Mortgage Employment Jumps Again

Mortgage employment broke yet another record in July as the industry added 3,800 full-time jobs to the previous month's total.According to figures compiled by the Bureau of Labor Statistics, the mortgage banking/brokerage sectors employed 292,100 full-timers in July compared with 288,300 in June. A year ago the industry employed 252,400. Over the past 12 months industry employment has increased by a startling 15.7%. Mortgage lenders are beginning to have trouble finding enough qualified loan processors and underwriters. Residential lenders are on track to produce a record-breaking $1.2 trillion in loans this year. Some lenders expect demand to decline in the fall and winter months when homebuying traffic typically slows. The BLS website address is http://stats.bls.gov.