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You're Now Reading:
Mortgage Industry Employment Halved Since 2005
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You're Now Reading:
Mortgage Industry Employment Halved Since 2005
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Mortgage Industry Employment Halved Since 2005
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

November 30 2010 (Chris Moore)
half-off-image
In October 2005, just prior to the peak of the housing boom, there were a record high 535,400 mortgage brokers, loan officers, mortgage underwriters, loan processors, and others working in the mortgage financial industry. Total mortgage industry employment today is estimated at 246,400, less than half reported at the industry’s peak.

After two quarters of industry job gains, the Third-Quarter 2010 Mortgage Employment Index from MortgageDaily.com reports that 930 jobs were lost in the third quarter of 2010.

During the quarter a total of 3,216 job losses were recorded, worse than the 2,028 job losses seen a quarter earlier, but far fewer than the 5,401 recorded last year. A total of 2,286 jobs were gained, a decline of 382 jobs from the second quarter.

Most of the jobs were lost due to Wells Fargo’s decision to close its wholesale division, Wells Fargo Financial. More than a hundred layoffs were also reported for First Mortgage Corp. and Wealthbridge Mortgage.

More layoffs occurred in California than any other state, but along with Texas, had several hundred hiring’s to counter the job losses. The states with the largest net losses were Maryland, Illinois and Oregon

North Carolina had the biggest job gains of any state with a net gain of more than 500 jobs.

Tags: mortgage industry employment, mortgage brokers, loan officers, mortgage underwriters, loan processors, mortgage industry, job losses, employment gains, layoffs

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

November 30 2010 (Chris Moore)
half-off-image
In October 2005, just prior to the peak of the housing boom, there were a record high 535,400 mortgage brokers, loan officers, mortgage underwriters, loan processors, and others working in the mortgage financial industry. Total mortgage industry employment today is estimated at 246,400, less than half reported at the industry’s peak.

After two quarters of industry job gains, the Third-Quarter 2010 Mortgage Employment Index from MortgageDaily.com reports that 930 jobs were lost in the third quarter of 2010.

During the quarter a total of 3,216 job losses were recorded, worse than the 2,028 job losses seen a quarter earlier, but far fewer than the 5,401 recorded last year. A total of 2,286 jobs were gained, a decline of 382 jobs from the second quarter.

Most of the jobs were lost due to Wells Fargo’s decision to close its wholesale division, Wells Fargo Financial. More than a hundred layoffs were also reported for First Mortgage Corp. and Wealthbridge Mortgage.

More layoffs occurred in California than any other state, but along with Texas, had several hundred hiring’s to counter the job losses. The states with the largest net losses were Maryland, Illinois and Oregon

North Carolina had the biggest job gains of any state with a net gain of more than 500 jobs.

Tags: mortgage industry employment, mortgage brokers, loan officers, mortgage underwriters, loan processors, mortgage industry, job losses, employment gains, layoffs

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

November 30 2010 (Chris Moore)
half-off-image
In October 2005, just prior to the peak of the housing boom, there were a record high 535,400 mortgage brokers, loan officers, mortgage underwriters, loan processors, and others working in the mortgage financial industry. Total mortgage industry employment today is estimated at 246,400, less than half reported at the industry’s peak.

After two quarters of industry job gains, the Third-Quarter 2010 Mortgage Employment Index from MortgageDaily.com reports that 930 jobs were lost in the third quarter of 2010.

During the quarter a total of 3,216 job losses were recorded, worse than the 2,028 job losses seen a quarter earlier, but far fewer than the 5,401 recorded last year. A total of 2,286 jobs were gained, a decline of 382 jobs from the second quarter.

Most of the jobs were lost due to Wells Fargo’s decision to close its wholesale division, Wells Fargo Financial. More than a hundred layoffs were also reported for First Mortgage Corp. and Wealthbridge Mortgage.

More layoffs occurred in California than any other state, but along with Texas, had several hundred hiring’s to counter the job losses. The states with the largest net losses were Maryland, Illinois and Oregon

North Carolina had the biggest job gains of any state with a net gain of more than 500 jobs.

Tags: mortgage industry employment, mortgage brokers, loan officers, mortgage underwriters, loan processors, mortgage industry, job losses, employment gains, layoffs

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.