Application processor vs closing coordinator

The differences between application processors and closing coordinators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an application processor and a closing coordinator. Additionally, a closing coordinator has an average salary of $39,066, which is higher than the $32,435 average annual salary of an application processor.

The top three skills for an application processor include data entry, loan applications and application processing. The most important skills for a closing coordinator are customer service, escrow, and HOA.

Application processor vs closing coordinator overview

	Application Processor	Closing Coordinator
Yearly salary	$32,435	$39,066
Hourly rate	$15.59	$18.78
Growth rate	-3%	-3%
Number of jobs	20,859	19,203
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 50%
Average age	42	42
Years of experience	4	4

Application processor vs closing coordinator salary

Application processors and closing coordinators have different pay scales, as shown below.

	Application Processor	Closing Coordinator
Average salary	$32,435	$39,066
Salary range	Between $27,000 And $38,000	Between $29,000 And $52,000
Highest paying City	Santa Rosa, CA	Kirkland, WA
Highest paying state	West Virginia	Washington
Best paying company	PSECU	HarbourVest
Best paying industry	Manufacturing	Finance

Differences between application processor and closing coordinator education

There are a few differences between an application processor and a closing coordinator in terms of educational background:

	Application Processor	Closing Coordinator
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 50%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Application processor vs closing coordinator demographics

Here are the differences between application processors' and closing coordinators' demographics:

	Application Processor	Closing Coordinator
Average age	42	42
Gender ratio	Male, 25.2% Female, 74.8%	Male, 20.8% Female, 79.2%
Race ratio	Black or African American, 13.6% Unknown, 4.3% Hispanic or Latino, 13.3% Asian, 7.2% White, 61.2% American Indian and Alaska Native, 0.4%	Black or African American, 12.7% Unknown, 4.7% Hispanic or Latino, 15.8% Asian, 6.3% White, 59.9% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between application processor and closing coordinator duties and responsibilities

Application processor example responsibilities.

Manage a monthly pipeline averaging 100 files from origination to funding per month as a Jr. processor.
Execute the origination process, including ordering credit reports, appraisals and preliminary title reports.
Work in mailroom sorting mail by zip codes.
Maintain A/P, A/R, and report payroll.
Participate in specialty functions of all aspects of the mailroom.
Utilize PeopleSoft and OnBase programs to classify and index data.

Closing coordinator example responsibilities.

Manage scheduling loans for closing, handle insurance review, verify wire transfer, register and transfer loans with MERS.
Endorse VA and HUD mortgage insurance, paid premiums and send documents to proper personnel.
Audit loans purchase for GNMA, FNMA & FHLMC to ensure they meet their guidelines.
Facilitate processors in getting FHA close loan packages out to FHA to meet the insurance deadlines.
Review of foreclosure deeds for correctness including vesting, recording information, and notary acknowledgment.
Organize date into TSS and compose title binder for mortgage processing.

Application processor vs closing coordinator skills

Common application processor skills

Data Entry, 32%
Loan Applications, 9%
Application Processing, 8%
Medicaid, 6%
Customer Accounts, 5%
Origination, 4%

Common closing coordinator skills

Customer Service, 23%
Escrow, 8%
HOA, 5%
HUD-1, 5%
Lender Approval, 5%
Settlement Statements, 5%

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Application Processor vs Closing Coordinator

Updated January 8, 2025

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