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Mortgage Employment By State – Second Quarter 2008

Mortgage Employment By StateSecond Quarter 2008
Published July 7, 2008


State
Q2 2008 Layoffs
Q2 2008 Hirings
Q2 2008 Net
Q1 2008 Net
(revised)
2007 Net
(revised)
Alaska
0
0
0
0
+10
0
Arizona
62
0
-62
-100
-2,505
3,791
California (revised 7.21.08)
827
0
-827
-3,915
-16,433
-5,397
Colorado
0
0
0
-150
+4
+44
Connecticut
0
0
0
0
-1,698
+426
Delaware
0
0
0
0
+200
-153
Florida
244
0
-244
-1,539
-2,507
-444
Georgia
0
0
0
-60
-1,623
+19
Idaho
0
0
0
0
-49
0
Illinois
118
0
-118
-132
-1,738
-127
Indiana
0
0
0
-294
-694
-650
Iowa
0
0
0
-415
-85
+2,000
Kansas
0
0
0
-200
-60
0
Kentucky
0
0
0
0
-530
+273
Louisiana
0
0
0
0
+130
0
Maine
0
0
0
-90
0
0
Maryland
0
0
0
-115
-285
+100
Massachusetts
0
0
0
0
+47
+150
Michigan
125
0
-125
+37
-109
+350
Minnesota
0
0
0
-125
-309
0
Missouri
0
0
0
-194
-655
-25
Montana
0
0
0
-80
0
0
Nebraska
0
0
0
0
0
+150
Nevada
0
0
0
0
-547
0
New Jersey
100
0
-100
-684
-697
-17
New York
50
0
-50
-225
-2,071
+459
North Carolina
100
50
-50
-65
-964
+675
Ohio
188
0
-188
0
-845
-24
Oklahoma 0 50 +50
0
0
0
Oregon
100
0
-100
-50
-91
0
Pennsylvania
217
0
-217
0
-313
-47
Rhode Island
0
0
0
0
0
0
South Carolina
0
0
0
0
-900
-31
Tennessee
0
0
0
-80
-135
-125
Texas
50
0
-50
-150
+145
+1,375
Utah
0
0
0
+18
-36
0
Virginia
0
0
0
0
-118
-203
Washington
898
0
-898
-15
-745
-1,260
Wisconsin
0
0
0
-45
-33
-470
National (revised 7.24.08)
1,599
0
-1,599
-5,537
-50,892
-3,585
TOTAL
4,678
100
-4,578
-14,405
-87,131
-2,746
Layoffs
Q2 2008
Hirings
Q2 2008
Net
Q2 2008

Net
Q1 2008
(revised)

Net
2007
(revised)

Net
2006

Q2 2008 Notes

  • Positive figures represent net job gains.

  • Negative figures represent net job losses.

  • Reflects mortgage layoffs, hirings and mortgage company closings tracked from April 1, 2008 to June 30, 2008, where at least 50 jobs were impacted.

  • 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 16.

  • 7.16.08: added 171 First Horizon layoffs

  • 7.21.08: added 570 Countrywide layoffs – half National, half CA

    7.22.08: reduced total WaMu layoffs to 1,797 from 4,000.

  • 7.24.08: added 126 national and 125 Ohio for National City layoffs.


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

Company
Layoffs
Hirings
Net Job Change
Accredited Home Lenders Inc. (estimated) 700 0 -700
Countrywide Financial Corp. (added 7.21.08 based on earnings report) 570 0 -570
First Collateral Services Inc. 142 0 -142
First Horizon National Corp. (added 7.16.08) 171 0 -171
Freddie Mac 118 0 -118
IBM Lender Business Process Services 0 50 +50
InterBay Funding LLC 75 0 -75
Lend America
50
0
-50
Macquarie Bank Limited 69 0 -69
MidFirst Bank 0 50 +50
National City Corp. (added July 24) 251 0 -251
Quicken Loans Inc. 250 0 -250
Saxon Mortgage Inc.
50
0
-50
Triad Guaranty Insurance Corp. 100 0 -100
Washington Mutual (revised 7.22.08)
1,797
0
-1,797
Wilmington Finance Inc. 335 0 -335
TOTAL
4,678
100
-4,578


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

Report Author:
Sam Garcia, Publisher, MortgageDaily.com

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