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The differences between escrow officers and loan officers assistant can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an escrow officer and a loan officer assistant. Additionally, an escrow officer has an average salary of $50,270, which is higher than the $45,681 average annual salary of a loan officer assistant.
The top three skills for an escrow officer include customer service, HOA and title insurance. The most important skills for a loan officer assistant are customer service, origination, and loan process.
| Escrow Officer | Loan Officer Assistant | |
| Yearly salary | $50,270 | $45,681 |
| Hourly rate | $24.17 | $21.96 |
| Growth rate | 4% | 4% |
| Number of jobs | 62,077 | 65,094 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 53% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
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.
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
Escrow officers and loan officers assistant have different pay scales, as shown below.
| Escrow Officer | Loan Officer Assistant | |
| Average salary | $50,270 | $45,681 |
| Salary range | Between $36,000 And $70,000 | Between $28,000 And $72,000 |
| Highest paying City | Walnut Creek, CA | New York, NY |
| Highest paying state | New Mexico | New York |
| Best paying company | Fidelity National Financial | Stifel Financial |
| Best paying industry | Finance | Finance |
There are a few differences between an escrow officer and a loan officer assistant in terms of educational background:
| Escrow Officer | Loan Officer Assistant | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | SUNY at Binghamton |
Here are the differences between escrow officers' and loan officers assistant' demographics:
| Escrow Officer | Loan Officer Assistant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 14.9% Female, 85.1% | Male, 28.8% Female, 71.2% |
| Race ratio | 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% | Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |