Mortgage employment stabilizing
SPECIAL TO FLORIDA WEEKLY
Second-quarter jobs losses in the real estate finance sector fell by more than half from the prior quarter and the prior year, according to mortgage employment data tracked by www. mortgagedaily.com.
From April 1 to June 30, there were 5,889 mortgage-related layoffs tracked. During that same period, 100 jobs were added, bringing the net job loss to 5,789.
Hirings and layoffs tracked by MortgageDaily. com generally involve at least 50 people.
The latest figures compare to revised net job losses of 14,405 in the first quarter 2008 and approximately 12,752 in the second quarter 2007.
"We have seen mortgage-related layoffs decline each quarter since the third quarter 2007, when there were around 50,000 layoffs," said MortgageDaily. com Publisher Sam Garcia. "Pockets of growth are emerging in FHA lending, reverse lending and businesses that support back-office functions. We also expect to see future growth in commercial mortgage lending and loan servicing."
Government data indicate that mortgage employment has gone from 360,700 on March 31, 2008, to 357,800 as of May 31, 2008.
2nd Quarter 2008 Estimated Mortgage Job Losses
Top 5 States:
| Rank | State | Net Job Losses |
| 1. | Washington | -2,000 |
| 2. | California | -542 |
| 3. | Florida | -244 |
| 4. | Pennsylvania | -217 |
| 5. | Michigan | -125 |
| --- TOTAL U.S. | -5,789 |
Twitter | 
Facebook | 
RSS
