Mortgage Daily Mortgage Employment Index Q4 2015

DALLAS, April 4, 2016 /PRNewswire/ -- Quarterly layoffs outpaced hirings in real estate finance, with job losses accelerating over the prior quarter but slowing from a year earlier.

As of the fourth-quarter 2015, there were an estimated 626,500 people employed in the mortgage industry, according to a Mortgage Daily analysis of employment data.

Estimated staffing declined from a downwardly revised 640,400 three months earlier. But industry headcount expanded from an upwardly revised 621,800 a year earlier.

The latest total was comprised of 261,800 mortgage jobs at banks, 63,700 home-lending employees at credit unions and 301,000 people at non-bank mortgage firms.

In the Mortgage Daily Fourth Quarter 2015 Mortgage Employment Index report, 1,120 more layoffs were tracked than hirings.

Net job losses accelerated from 921 in the third quarter but slowed from 3,699 in the fourth-quarter 2014.

The most-recent total reflected 3,335 layoffs, fewer than the third-quarter's 4,797 and the fourth-quarter 2014's 6,651 layoffs.

Also factored in the latest total were 2,215 hirings, fewer than 3,876 in the previous period and 2,952 during the year-earlier period.

The Garden State had the biggest net gain in mortgage jobs.

Biggest Q4 Job Gains by State

With 354 more layoffs than hirings tracked, North Carolina fared worst among all states.

Biggest Q4 Job Losses by State

Among mortgage-related companies, Freedom Mortgage's reported hiring plans gave it the biggest net improvement.

Biggest Q4 Job Gains by Company 

With a fourth-quarter 2015 net loss of 1,100 mortgage jobs, Bank of America fared worst.

Biggest Q4 Job Losses by Company

For all of 2015, net job losses were 3,035, substantially lower than the 28,337 in 2014.

Full Q4 2015 report is available to subscribers:
www.MortgageDaily.com/stories/MortgageEmploymentIndex040416.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 and a ranking of the biggest lenders. Visit Mortgage Daily at www.MortgageDaily.com.

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SOURCE Mortgage Daily