Mortgage Employment Index Jumps Most in Nearly 4 Years

DALLAS, June 3, 2013 /PRNewswire/ -- The first quarter proved to be the best since 2009 for jobs in real estate finance. Much of the gain was in the state of Michigan.

The mortgage industry had a net gain of 5,129 jobs in the first quarter, according to the Mortgage Employment Index from Mortgage Daily.

It was the best showing since the second-quarter 2009, when there was a net gain of 8,253 mortgage-related jobs over the prior period.

The net job gain was 2,571 three months earlier and a revised 2,969 a year earlier.

The findings were based on job activity covered by Mortgage Daily.

The most recent total reflected 2,930 layoffs and 8,059 hirings.

Period

Layoffs

Hirings

Net

Q1 2013

2,930

8,059

+5,129

Q4 2012

2,404

4,975

+2,571

Q1 2012*

3,881

6,850

2,969

*revised




Thanks to aggressive growth at Quicken Loans, Michigan turned in the biggest increase of any state.

Hirings in Tempe, Ariz., helped land the Grand Canyon State in the No. 2 position.

Biggest Job Gains by State

State

Net

Michigan

+2,433

Arizona

+1,150

Texas

+607

Missouri

+227

Georgia

+200

At the other end of the scale were the Carolinas, which had more mortgage job losses than any other states.

Biggest Job Losses by State

State

Net

North Carolina

-314

South Carolina

-298

Minnesota

-210

California

-200

Florida

-117

Quicken had the biggest gain of any company, followed by Wells Fargo and Nationstar Mortgage.

Biggest Job Gains by Company

Company

Net

Quicken

+2,000

Wells Fargo

+1,475

Nationstar

+700

PHH Mortgage

+450

Wingspan

+400

Title Source

+400

As they scaled back their massive default servicing staffs, JPMorgan Chase and Bank of America took the biggest hits.

Biggest Job Losses by Company

Company

Net

Chase

-821

BofA

-651

HSBC

-400

View full Q1 2013 report is available to subscribers at: www.MortgageDaily.com/MortgageEmploymentIndex060313.asp?spcode=pr

Historical Mortgage Employment Index data is available at: http://www.mortgagedaily.com/MortgageEmploymentIndex.asp?spcode=pr

Mortgage employment news:
http://www.mortgagedaily.com/MortgageEmployment.asp?spcode=pr

About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, Mortgage Daily is a leading online source of mortgage news and mortgage statistics . In addition to the Employment Index, Mortgage Daily also publishes the weekly Mortgage Market Index and quarterly Mortgage Litigation Index, Mortgage Fraud Index and ranking of the biggest lenders and servicers. Visit Mortgage Daily at www.MortgageDaily.com.

CONTACT:
Holly Himelright
214.521.1300
journalists request complimentary report:
newsalert@MortgageDaily.com 

     

SOURCE Mortgage Daily



More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.