Mortgage companies shaved 4,900 full-time employees off their payrolls in May after cutting 9,200 in April, according to the latest government report.The U.S. Bureau of Labor Statistics reported that employment in the mortgage banking/broker sector fell from 472,000 in April to 467,100 in May. The report indicates that 5,400 mortgage brokers exited the business in May -- the first significant decline since January. The employment numbers for other mortgage professionals stabilized in May after 17,400 job cuts since January. The BLS can be found online at http://stats.bls.gov.
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