Credit administrator vs foreclosure specialist

The differences between credit administrators and foreclosure specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a credit administrator has an average salary of $59,271, which is higher than the $41,088 average annual salary of a foreclosure specialist.

The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a foreclosure specialist are foreclosure process, insurer, and loss mitigation.

Credit administrator vs foreclosure specialist overview

	Credit Administrator	Foreclosure Specialist
Yearly salary	$59,271	$41,088
Hourly rate	$28.50	$19.75
Growth rate	-8%	-3%
Number of jobs	55,726	8,166
Job satisfaction	2	-
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 50%
Average age	39	43
Years of experience	2	-

What does a credit administrator do?

A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.

What does a foreclosure specialist do?

A foreclosure specialist is a real estate professional that manages foreclosure processes. Serving in this role means that you will have responsibilities such as ensuring that aspects related to foreclosure meet all government regulations from the federal level to the state level and that deadlines are met and duly communicated to all parties involved. You may have to work with mortgage holders that run the risk of default, in which case you will be tasked with renegotiating loan agreement changes.

Credit administrator vs foreclosure specialist salary

Credit administrators and foreclosure specialists have different pay scales, as shown below.

	Credit Administrator	Foreclosure Specialist
Average salary	$59,271	$41,088
Salary range	Between $33,000 And $106,000	Between $28,000 And $58,000
Highest paying City	New York, NY	-
Highest paying state	New York	-
Best paying company	BNY Mellon	-
Best paying industry	-	-

Differences between credit administrator and foreclosure specialist education

There are a few differences between a credit administrator and a foreclosure specialist in terms of educational background:

	Credit Administrator	Foreclosure Specialist
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 50%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Credit administrator vs foreclosure specialist demographics

Here are the differences between credit administrators' and foreclosure specialists' demographics:

	Credit Administrator	Foreclosure Specialist
Average age	39	43
Gender ratio	Male, 28.4% Female, 71.6%	Male, 32.2% Female, 67.8%
Race ratio	Black or African American, 8.1% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 9.4% White, 69.5% American Indian and Alaska Native, 0.3%	Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3%
LGBT Percentage	11%	4%

Differences between credit administrator and foreclosure specialist duties and responsibilities

Credit administrator example responsibilities.

Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
Utilize computer software including QuickBooks to maintain account activity and ensure accuracy; reconcile inaccuracies between invoices and accounts receivable payments.
Utilize computer software including QuickBooks to maintain account activity and ensure accuracy; reconcile inaccuracies between invoices and accounts receivable payments.

Foreclosure specialist example responsibilities.

Manage a SharePoint site to store all materials.
Manage property inspection process through network of accredit REO inspectors.
Manage both conforming and non-conforming loans according to FNMA guidelines to maximize recovery.
Work closely with assign eviction and foreclosure attorneys towards a successful lockout.
Communicate with attorneys in reference to their claims submit to FHLMC.
Update files in AS400 as well as LPS to reflect sales, mediation depositions and hearings.

Credit administrator vs foreclosure specialist skills

Common credit administrator skills

Financial Statements, 6%
Credit Card Payments, 6%
Real Estate, 5%
Customer Service, 5%
Loan Portfolio, 5%
Credit Policy, 4%

Common foreclosure specialist skills

Foreclosure Process, 9%
Insurer, 6%
Loss Mitigation, 5%
Litigation, 5%
Real Estate, 5%
MSP, 5%

Credit Administrator vs. similar jobs

Credit Administrator related careers

Credit Administrator related jobs

What similar roles do

Zippia Careers
Business and Financial Industry
Credit Administrator
Credit Administrator vs Foreclosure Specialist

Updated January 8, 2025

Browse business and financial jobs