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The differences between closing coordinators and loan services representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a closing coordinator and a loan services representative. Additionally, a closing coordinator has an average salary of $39,066, which is higher than the $38,603 average annual salary of a loan services representative.
The top three skills for a closing coordinator include customer service, escrow and HOA. The most important skills for a loan services representative are customer service, loan payments, and outbound calls.
| Closing Coordinator | Loan Services Representative | |
| Yearly salary | $39,066 | $38,603 |
| Hourly rate | $18.78 | $18.56 |
| Growth rate | -3% | -3% |
| Number of jobs | 19,203 | 85,475 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 47% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement. Moreover, a closing coordinator must maintain an active communication line with staff, answering their inquiries, and assisting them as needed.
A loan service representative is responsible for communicating and interacting with clients and serves as a back-up or reliever in a company. They are the first person that the client must go through if they want to apply for a loan. Loan representatives monitor and ensure that all data and information is properly documented using a loan processing system. Also, they are the ones who inspect and verify if a company is complying with the transaction rules as well as the loan procedures and regulations.
Closing coordinators and loan services representatives have different pay scales, as shown below.
| Closing Coordinator | Loan Services Representative | |
| Average salary | $39,066 | $38,603 |
| Salary range | Between $29,000 And $52,000 | Between $15,000 And $98,000 |
| Highest paying City | Kirkland, WA | Baltimore, MD |
| Highest paying state | Washington | New York |
| Best paying company | HarbourVest | Jersey Shore State Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a closing coordinator and a loan services representative in terms of educational background:
| Closing Coordinator | Loan Services Representative | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 47% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between closing coordinators' and loan services representatives' demographics:
| Closing Coordinator | Loan Services Representative | |
| Average age | 42 | 42 |
| Gender ratio | Male, 20.8% Female, 79.2% | Male, 26.8% Female, 73.2% |
| Race ratio | 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% | Black or African American, 11.7% Unknown, 4.4% Hispanic or Latino, 17.0% Asian, 7.1% White, 59.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |