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88 STATE OF AFFAIRS: SOUTH/WEST » Texas RANK: 41 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JANUARY 2014 2.47% 0.89% 0.89% YEAR AGO 2.51% 1.26% 1.26% YEAR-OVER-YEAR CHANGE -1.6% -29.8% -29.8% Top County PECOS COUNTY 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 1.18% 3.35% YEAR AGO 1.25% 1.51% YEAR-OVER-YEAR CHANGE -5.2% 122.0% Top Core-Based Statistical Area EAGLE PASS, TX 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 2.55% 2.03% YEAR AGO 3.20% 1.73% YEAR-OVER-YEAR CHANGE -20.5% 17.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary January 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Texas Bonita Foucher, REALTOR Coldwell Banker APEX, REALTORS 7705 San Jacinto Place #200 Plano, TX 75024 (214) 455-4021 cell | (972) 208-8797 office (972) 208-7711 fax | b.foucher@tx.rr.com www.bfoucher.cbapex.com workers to nonfarm payrolls throughout the month. e unemployment rate for the Lone Star state held steady at 5.7 percent, and gains in employment were broadly based. Seasonally adjusted, Texas' 5.7 percent un- employment rate falls a full point below the national average of 6.7 percent. Unemploy- ment has been steadily declining since 2010, according to the group's report. e largest employment gains in the month were made in professional and busi- ness services, adding 10,600 jobs. Jobs in fi- nancial activities grew 7,400, and government jobs grew by 6,600 for February. Construc- tion, a key component in fueling the housing market, experienced gains as well, posting an increase of 5,700 jobs. Despite worsening at the end of 2013, the financial activities sector is rebounding, particularly in Dallas. "More financial firms pour into the state to provide services to the oil & gas and tech industries, as well as the rapidly growing population," the report said. Austin, however, posted its first monthly loss since May 2011. However, year-over-year growth is still up at 3.9 percent, keeping the state's capital firmly in the lead of the state's economy. Overall, Houston and Dallas made solid gains in the month, reversing recent weak- nesses. 114 More Jobs Cut by Bank of America Bank of America filed a worker adjust- ment and retraining notification (WARN) with the Texas Workforce Commission (TWC), alerting the TWC of impending layoffs in three of the bank's North Texas offices. e notice was sent on March 3, detail- ing layoffs of 114 workers from two offices in Plano and one in Richardson. e layoff date was April 13 for the Plano offices and April 23 for the Richardson office. Previously in February, Bank of America released 280 workers from their mortgage operations area in St. Charles, Missouri, as well as 450 workers from the bank's West Coast offices in light of declining business in new loan production. At the time of the February layoffs, a company spokesperson said, "e number of delinquent mortgage loans we service has decreased to less than one-third of the peak levels. As we continue to resolve the needs of customers with delinquent loans, we are reducing the size of the operations that support these specialized programs." Bank of America is not the only bank to lay off workers in the wake of declining home mortgage services. Wells Fargo released 700 workers across the country in late February, continuing previous layoffs from August, September, and October. IN THE NEWS Texas Employment Still Growing; Oil and Gas Industry Lead Texas employment grew in the month of February, particularly in the oil and gas industry, according to a new report from the Wells Fargo Economics Group. e group from Wells found that Texas added 37,600 In Texas, homebuyers who receive pre- purchase education are one-third less likely to fall behind on their mortgages by 90 days or more, compared to homebuyers who didn't take a homebuyer education course, according to the Texas State Affordable Housing Corporation (TSAHC). KNOW THIS MORTGAGE MARKETS TODAY Real Talk. Real Experts. All on your schedule. Subscribe today on itunes radio.thefi vestar.com MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE MORTGAGE All on your schedule. All on your schedule.