Employment in the mortgage industry held steady in December after lenders added 32,200 new employees to their payrolls in 2004, according to Friday's jobs report by the Bureau of Labor Statistics.The BLS reported that employment in the mortgage banking/broker sector rose by only 200 full-time positions in December to 486,400. (There is a one-month delay in the release of mortgage employment data. The BLS will release the January data on March 4.) Data for the full year show that the annual rate of employment in the mortgage industry rose by 6% in 2004, to 473,800. Meanwhile, Friday's employment report showed that the economy generated 146,000 new jobs in January, and the unemployment rate declined to 5.2%.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
7h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
9h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
10h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
April 19 -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
April 19 -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18