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The differences between branch lending officers and escrow officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a branch lending officer and an escrow officer. Additionally, an escrow officer has an average salary of $50,270, which is higher than the $46,615 average annual salary of a branch lending officer.
The top three skills for a branch lending officer include business relationships, origination and FHA. The most important skills for an escrow officer are customer service, HOA, and title insurance.
| Branch Lending Officer | Escrow Officer | |
| Yearly salary | $46,615 | $50,270 |
| Hourly rate | $22.41 | $24.17 |
| Growth rate | 4% | 4% |
| Number of jobs | 70,689 | 62,077 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 47% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A branch lending officer is typically in charge of processing loan applications, ensuring accuracy and smooth workflow. Their responsibilities revolve around liaising with clients to identify their needs, conducting interviews and assessments, gathering and reviewing requirements, and coordinating with analysts and other staff. They may also perform clerical tasks such as answering calls and correspondence, arranging appointments, and maintaining records of all transactions. Furthermore, as a branch lending officer, it is essential to provide efficient customer service, all while adhering to the company's policies and regulations, including its vision and mission.
Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller. They verify the document of land ownership, checking property title, and consulting with potential buyers, sellers, and lending firms. It is also their responsibility to handle the deposition of funds and processing of legal documents, including paperwork to finalize the transaction.
Branch lending officers and escrow officers have different pay scales, as shown below.
| Branch Lending Officer | Escrow Officer | |
| Average salary | $46,615 | $50,270 |
| Salary range | Between $29,000 And $73,000 | Between $36,000 And $70,000 |
| Highest paying City | Saint Cloud, MN | Walnut Creek, CA |
| Highest paying state | New Mexico | New Mexico |
| Best paying company | Citi | Fidelity National Financial |
| Best paying industry | Finance | Finance |
There are a few differences between a branch lending officer and an escrow officer in terms of educational background:
| Branch Lending Officer | Escrow Officer | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 47% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between branch lending officers' and escrow officers' demographics:
| Branch Lending Officer | Escrow Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 14.9% Female, 85.1% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 8.8% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.2% White, 64.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |