Drawer vs mortgage loan specialist

The differences between drawers and mortgage loan specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a mortgage loan specialist has an average salary of $41,186, which is higher than the $34,511 average annual salary of a drawer.

The top three skills for a drawer include title, escrow and FHA. The most important skills for a mortgage loan specialist are customer service, FHA, and escrow accounts.

Drawer vs mortgage loan specialist overview

	Drawer	Mortgage Loan Specialist
Yearly salary	$34,511	$41,186
Hourly rate	$16.59	$19.80
Growth rate	-5%	-3%
Number of jobs	2,664	33,704
Job satisfaction	-	-
Most common degree	High School Diploma, 37%	Bachelor's Degree, 56%
Average age	43	42
Years of experience	-	4

Drawer vs mortgage loan specialist salary

Drawers and mortgage loan specialists have different pay scales, as shown below.

	Drawer	Mortgage Loan Specialist
Average salary	$34,511	$41,186
Salary range	Between $27,000 And $43,000	Between $27,000 And $62,000
Highest paying City	-	Uniondale, NY
Highest paying state	-	West Virginia
Best paying company	-	The PNC Financial Services Group
Best paying industry	-	Finance

Differences between drawer and mortgage loan specialist education

There are a few differences between a drawer and a mortgage loan specialist in terms of educational background:

	Drawer	Mortgage Loan Specialist
Most common degree	High School Diploma, 37%	Bachelor's Degree, 56%
Most common major	Business	Business
Most common college	-	University of Pennsylvania

Drawer vs mortgage loan specialist demographics

Here are the differences between drawers' and mortgage loan specialists' demographics:

	Drawer	Mortgage Loan Specialist
Average age	43	42
Gender ratio	Male, 36.4% Female, 63.6%	Male, 33.9% Female, 66.1%
Race ratio	Black or African American, 9.7% Unknown, 2.8% Hispanic or Latino, 12.1% Asian, 2.3% White, 72.3% American Indian and Alaska Native, 0.8%	Black or African American, 13.3% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 7.7% White, 59.7% American Indian and Alaska Native, 0.4%
LGBT Percentage	3%	7%

Differences between drawer and mortgage loan specialist duties and responsibilities

Drawer example responsibilities.

Manage individual pipeline using the LPS system.
Audit Hud-1 throughout closing process, ensuring compliance with RESPA and TILA.
Enter closing cost fees from final HUD-1 and compare fees with final GFE ensuring tolerance compliance.
Review HUD-1's for compliance requirements.
Have a good understanding of TRID requirements.
Review GFE and HUD to ensure compliance.

Mortgage loan specialist example responsibilities.

Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Investigate and resolve, borrower complaints, inquiries and disputes in accordance with RESPA establish procedures.
Clear post-closing FHA and VA deficiency items to ensure loans meet federal loan guidelines and ensure they are salable.
Process FHA and VA loan information, post-closing, ensure that initial payments receive were forward to the proper department.
Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.
Determine loan DU eligibility and submit files to underwriting department.

Drawer vs mortgage loan specialist skills

Common drawer skills

Title, 12%
Escrow, 12%
FHA, 9%
TRID, 8%
RESPA, 7%
Regulatory Compliance, 5%

Common mortgage loan specialist skills

Customer Service, 21%
FHA, 8%
Escrow Accounts, 5%
Underwriting Approval, 5%
Loan Process, 4%
Credit Reports, 4%