Mortgage Jobs Hit Record High

Employment in the mortgage industry reached all-time highs in October as lenders added 6,200 full-time employees to their payrolls, according to the U.S. Bureau of Labor Statistics.The BLS November employment report indicates that jobs in the mortgage banking/broker sector rose from 459,300 in September to 465,500 in October. (There is a one-month lag in BLS reporting of mortgage-sector employment data. The November data will not be released until Jan. 7.) The additional hiring comes at a time when originations are falling. Loan volume dropped 19% from the second quarter to $663.0 billion in the third quarter, according to the Quarterly Data Report, which is published by National Mortgage News. Meanwhile, BLS economists said job growth "continued in the mortgage-related industries" in November.