Jobs Migrate North in Q1 Mortgage Employment Index

DALLAS, July 13, 2015 /PRNewswire/ -- The number of people working in home lending has fallen on a quarterly basis, though there was a recent monthly upturn. Mortgage jobs appear to be migrating North.

As of March 31, an estimated 544,700 people were employed in the mortgage industry. The estimate was based on government and origination market share data analyzed by Mortgage Daily.

The total included an estimated 210,800 mortgage jobs at banks, an estimated 49,400 mortgage positions at credit unions and 284,500 employees at non-bank mortgage firms.

Total headcount in real estate finance declined from an estimated 577,800 people who were employed in the business as of the fourth-quarter 2014. 

Staffing in home lending was also reduced from the first-quarter 2014, when mortgage employment was estimated at 597,000.

In Mortgage Daily's First Quarter 2015 Mortgage Employment Index, there was little change in the number of jobs, with hirings slightly out pacing layoffs by a mere 36 positions.

But there was some residential loan staffing action between states, with Florida seeing in excess of 500 more mortgage layoffs than hirings.

Biggest Job Losses by State

New Jersey fared well in the latest index, growing its mortgage force by nearly 400 jobs.

Biggest Job Gains by State

Three of the nation's biggest mortgage servicers -- Bank of America, Chase and Walter Investment -- had the biggest reported mortgage staffing reductions.

Biggest Job Losses by Company 

The big gainer in mortgage jobs for the quarter was Freedom Mortgage, though healthy growth was also reported for Fairway Independent Mortgage.

Biggest Job Gains by Company 

Full Q1 2015 report is available to subscribers:www.MortgageDaily.com/stories/MortgageEmploymentIndex071315.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

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. Mortgage Daily also publishes the Mortgage Market Index, Mortgage Litigation Index, Mortgage Fraud Index and ranking of the biggest lenders. Visit Mortgage Daily at www.MortgageDaily.com.

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SOURCE Mortgage Daily