The mortgage and finance industry is in a state of deep flux. On average, these industries have fared better than the country as a whole. In 2013, financial unemployment went down from 5.5 percent to 4.2 percent—77,000 financial jobs were created. Average financial industry hourly wages increased from $29.91 to $30.42. The Dodd-Frank Act brought 398 total requirements enforcing financial regulatory reform—201 requirements have been met with finalized rules. The S.A.F.E. Act brought some key enforcements as well. Individual Originators employed by Agency-regulated institutions must register with the Registry and maintain registration and obtain a unique identifier through the Registry. Agency-regulated institutions must require mortgage loan originator employees to comply with requirements and adapt and follow written policies to ensure compliance.
The Dow Jones, NASDAQ and S&P have all exhibited significant five year growth. To learn more about the impact of the recovery as well as the top 10 states for mortgage and finance job placements in 2013, check out the full infographic below.
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