Employment data

Employment in the nonbank mortgage lender and brokerage sector is falling in the face of rising interest rates and the limited supply of homes for sale.

The deadline to participate in the Top Producers Survey is Wed. Feb. 28 at 6 p.m. EST. The 20th annual loan officer ranking has a number of new features to highlight the accomplishments of the industry's top performers.

A December hiring spike at nondepository mortgage originators ended a three-month skid and solidified the fourth straight year of job gains in the sector. But with loan volume projected to decline again in 2018, it remains to be seen whether nonbanks will add more workers or start making cuts.

With compensation accounting for 80% of the cost to originate a mortgage, lenders are developing new strategies to attract and retain top talent, while keeping wage expenses in check.

Refinance volume fueled recent market gains by nonbank mortgage originators. But lower volume amid the shift to purchase lending has nonbanks trimming headcounts and may position banks to recapture market share.

Nonbank mortgage employment fell for the second consecutive month, according to the Bureau of Labor Statistics.

Nonbank mortgage employment took its biggest drop since January following the recent hurricanes, according to the Bureau of Labor Statistics.

Nondepository mortgage bankers and brokers increased their headcounts in August, but hurricane recovery efforts and other macro factors may stymie additional growth.

Fewer new homes will be finished and added to the housing stock as construction crews go to Texas and Florida to help repair or replace damaged properties.

Nondepository mortgage bankers and brokers employment dipped slightly in July, ending a four-month run of hiring pickups.