Delinquency counselor vs loan counselor

The differences between delinquency counselors and loan counselors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a delinquency counselor, becoming a loan counselor takes usually requires 1-2 years. Additionally, a loan counselor has an average salary of $49,002, which is higher than the $45,996 average annual salary of a delinquency counselor.

The top three skills for a delinquency counselor include collection systems, collection practices and delinquent accounts. The most important skills for a loan counselor are phone calls, payment arrangements, and federal regulations.

Delinquency counselor vs loan counselor overview

	Delinquency Counselor	Loan Counselor
Yearly salary	$45,996	$49,002
Hourly rate	$22.11	$23.56
Growth rate	-8%	4%
Number of jobs	27,184	35,925
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 49%
Average age	46	45
Years of experience	12	2

Delinquency counselor vs loan counselor salary

Delinquency counselors and loan counselors have different pay scales, as shown below.

	Delinquency Counselor	Loan Counselor
Average salary	$45,996	$49,002
Salary range	Between $34,000 And $62,000	Between $37,000 And $63,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Mortgage Inv. Group
Best paying industry	-	Finance

Differences between delinquency counselor and loan counselor education

There are a few differences between a delinquency counselor and a loan counselor in terms of educational background:

	Delinquency Counselor	Loan Counselor
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 49%
Most common major	Business	Business
Most common college	-	Stanford University

Delinquency counselor vs loan counselor demographics

Here are the differences between delinquency counselors' and loan counselors' demographics:

	Delinquency Counselor	Loan Counselor
Average age	46	45
Gender ratio	Male, 43.3% Female, 56.7%	Male, 37.1% Female, 62.9%
Race ratio	Black or African American, 14.5% Unknown, 4.2% Hispanic or Latino, 16.5% Asian, 3.9% White, 60.3% American Indian and Alaska Native, 0.5%	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between delinquency counselor and loan counselor duties and responsibilities

Delinquency counselor example responsibilities.

Perform in-depth financial work-ups of members determining best-case scenarios and provide alternatives to members to avoid possible foreclosure.
Comply with FDCPA and RFDCPA regulations.
Analyze mortgagors for approval of HAMP or traditional modification.

Loan counselor example responsibilities.

Manage portfolio of GSE assets that are actively pursuing liquidation or retention options to cure default.
Experience in SBA underwriting that has produce SBA loan approval.
Perform account reviews to ensure associates perform logical progressions of collection efforts and maintain FDCPA guidelines.
Provide early delinquency counseling to CalHFA customers who have conventional or FHA type of loans.
Exercise servicing standards put in place by the FHA, VA, USDA and other private labels.
Resolve accounts using effective negotiating tools and appropriate system documentation in accordance with FDCPA and company's guidelines.

Delinquency counselor vs loan counselor skills

Common delinquency counselor skills

Collection Systems, 13%
Collection Practices, 12%
Delinquent Accounts, 10%
Payment Options, 9%
Credit Card Accounts, 9%
Optimal Solutions, 9%

Common loan counselor skills

Phone Calls, 14%
Payment Arrangements, 12%
Federal Regulations, 8%
Outbound Collection Calls, 6%
Inbound Calls, 6%
FDCPA, 4%