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Mortgage Employment By State – Fourth Quarter 2008

Mortgage Employment By StateFourth Quarter 2008
Published Jan. 19, 2009


State
Q4 2008
Layoffs
Q4 2008
Hirings
Q4 2008
Net
Q3 2008
Net

(revised)
Q2 2008 Net
(revised)
Q1 2008 Net
(revised)
2008 Net
(revised)
2007 Net
(revised)
TOTAL
8,708
925
-7,783
-10,233
-4,578
-14,205
-36,799
-87,131
-2,746
Alaska 0 0 0 0 0
0
0
+10
0
Arizona 120 0 -120 -29 -62
-100
-311
-2,505
3,791
California 1,512 35 -1,477 -1,914 -827
-3,915
-8133
-16,433
-5,397
Colorado 83 0 -83 50 0
-150
-183
+4
+44
Connecticut 65 0 -65 0 0
0
-65
-1,698
+426
Delaware 0 0 0 0 0
0
0
+200
-153
Florida 801 44 -757 -111 -244
-1,539
-2651
-2,507
-444
Georgia 303 0 -303 0 0
-60
-363
-1,623
+19
Idaho 0 0 0 0 0
0
0
-49
0
Illinois 43 0 -43 -459 -118
-132
-752
-1,738
-127
Indiana 0 40 40 50 0
-294
-204
-694
-650
Iowa 0 0 0 -190 0
-415
-605
-85
+2,000
Kansas 0 0 0 -25 0
-200
-225
-60
0
Kentucky 0 160 160 0 0
0
160
-530
+273
Louisiana 0 0 0 0 0
0
0
+130
0
Maine 0 0 0 0 0
-90
-90
0
0
Maryland 0 25 25 0 0
-115
-90
-285
+100
Massachusetts 0 0 0 100 0
0
100
+47
+150
Michigan 236 0 -236 0 -125
+37
-324
-109
+350
Minnesota 1,000 0 -1,000 0 0
-125
-1125
-309
0
Mississippi 0 0 0 -25 0 0 -25 0 0
Missouri 134 25 -109 50 0
-194
-253
-655
-25
Montana 0 0 0 0 0
-80
-80
0
0
Nebraska 0 0 0 0 0
0
0
0
+150
Nevada 0 0 0 -10 0
0
-10
-547
0
New Jersey 382 0 -382 -495 -100
-684
-1661
-697
-17
New Mexico 10 0 -10 -27 0 0 -37 0 0
New York 369 25 -344 -68 -50
-225
-687
-2,071
+459
North Carolina 113 50 -63 -92 -50
-65
-270
-964
+675
Ohio 183 0 -183 -212 -188
0
-583
-845
-24
Oklahoma 0 0 0 0 +50
0
50
0
0
Oregon 75 38 -37 -14 -100
-50
-201
-91
0
Pennsylvania 239 0 -239 -266 -217
0
-722
-313
-47
Rhode Island 0 0 0 0 0
0
0
0
0
South Carolina 0 15 15 0 0
0
15
-900
-31
Tennessee 35 40 5 -170 0
-80
-245
-135
-125
Texas 85 0 -85 -165 -50
-150
-450
+145
+1,375
Utah 0 0 0 0 0
+18
18
-36
0
Virginia 0 0 0 -78 0
0
-78
-118
-203
Washington 60 25 -35 -1 -898
-15
-949
-745
-1,260
Washington, D.C. 0 0 0 300 0 0 300 0 0
Wisconsin 266 0 -266 0 0
-45
-311
-33
-470
West Viginia 0 0 0 -32 0 0 -32 0 0
National
(revised Jan. 30, 2009)
2,594 403 -2,191 -6,400 -1,599
-5,537
-15,727
-50,892
-3,585
TOTAL
(revised Jan. 30, 2009)
8,708
925
-7,783
-10,233
-4,578
-14,205
-36,799
-87,131
-2,746
Layoffs
Q4 2008
Hirings
Q4 2008
Net
Q4 2008

Net
Q3 2008
(revised)

Net
Q2 2008
(revised)

Net
Q1 2008
(revised)

Net
2008
(revised)

Net
2007
(revised)

Net
2006

Q4 2008 Notes

  • Positive figures represent net job gains.

  • Negative figures represent net job losses.

  • Reflects mortgage layoffs, hirings and mortgage company closings tracked from Oct. 1, 2008 to Dec. 31, 2008, generally involving at least 50 people.

  • The data was primarily derived from stories published by MortgageDaily.com

  • With a few individual rounds of layoffs where only national totals were available but states involved were known, half of the layoffs were attributed to the state where the company was based and the rest were distributed among the remaining states.

  • Layoffs in unknown multiple states where only national numbers were obtained were generally attributed half to the state where based and half to “National.”

  • Some number were estimated.

  • The number of companies involved in layoffs analyzed was 35 (excluding subsdiaries).

  • 1.30.09: added 62 Flagstar U.S. layoffs.


Net Job Losses (-) or Increases (+) by Company
Fourth Quarter 2008

Company
Layoffs
Hirings
Net Job Change
Ace Mortgage Funding 400 0 -400
Alpine Mortgage Planing 0 38 +38
Alternative Mortgage Express 0 35 +35
Bank of America Corp. 109 0 -109
Charter Bank 10 0 -10
Citigroup Inc. 600 0 -600
Coldstream Financial Services 100 0 -100
Downey Savings and Loan Association
200
0
-200
Flagstar Bancorp Inc. (added Jan. 30, 2009)
62
0
-62
Fortes Financial Inc.
400
0
-400
Genworth Financial
23
0
-23
GreenPoint Financial
220
0
-220
HFF inc.
57
0
-57
HSBC
490
0
-490
IBM Lender Business Process 0 50 +50
JPMorgan Chase & Co. 1,746 300 -1,446
Land America 130 0 -130
Lendability.com 20 0 -20
LIME Financial Services 150 0 -150
LoanWell 0 25 +25
MEM Financial Solutions LLC 50 0 -50
Metrocities Mortgage LLC 50 0 -50
Mid-Island Mortgage Corp. 0 25 +25
MortgageIT 100 0 -100
NetMore America Inc. 0 25 +25
New Penn Financial LLC 0 25 +25
Popular Inc. 584 0 -584
Pulte Mortgage LLC 90 0 -90
Residental Captial LLC 2,405 0 -2,405
Sovereign Bank 100 0 -100
SurePoint Lending 0 318 +318
Titanium Holdings Inc. 0 15 +15
USA Mortgage 0 25 +25
Value Financial 0 44 +44
Wachovia Corp. 562 0 -562
Wells Fargo Home Mortgage 50 0 -50
TOTAL
(revised Jan. 30, 2009)
8,708
925
-7,783


Mortgage Employment Index main |
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2006

Report Author:
Sam Garcia, Publisher, MortgageDaily.com

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