Employment Declines in Mortgage Industry

By Kyle Chezum Updated on 11/29/2010

11/29/2010

In October 2005, over 500,000 people were employed in the mortgage industry. Today, that number rests around 246,400. The third quarter of 2010 saw a decrease in employment numbers due to the closure of Wells Fargo’s Financial Inc. division.

Mortgage industry employment had actually been increasing slowly throughout 2010 and would have seen a gain in the third quarter as well if not for the Wells Fargo layoffs. Still, a decrease is a decrease. California was the hardest hit, according to data tracked by MortgageDaily.com.

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About The Author:

Kyle Chezum

My name is Kyle Chezum. I'm a Marketing Associate here at Lender411com. If you have any questions, feel free to contact me. Thanks!.

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