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The differences between home preservation specialists and loan servicing specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a home preservation specialist and a loan servicing specialist. Additionally, a loan servicing specialist has an average salary of $65,799, which is higher than the $41,359 average annual salary of a home preservation specialist.
The top three skills for a home preservation specialist include customer service, lieu and foreclosure process. The most important skills for a loan servicing specialist are loan modifications, customer service, and foreclosure process.
| Home Preservation Specialist | Loan Servicing Specialist | |
| Yearly salary | $41,359 | $65,799 |
| Hourly rate | $19.88 | $31.63 |
| Growth rate | -3% | -3% |
| Number of jobs | 41,730 | 31,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 55% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A home preservation specialist is the go-to for clients who are looking to make inquiries in your firm, which will typically be a financial firm. A home preservation specialist is responsible for communicating with agencies or borrowers regarding any change in the current status of loans and obligations. They also have to answer inquiries from borrowers concerning the status of their loss mitigation review too.
A loan servicing specialist is an individual who reviews, authorizes, and recommends commercial and personal loans for approval. It is the loan officer who meets with their applicants to identify their creditworthiness. Typically, they work at credit unions, commercial banks, mortgage companies, and financial institutions. They ensure operational risk controls, regulatory policies and standards, and compliance. Among the skills necessary for the job include customer service and relations, leadership, analytical skills, and communication skills.
Home preservation specialists and loan servicing specialists have different pay scales, as shown below.
| Home Preservation Specialist | Loan Servicing Specialist | |
| Average salary | $41,359 | $65,799 |
| Salary range | Between $28,000 And $60,000 | Between $28,000 And $153,000 |
| Highest paying City | Albany, NY | Charleston, SC |
| Highest paying state | New York | Maryland |
| Best paying company | JPMorgan Chase & Co. | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a home preservation specialist and a loan servicing specialist in terms of educational background:
| Home Preservation Specialist | Loan Servicing Specialist | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between home preservation specialists' and loan servicing specialists' demographics:
| Home Preservation Specialist | Loan Servicing Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 48.2% Female, 51.8% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 13.3% Unknown, 4.2% Hispanic or Latino, 13.0% Asian, 6.4% White, 62.8% American Indian and Alaska Native, 0.4% | Black or African American, 11.8% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 8.2% White, 60.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |