Q3 Mortgage Employment Index Down, Wisconsin Leads

25 Jan, 2016, 07:24 ET from Mortgage Daily

DALLAS, Jan. 25, 2016 /PRNewswire/ -- Wisconsin led a quarterly contraction in mortgage staffing, though nearby Michigan had a healthy gain. 

At the end of the third-quarter 2015, there were an estimated 644,300 people who were employed in mortgage-related positions.

That was based on a Mortgage Daily analysis of government data and origination market share.

Total industry headcount declined from the second quarter, when it was an estimated 646,100.

It grew, though, from the third-quarter 2014, when the total was an estimated 630,200.

The Sept. 30, 2015, total consisted of an estimated 284,600 mortgage jobs at banks, 60,000 home lending employees at credit unions and 299,700 people working at non-bank mortgage firms.

Mortgage Staffing by Quarter

Type

Q3 2015

Banks

284,600

Credit Unions

60,000

Non-Banks

299,700

Total

644,300

In the Mortgage Daily Third Quarter 2015 Mortgage Employment Index report, there were 4,797 mortgage-related layoffs tracked during the period from July 1, 2015, through Sept. 30.

During the same period, there were just 3,876 hirings tracked -- putting the net loss of jobs tracked at 921.

Michigan had the biggest gain of any state.

Biggest Q3 Job Gains by State

State

Net

Michigan

+1,058

Arizona

+300

Virginia

+262

Washington

+86

Florida

+82

There was a bigger net loss of mortgage jobs tracked in Wisconsin than any other state: 722.

Biggest Q3 Job Losses by State

State

Net

Wisconsin

-722

New York

-377

California

-370

Colorado

-265

Texas

-140

Looking at quarterly staffing changes by company, Quicken Loans had the biggest gain during the most-recent period.

Biggest Q3 Job Gains by Company

Company

Net

Quicken

1,000

loanDepot

+700

Movement Mortgage

+536

Guaranteed Rate

+301

Fairway Independent

+233

The largest home lender, Wells Fargo, had the biggest loss of any lender.

Biggest Q3 Job Losses by Company

Company

Net

Wells Fargo

1,434

Bank of America

-1,400

Discover Home Loans

-474

Chase

-350

Urban Lending Solutions

-265

Full Q3 2015 report is available to subscribers:
www.MortgageDaily.com/stories/MortgageEmploymentIndex012516.asp?spcode=pr

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

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

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SOURCE Mortgage Daily