Mortgage and Finance: From the Recession to Now

Mortgage and Finance From the Recession to now The US Recession On average, the mortgage and finance industries fared better than the country as a whole Unemployment Rate IN 2013 10% Financial unemployment went down from: 8% 5.5% 6% to 4% 4.2% Total Labor Force Financial Industry 77,000 US Recession Financial jobs were created 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 First Month of Each Year Hourly wages steadily increased in the finance industry and its sub-sectors Average Hourly Wage IN 2013 Average financial industry hourly wage increased from: $50 $40 $30 $29.91 to $20 Financial Industry (Total) $30.42 Mortgage Industry Subsector of Finance $10 Securities, Commodity Contracts, and Investments Subsector of Finance 2006 2007 2008 2009 2010 2011 2012 2013 2014 US Recession Third Month of Each Year An Industry in Flux Dodd-Frank Act S.A.F.E. Act 398 total requirements enforcing financial regulatory reform Individual Originators employed by Agency-regulated institutions must: Register with the Registry and maintain registration 110 requirements 201 Obtain a unique identifier through the Registry requirements have been met with finalized rules have not yet been proposed to meet requirements Agency-regulated institutions must: rules 87 requirements Require mortgage loan originator employees to comply with requirements have proposals to meet requirements Adopt and follow written policies to ensure compliance Impact of Recovery Standard & Poor's Case-Shiller index Residential real estate value 225 200 175 150 125 100 2009 2010 2011 2012 2013 2014 Year Dow Jones NASDAQ S&P 5 year change: 5 year change: 5 year change: %99.68 %180.81 %118.23 20,000- 4,500 20,000 18,000 4,000 18,000 16,000 3,500 16,000 14,000 3,000 14,000 12,000 - 2,500 12,000 10,000 2.000 10,000 8,000 - 1,500 - 8,000 - 6,000 - 1,000 - 6,000 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014 Year Year Year ADECCO 2013 MORTGAGE AND FINANCE PLACEMENTS 1500 1200 900 Accounting function 1,050 jobs Finance and Mortgage 1,395 jobs Payroll, Collections and Accounts Payable 1,037 jobs 600 Positions include: accountants (all levels), cost accountants, and tax accountants Positions include: Mortgage loan processors, mortgage clerks, mortgage credit analysts, financial analysts, and insurance underwriters Positions include: accounts payable, accounts receivable, payroll clerks, and collection agents 300 Top 10 States for Mortgage and Finance Job Placements in 2013 CA TX NY NC OH FL NJ PA IN VA MA 50 100 150 Number of Job Placements SOURCES: trodingeconomics.com/united-states/gdp-growth-annual bls.gov/iog/tgs/iog50.htm davispolk.com/Dodd-Frank-Rulemaking-Progress-Report/ ffiec.gov/safeact.htm US.spindices.com/index-family/real-estate/sp-case-shiller money.cnn.com/data/markets/dow/ money.cnn.com/data/markets/nasdaq/ money.cnn.com/data/markets/sandp/ Additional data provided by Adecco Adecco better work, better life Index Level %24 %24