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Mortgage Employment By State – Jan. 2008 to March 2008

Mortgage Employment By StateAnalysis of Activity from Jan. 2008 to March 2008
Published April 7, 2008
(last revised July 5, 2008)


State
Layoffs
Q1 2008
Hirings
Q1 2008
Net
Q1 2008
Net
2007
Net
2006
Alaska
0
0
0
+10
0
Arizona
100
0
-100
-2,505
3,791
California
-3/2008 Added 200 Fortes hires

-4.8.08: moved 500 First Franklin layoffs to 2007

-5.21.08: added 345 Impac layoffs per earnings stmt

4,340
425
-3,915
-16,433
-5,397
Colorado
150
0
-150
+4
+44
Connecticut
0
0
0
-1,698
+426
Delaware
0
0
0
+200
-153
Florida
1,539
0
-1,539
-2,507
-444
Georgia
60
0
-60
-1,623
+19
Idaho
0
0
0
-49
0
Illinois
132
0
-132
-1,738
-127
Indiana
294
0
-294
-694
-650
Iowa
415
0
-415
-85
+2,000
Kansas
200
0
-200
-60
0
Kentucky
0
0
0
-530
+273
Louisiana
0
0
0
+130
0
Maine
90
0
-90
0
0
Maryland
115
0
-115
-285
+100
Massachusetts
0
0
0
+47
+150
Michigan
63
100
37
-109
+350
Minnesota
125
0
-125
-309
0
Missouri
194
0
-194
-655
-25
Montana
80
0
-80
0
0
Nebraska
0
0
0
0
+150
Nevada
0
0
0
-547
0
New Jersey
684
0
-684
-697
-17
New York
300
75
-225
-2,071
+459
North Carolina
65
0
-65
-964
+675
Ohio
0
0
0
-845
-24
Oregon
50
0
-50
-91
0
Pennsylvania
0
0
0
-313
-47
Rhode Island
0
0
0
0
0
South Carolina
0
0
0
-900
-31
Tennessee
80
0
-80
-135
-125
Texas
250
100
-150
+145
+1,375
Utah
0
18
18
-36
0
Virginia
0
0
0
-118
-203
Washington
15
0
-15
-745
-1,260
Wisconsin
45
0
-45
-33
-470
National
-3/2008 Added 200 Fortes hires

4.8.08: moved 500 FF layoffs to 2007

4.21.08: increased Nat City layoffs by 987 per earnings statement

5.12.08 added 256 Chase LO hirings

5.21.08: added 345 Impac layoffs per earnings stmt

6,018
481
-5,537
-50,892
-3,585
TOTAL

3/2008 Added 400 Fortes hires

4.8.08: moved 1,000 FF layoffs to 2007

4.21.08: increased Nat City layoffs by 987 per earnings statement

5.12.08 added 256 Chase LO hirings

5.21.08: added 690 Impac layoffs per earnings stmt

15,404
1,199
-14,205
-87,071
-2,746
  • Positive figures represent net job gains.

  • Negative figures represent net job losses.

  • Reflects mortgage layoffs, hirings and mortgage company closings from Jan. 1, 2008, to March 31, 2008.

  • 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.

  • Those layoffs where only national numbers were obtained and no individual states were identified are included in “National.”

  • The number of companies involved in layoffs analyzed was 47.

  • 3/2008 Added 400 Fortes hires

    4.8.08: moved 1,000 First Franklin layoffs to 2007

    4.21.08: increased Nat City layoffs by 987 per earnings statement

    5.12.08 added 256 Chase LO hirings

    5.21.08: added 690 Impac layoffs per earnings stmt


Net Job Losses by Company

Company
Layoffs
Hirings
Net Job Change
1st Choice Mortgage
75
0
-75
Aurora Loan Services LLC
1,602
0
-1,602
B.F. Saul Mortgage
50
0
-50
Bank of the West
46
0
-46
Bank United Financial Corp.
200
0
-200
Bear Stearns
142
0
-142
Beazer Mortgage Corp.
60
0
-60
Bismark Mortgage Co.
15
0
-15
Capital One Financial Corp.
43
0
-43
Centennial Mortgage and Funding
125
0
-125
Citigroup – CitiMortgage
853
0
-853
Citizen Bank Mortgage Loan Operations
63
0
-63
Countrywide Financial Corp.
431
0
-431
Downeast Mortgage Corp.
90
0
-90
Eastern American Mortgage
10
0
-10
E-LOAN Inc.
21
0
-21
Fidelity Home Mortgage Corp.
50
0
-50
First Franklin Financial Corp. (4.8.08 moved 1,000 layoffs to 2007)
650
0
-650
First Horizon National Corp.
160
0
-160
First Houston
0
100
100
First Madison Mortgage
65
0
-65
First National Mortgage Sources
1,000
0
-1,000
First NLC Financial Services
700
0
-700
Fortes Residential Mortgage Co. (add hiring per expansion 7/08 story)
0
400
400
Global Mortgage Inc.
500
0
-500
GreenPoint Mortgage Funding
43
0
-43
Home Loan Center Inc. – LendingTree LLC
119
0
-119
Impac Mortgage Holdings (added May 21 headcount decrease per earnings stmt)
690
0
-690
IndyMac Bancorp Inc.
2,403
0
-2,403
JPMorgan Chase & Co. (5.12.08 added 256 Chase LO hirings)

624
256
-368
Lend America
0
75
75
Lydian Mortgage
49
0
-49
Maverick Residential Mortgage
650
0
-650
Morgan Stanley
Saxon Mortgage Inc.
1,000
0
-1,000
National City Corp. (increased layoffs by 987 on 4.21.08 per earnings statement)
1,088
0
-1,088
NovaStar Financial Inc.
194
0
-194
Option One Mortgage Corp.
317
0
-317
Paragon Home Lending
45
0
-45
Preferred Home Mortgage Co.
75
0
-75
Primary Residential Mortgage Inc.
0
18
18
Residential Mortgage Capital
35
0
-35
ResMAE Mortgage Corp.
182
0
-182
Secured Bankers Mortgage Co.
46
0
-46
Shore Mortgage
0
100
100
SunTrust Banks
86
0
-86
Unique Mortgage Solutions
65
0
-65
Washington Mutual
381
0
-381
Wells Fargo Home Mortgage
Wells Fargo Bank N.A.
Wells Fargo Home & Consumer Finance
361
0
-361
WSB Mortgage
0
50
50
TOTAL
15,404
999
-14,405


Mortgage Employment Index main |
2017 |
2016 | 2015 |
2014 |
2013 |
2012 |
2011 |
2010 |
2009 |
2008 |
2007 |
2006

Report Authors:
Sam Garcia, Publisher, MortgageDaily.com
Natalie Merrill, Staff Writer, MortgageDaily.com

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