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The differences between junior processors and closing coordinators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a junior processor and a closing coordinator. Additionally, a closing coordinator has an average salary of $39,066, which is higher than the $33,371 average annual salary of a junior processor.
The top three skills for a junior processor include mortgage loans, loan applications and appraisal orders. The most important skills for a closing coordinator are customer service, escrow, and HOA.
| Junior Processor | Closing Coordinator | |
| Yearly salary | $33,371 | $39,066 |
| Hourly rate | $16.04 | $18.78 |
| Growth rate | -3% | -3% |
| Number of jobs | 17,036 | 19,203 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 50% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A junior processor is responsible for assessing a loan applicant's information to determine whether they are eligible to obtain a loan. This includes examining the assets submitted by the applicant, considering whether the loan is viable, and determining if the applicant is capable of paying. They also explain the terms and conditions set by the lending company. After assessment, they forward the loan applicant's details to the loan committee for appropriate action, which could be approval or disapproval.
In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement. Moreover, a closing coordinator must maintain an active communication line with staff, answering their inquiries, and assisting them as needed.
Junior processors and closing coordinators have different pay scales, as shown below.
| Junior Processor | Closing Coordinator | |
| Average salary | $33,371 | $39,066 |
| Salary range | Between $26,000 And $41,000 | Between $29,000 And $52,000 |
| Highest paying City | - | Kirkland, WA |
| Highest paying state | - | Washington |
| Best paying company | - | HarbourVest |
| Best paying industry | - | Finance |
There are a few differences between a junior processor and a closing coordinator in terms of educational background:
| Junior Processor | Closing Coordinator | |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior processors' and closing coordinators' demographics:
| Junior Processor | Closing Coordinator | |
| Average age | 42 | 42 |
| Gender ratio | Male, 19.1% Female, 80.9% | Male, 20.8% Female, 79.2% |
| Race ratio | Black or African American, 12.4% Unknown, 4.2% Hispanic or Latino, 18.5% Asian, 6.6% White, 57.9% American Indian and Alaska Native, 0.4% | Black or African American, 12.7% Unknown, 4.7% Hispanic or Latino, 15.8% Asian, 6.3% White, 59.9% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |