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Sunday, February 28, 2010

Canadian Mortgage Broker News - U.S. mortgage employment increases

Canadian Mortgage Broker News - U.S. mortgage employment increases

U.S. mortgage employment increases


A turnaround of sorts has been noted in U.S. mortgage employment. After three straight years in which a total 128,329 mortgage jobs were lost from 2006 to 2008, there were again gains in that field in 2009, according to an employment index.

MortgageDaily.com''s 2009 Mortgage Employment Index shows 8,321 jobs were gained last year.
The strongest gains were in Texas, where lenders added 1,722 jobs. Still, some states struggled, as 2,797 layoffs occurred in Illinois - higher than any other state. Florida and Washington also had job losses in excess of 1,000.

In the fourth quarter alone, California had the strongest performance in mortgage job growth, with 987 added. Iowa was close behind. New York lost some 500 mortgage jobs in the final quarter, the worst of any state.

Bank of America led the way in terms of companies hiring in the fourth quarter of 2009, adding 2,500 mortgage jobs. Wells Fargo & Co. wasn''t far behind.