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Mortgage industry loses jobs

July 13, 2015

Mortgage industry employment was lower in the first quarter on an annual and sequential basis, according to an index released by Mortgage Daily. However a recent monthly increase suggests mortgage jobs may be heading upward.

An estimated 544,700 people were employed in the mortgage industry as of March 31, according to the report. This 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 sequentially from an estimated 577,800 people in the fourth-quarter of 2014, and year over year from an estimated 597,000 in the first quarter of 2014.

The states with the biggest job losses include:

  • Florida: -516
  • Virginia: -143
  • Texas: -35
  • California: -57
  • Connecticut: -30

The biggest job losses by company include:

  • Walter Investment: -700
  • BofA: -318
  • Chase: -226
  • Altisource: -200
  • Trulia: -140

The biggest job gains by company include:

  • Freedom Mortgage: +501
  • Fairway Independent: +244
  • loanDepot: +182
  • Stonegate Mortgage: +175
  • Guaranteed Rate: +118