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The differences between foreclosure specialists and loan administrators can be seen in a few details. Each job has different responsibilities and duties. Additionally, a loan administrator has an average salary of $42,859, which is higher than the $41,088 average annual salary of a foreclosure specialist.
The top three skills for a foreclosure specialist include foreclosure process, insurer and loss mitigation. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Foreclosure Specialist | Loan Administrator | |
| Yearly salary | $41,088 | $42,859 |
| Hourly rate | $19.75 | $20.61 |
| Growth rate | -3% | 4% |
| Number of jobs | 8,166 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 58% |
| Average age | 43 | 45 |
| Years of experience | - | 6 |
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.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Foreclosure specialists and loan administrators have different pay scales, as shown below.
| Foreclosure Specialist | Loan Administrator | |
| Average salary | $41,088 | $42,859 |
| Salary range | Between $28,000 And $58,000 | Between $31,000 And $59,000 |
| Highest paying City | - | Seattle, WA |
| Highest paying state | - | Hawaii |
| Best paying company | - | BNY Mellon |
| Best paying industry | - | Finance |
There are a few differences between a foreclosure specialist and a loan administrator in terms of educational background:
| Foreclosure Specialist | Loan Administrator | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between foreclosure specialists' and loan administrators' demographics:
| Foreclosure Specialist | Loan Administrator | |
| Average age | 43 | 45 |
| Gender ratio | Male, 32.2% Female, 67.8% | Male, 23.2% Female, 76.8% |
| Race ratio | 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% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 4% | 8% |