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Mortgage Employment By State – Third Quarter 2008

Mortgage Employment By StateThird Quarter 2008
Published October 6, 2008
State
 Q3 2008
Layoffs		 Q3 2008
Hirings		 Q3 2008
Net
Q2 2008 Net
(revised)
Q1 2008 Net
(revised)
2007 Net
(revised)
Alaska 0 0 0 0
0
+10
0
Arizona 29 0 -29 -62
-100
-2,505
3,791
California 1,964 50 -1,914 -827
-3,915
-16,433
-5,397
Colorado 0 50 50 0
-150
+4
+44
Connecticut 0 0 0 0
0
-1,698
+426
Delaware 0 0 0 0
0
+200
-153
Florida 210 99 -111 -244
-1,539
-2,507
-444
Georgia 0 0 0 0
-60
-1,623
+19
Idaho 0 0 0 0
0
-49
0
Illinois (10.28.08: added 214 HSBC layoffs) 459 0 -459 -118
-132
-1,738
-127
Indiana 0 50 50 0
-294
-694
-650
Iowa 190 0 -190 0
-415
-85
+2,000
Kansas 25 0 -25 0
-200
-60
0
Kentucky 0 0 0 0
0
-530
+273
Louisiana 0 0 0 0
0
+130
0
Maine 0 0 0 0
-90
0
0
Maryland 0 0 0 0
-115
-285
+100
Massachusetts 0 100 100 0
0
+47
+150
Michigan 0 0 0 -125
+37
-109
+350
Minnesota 0 0 0 0
-125
-309
0
Mississippi 25 0 -25 0 0 0 0
Missouri 0 50 50 0
-194
-655
-25
Montana 0 0 0 0
-80
0
0
Nebraska 0 0 0 0
0
0
+150
Nevada 10 0 -10 0
0
-547
0
New Jersey 495 0 -495 -100
-684
-697
-17
New Mexico 27 0 -27 0 0 0 0
New York 90 22 -68 -50
-225
-2,071
+459
North Carolina 142 50 -92 -50
-65
-964
+675
Ohio
(revised 10.21.08)		 312 100 -212 -188
0
-845
-24
Oklahoma 0 0 0 +50
0
0
0
Oregon 39 25 -14 -100
-50
-91
0
Pennsylvania 266 0 -266 -217
0
-313
-47
Rhode Island 0 0 0 0
0
0
0
South Carolina 0 0 0 0
0
-900
-31
Tennessee 170 0 -170 0
-80
-135
-125
Texas 165 0 -165 -50
-150
+145
+1,375
Utah 0 0 0 0
+18
-36
0
Virginia 78 0 -78 0
0
-118
-203
Washington 51 50 -1 -898
-15
-745
-1,260
Washington, D.C. 0 300 300 0 0 0 0
Wisconsin 0 0 0 0
-45
-33
-470
West Viginia 32 0 -32 0 0 0 0
National
(revised 11.06.08)
 6,450 50 -6,400 -1,599
-5,537
-50,892
-3,585
TOTAL
(revised 11.06.08)
11,229
996
-10,233
 -4,578
-14,405
-87,131
-2,746
Q3 2008
Layoffs		 Q3 2008
Hirings		 Q3 2008
Net
……………
Net
Q2 2008
(revised)
Net
Q1 2008
(revised)
Net
2007
(revised)
Net
2006

Q3 2008 Notes

  • Positive figures represent net job gains.

  • Negative figures represent net job losses.

  • Reflects mortgage layoffs, hirings and mortgage company closings tracked from July 1, 2008 to Sept. 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.”

  • When an exact number of layoffs tied to a company closing was unavailable, 50 was used.

  • The number of companies involved in layoffs analyzed was 38.

  • 10.21.08: National City reported 384 Q3 mortgage layoffs.

    10.28.08: HSBC reported 214 Ill. layoffs occured on Sept. 30.

    11.06.08: Added 500 CTX Mortgage Layoffs

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

Company
Layoffs
Hirings
Net Job Change
Accredited Home Lenders Inc. 150 0 -150
Alpine Mortgage Planning 0 25 25
Alternative Mortgage Express 0 35 35
Ameribank Mortgage Company LLC 32 0 -32
Bank of America Corp. 78 0 -78
BankUnited Financial Corp. 160 0 -160
Citigroup Inc. 217 0 -217
Carteret Mortgage Corp. 400 0 -400
Cetus Mortgage Ltd. 10 0 -10
Charter Bank 12 0 -12
Columbia River Bank 39 0 -39
Countrywide Financial Corp. 168 0 -168
CTX Mortgage Company LLC (added Nov. 6, 2008) 500 0 -500
Fidelity Reverse 0 50 50
First American Corp. 52 0 -52
First Horizon National Corp. 170 0 -170
Freedom Mortgage Resolutions 0 100 100
Fremont Investment & Loan 243 0 -243
HSBC Mortgage Services (10.28.08: added 214 Ill. layoffs) 262 0 -262
HUD 0 300 300
IBM Lender Business Process 0 50 50
Ideal Mortgage Bankers Ltd 180 0 -180
IndyMac Bank FSB 3,050 0 -3,050
JPMorgan Chase & Co. 386 0 -386
KeyBank Real Estate Capital 113 50 -63
Lehman Brothers Small Business Finance 50 0 -50
Liberty Home Lending 50 0 -50
Mid Atlantic Capital LLC 600 0 -600
Mid-Island Mortgage Corp. 0 22 22
Mortgage Contracting Services 0 74 74
Mortgage Network 0 100 100
National City Corp. (added 10.21.08) 384 0 -384
NetMore America Inc. 0 50 50
OmniHome Financing Inc. 0 15 15
Residental Captial LLC 3,239 0 -3,239
Residential Finance 0 100 100
SunTrust Mortgage Inc. 30 0 -30
Thornburg Mortgage Inc. 29 0 -29
Value Financial 0 25 25
Wachovia Corp. 625 0 -625
TOTAL
(revised 11.06.08)
11,229
996
-10,233

Mortgage Employment Index main |
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