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Number of mortgage bankers and/or brokers on the rise.

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Jan 15, 2002
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Certified Residential Appraiser
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North Carolina
Mortgage Banking a Growing Occupation

(July 25) -- The mortgage banking industry is America's fastest-growing employment category, adding 55,000 workers since March 2001 and increasing 18 percent over the past 15 months.

There are some 365,000 mortgage banking employees today, and industry experts expect the number to continue to swell, as consumers borrow more to take advantage of favorable interest rates and invest in real estate as an alternative to stocks. Although new technology has enabled mortgage loan officers to improve productivity, increased demand has forced the industry to add more workers.

The mortgage demand has had a spill-over effect on real estate companies and the residential construction industry, which have added 14,000 jobs and 56,000 jobs, respectively, since last March.

Source: Bloomberg Online (07/22/02); Enochs, Liz
 

Richard Carlsen

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Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I hope the number keeps growing because what this country needs in a million mortgage bankers and a million lawyers. Why with one group refinancing our houses putting money in our pockets and the other group figuring out sneaky ways to take it out, we citizens will be the center of attention for a long time to come.

Won't life be grand?
 
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