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Mortgage industry adds most jobs in four years

June 03 2013

The mortgage industry added 5,129 jobs in the first quarter of 2013, based on 2,930 layoffs and 8,059 hirings, according to the mortgage employment index from Mortgage Daily. The increase is the most since the second quarter of 2009.

The net job gain was 2,571 in the prior quarter and 2,969 in the first quarter of 2012.

Michigan had the biggest increase of the states with a net 2,433 jobs, attributable to aggressive growth at Quicken Loans, which added 2,000.

The states with the biggest job net gains include:

  1. Michigan: 2,433
  2. Arizona: 1,150
  3. Texas: 607
  4. Missouri: 227
  5. Georgia: 200

The largest gains by company include:

  1. Quicken: 2,000
  2. Wells Fargo: 1,475
  3. Nationstar: 700
  4. PHH Mortgage: 450
  5. Wingspan: 400
  6. Title Source: 400

At the other end of the scale was the Carolinas, which logged the most mortgage job losses: North Carolina with 314 and South Carolina with 298. JPMorgan Chase and Bank of America scaled back their default servicing staffs, contributing to job losses of 821 and 651 respectively.

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