Mortgage Employment Index by State – Fourth-Quarter 2010
Published: April 11, 2011
Overview
The following table summarizes mortgage employment layoffs, hirings and net
job changes by state for the fourth quarter of 2010, along with historical
net changes for prior quarters.
| State | Q4 2010 Layoffs | Q4 2010 Hirings | Q4 2010 Net | Q3 2010 Net | Q2 2010 Net | Q1 2010 Net | Q4 2009 Net | Q3 2009 Net | Q2 2009 Net | Q1 2009 Net |
|---|---|---|---|---|---|---|---|---|---|---|
| TOTAL | 6,613 | 2,989 | -3,624 | -930 | +740 | +714 | +2,854 | -710 | +8,253 | -2,076 |
| Alabama | 0 | 0 | 0 | 0 | 0 | +30 | +30 | 0 | 0 | 0 |
| Alaska | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Arizona | 0 | 0 | 0 | 0 | 0 | +100 | -80 | +50 | 35 | +20 |
| California | 1,303 | 276 | -1,027 | 134 | +91 | -161 | 987 | -31 | -423 | -829 |
| Colorado | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -19 | 0 |
| Connecticut | 0 | 43 | +43 | +68 | +60 | -65 | -80 | 0 | 50 | 0 |
| Delaware | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -65 | 0 | 0 |
| Florida | 563 | 368 | -195 | +164 | +248 | +289 | -63 | -1,355 | +595 | -322 |
| Georgia | 0 | 98 | +98 | +85 | +10 | +10 | -118 | 0 | 0 | -20 |
| Hawaii | 50 | 0 | -50 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Idaho | 0 | 0 | 0 | 0 | 0 | 0 | +18 | 0 | 0 | 0 |
| Illinois | 8 | 0 | -8 | -36 | -489 | -316 | 0 | 0 | +388 | -2,780 |
| Indiana | 0 | 0 | 0 | +50 | +50 | 0 | -10 | -22 | 0 | 0 |
| Iowa | 350 | 0 | -350 | -10 | 0 | 0 | +941 | +25 | +25 | 0 |
| Kansas | 0 | 5 | +5 | 0 | 0 | +20 | +55 | +35 | 0 | 0 |
| Kentucky | 0 | 0 | 0 | 0 | 0 | +50 | 0 | 0 | +340 | +40 |
| Louisiana | 0 | 65 | +65 | 0 | 0 | 0 | 0 | +250 | 0 | 0 |
| Maine | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maryland | 13 | 25 | +12 | -67 | -292 | 0 | 0 | 0 | +25 | +25 |
| Massachusetts | 25 | 13 | -12 | 0 | 0 | 0 | -160 | 0 | 0 | 0 |
| Michigan | 154 | 78 | -76 | +46 | +29 | +219 | -25 | +35 | +89 | +100 |
| Minnesota | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Mississippi | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100 |
| Missouri | 0 | 0 | 0 | 0 | 0 | 0 | 0 | +700 | +70 | +25 |
| Montana | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Nebraska | 0 | 0 | 0 | 0 | -20 | 0 | 0 | 0 | 0 | 0 |
| Nevada | 0 | 0 | 0 | 0 | 0 | 0 | 0 | +20 | 0 | 0 |
| New Jersey | 9 | 43 | +34 | +39 | -128 | -9 | -91 | -179 | -8 | 0 |
| New Mexico | 0 | 0 | 0 | 0 | -80 | 0 | 0 | 0 | -105 | +25 |
| New York | 0 | 42 | +42 | +100 | -76 | -24 | -500 | +125 | +164 | -147 |
| North Carolina | 242 | 75 | -167 | +512 | +324 | +179 | +313 | +171 | -24 | +50 |
| Ohio | 0 | 417 | +417 | 0 | +20 | -48 | -197 | +20 | +95 | -38 |
| Oklahoma | 0 | 5 | +5 | +43 | +43 | 0 | 0 | 0 | 0 | 0 |
| Oregon | 0 | 75 | +75 | -34 | 0 | 0 | 0 | 0 | +38 | +38 |
| Pennsylvania | 103 | 200 | +97 | +42 | +34 | -20 | -5 | +150 | +125 | +100 |
| Rhode Island | 0 | 0 | 0 | +33 | +83 | +46 | 0 | 0 | 0 | 0 |
| South Carolina | 0 | 50 | +50 | 0 | 0 | 0 | 0 | 0 | +15 | +15 |
| Tennessee | 40 | 150 | +110 | +150 | +310 | +10 | 0 | 0 | 0 | -70 |
| Texas | 0 | 630 | +630 | +308 | +153 | +49 | +44 | +478 | +1,078 | 0 |
| Utah | 0 | 0 | 0 | 0 | -12 | 0 | -100 | 0 | 0 | 0 |
| Virginia | 25 | 0 | -25 | +3 | +25 | -3 | 0 | 0 | -291 | 0 |
| Washington | 0 | 0 | 0 | 0 | 0 | -5 | -60 | -824 | +165 | -320 |
| Washington, D.C. | 0 | 0 | 0 | +50 | +50 | +50 | +50 | +50 | 0 | 0 |
| Wisconsin | 0 | 0 | 0 | 0 | +43 | 0 | 0 | 0 | +200 | -80 |
| West Virginia | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| National (no state identified) | 3,728 | 331 | -3,397 | -2,610 | +264 | +313 | +1,905 | -343 | +5,626 | 2,192 |
Net Job Losses by Company – Fourth-Quarter 2010
The next table breaks down layoffs, hirings and net job changes by company
during the same period.
| Company | Layoffs | Hirings | Net Job Change |
|---|---|---|---|
| Advanced Call Center Technologies | 0 | 150 | +150 |
| Affiliated Mortgage Co. | 0 | 65 | +65 |
| Bank of America Corp. | 300 | 100 | -200 |
| Bank of New York Mellon | 9 | 0 | -9 |
| Brand Mortgage Group | 0 | 13 | +13 |
| Capital One | 15 | 0 | -15 |
| David J. Stern | 560 | 0 | -560 |
| Digital Risk LLC | 0 | 50 | +50 |
| FBC Mortgage LLC | 0 | 18 | +18 |
| First Mortgage Corp. | 0 | 31 | +31 |
| First Preferred Mortgage Co. | 0 | 50 | +50 |
| First Tennessee Bank, N.A. | 40 | 0 | -40 |
| Flagstar Bancorp Inc. | 7 | 0 | -7 |
| Foundation Financial Group | 0 | 85 | +85 |
| Freddie Mac | 50 | 0 | -50 |
| Gold Star Mortgage Financial Group | 0 | 56 | +56 |
| Great Oak Lending Partners | 0 | 25 | +25 |
| Hancock Bank | 1 | 0 | -1 |
| IBM | 0 | 75 | +75 |
| JPMorgan Chase & Co. | 0 | 759 | +759 |
| LeaderOneFinancial | 0 | 5 | +5 |
| LendingTree LLC | 0 | 200 | +200 |
| loanDepot.com | 0 | 75 | +75 |
| MetLife | 0 | 582 | +582 |
| Mortgage Masters Inc. | 0 | 25 | +25 |
| Nextier Bank | 10 | 0 | -10 |
| NorthStar Alliance Inc. | 50 | 0 | -50 |
| Ocwen Financial Corp. | 1,147 | 0 | -1,147 |
| Quicken Loans Inc. | 300 | 0 | -300 |
| Skyline Financial Corp. | 0 | 45 | +45 |
| Stewart Lender Services | 0 | 50 | +50 |
| The PNC Financial Group Inc. | 8 | 400 | +392 |
| Toronto-Dominion Bank | 0 | 50 | +50 |
| Urban Financial Group | 0 | 5 | +5 |
| Virgin Money USA Inc. | 25 | 0 | -25 |
| Wells Fargo & Co. | 4,091 | 0 | -4,091 |
| Wingspan Portfolio Advisors | 0 | 75 | +75 |
| TOTAL | 6,613 | 2,989 | -3,624 |
Q4 2010 Notes and Methodology
- Positive figures represent net job gains; negative figures represent net job losses.
- Reflects mortgage layoffs, hirings and mortgage company closings tracked from Oct. 1, 2010, to Dec. 31, 2010, generally involving at least 50 people.
- Data was primarily derived from stories published by MortgageDaily.com.
- For layoffs where only national totals were available but impacted states were known, half of the layoffs were attributed to the state where the company was based and the remainder distributed among the other 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 numbers were estimated.
- When bank-wide layoffs were reported, 10% was typically used to approximate the mortgage job share.
