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Escrow representative vs loan services representative

The differences between escrow representatives and loan services representatives can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become an escrow representative, becoming a loan services representative takes usually requires 2-4 years. Additionally, an escrow representative has an average salary of $52,342, which is higher than the $38,603 average annual salary of a loan services representative.

The top three skills for an escrow representative include customer service, property taxes and RESPA. The most important skills for a loan services representative are customer service, loan payments, and outbound calls.

Escrow representative vs loan services representative overview

Escrow RepresentativeLoan Services Representative
Yearly salary$52,342$38,603
Hourly rate$25.16$18.56
Growth rate4%-3%
Number of jobs1,62485,475
Job satisfaction--
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 47%
Average age3942
Years of experience24

Escrow representative vs loan services representative salary

Escrow representatives and loan services representatives have different pay scales, as shown below.

Escrow RepresentativeLoan Services Representative
Average salary$52,342$38,603
Salary rangeBetween $39,000 And $70,000Between $15,000 And $98,000
Highest paying City-Baltimore, MD
Highest paying state-New York
Best paying company-Jersey Shore State Bank
Best paying industry-Finance

Differences between escrow representative and loan services representative education

There are a few differences between an escrow representative and a loan services representative in terms of educational background:

Escrow RepresentativeLoan Services Representative
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 47%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Escrow representative vs loan services representative demographics

Here are the differences between escrow representatives' and loan services representatives' demographics:

Escrow RepresentativeLoan Services Representative
Average age3942
Gender ratioMale, 31.9% Female, 68.1%Male, 26.8% Female, 73.2%
Race ratioBlack or African American, 6.5% Unknown, 2.8% Hispanic or Latino, 10.6% Asian, 10.7% White, 69.1% American Indian and Alaska Native, 0.3%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 Percentage11%7%

Differences between escrow representative and loan services representative duties and responsibilities

Escrow representative example responsibilities.

  • Conduct in-services on managing patients with chemotherapy-induce anemia to nursing staff at inpatient and outpatient facilities, providing treatment algorithms.
  • Train to immediately recognize various commercial and government plans and redirect patients, as necessary, to correct medical facility.
  • Manage escrow department for title insurance company.

Loan services representative example responsibilities.

  • Manage customer relations with internal personnel, group administrators, brokers and members as related to Medicare insurance.
  • Track, compile, and send HUD and VA binders off to respective government agency.
  • Approve final numbers on HUD closing contract, turn in final sign contract to lender for funding.
  • Provide research support functions to management and sales representatives on check copies, ACH maintenance and speed-pay income.
  • Complete address changes, respond to emails, opt out requests, return mail, ACH inquiries and enrollment.
  • Provide internal and external customers with require foreclosure documents while meeting require deadlines.
  • Show more

Escrow representative vs loan services representative skills

Common escrow representative skills
  • Customer Service, 30%
  • Property Taxes, 12%
  • RESPA, 11%
  • Residential Loans, 11%
  • FHA, 10%
  • Account Numbers, 6%
Common loan services representative skills
  • Customer Service, 24%
  • Loan Payments, 19%
  • Outbound Calls, 4%
  • Escrow Accounts, 4%
  • Mortgage Loans, 3%
  • ACH, 2%

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