-474 |
| Chase |
-350 |
| Urban Lending Solutions |
-265 |
|
