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Mortgage industry grows, but not in N.Y.

From The Real Deal

Editor’s note: This article is reposted with permission by The Real Deal. Click here to view the original article.

The mortgage industry saw employment expand in 2009 following three years that amounted to more than 100,000 job losses, according to a fourth-quarter report from MortgageDaily.com, though the good news eluded the state of New York.

Last year saw the creation of a net 8,321 mortgage industry jobs countrywide, a major improvement over the 36,766 net jobs lost in 2008 and the 88,817 jobs the industry shed during 2007.

Nearly 31,000 mortgage professionals were hired in the country during 2009, 5,849 of which were hired during the fourth quarter, while 22,578 were laid off. Fewer than 3,000 mortgage employees were laid off in the fourth quarter.

New York had more layoffs than any other state, with 600 employees having lost their jobs and a net of 500 jobs shed across the state’s mortgage industry.

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