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The differences between junior processors and mortgage 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 junior processor and a mortgage specialist. Additionally, a mortgage specialist has an average salary of $38,757, 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 mortgage specialist are customer service, residential mortgage loans, and origination.
| Junior Processor | Mortgage Specialist | |
| Yearly salary | $33,371 | $38,757 |
| Hourly rate | $16.04 | $18.63 |
| Growth rate | -3% | -3% |
| Number of jobs | 17,036 | 26,471 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 55% |
| 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.
Mortgage specialists are professionals who work with lending institutions to identify the best lending product for their clients in exchange for taking the title of the debtors' properties. These specialists must process mortgage loan applications by reviewing their paperwork to ensure accuracy and completeness before submitting for approval. They should monitor accounts during the bankruptcy proceedings to ensure that the rights of their clients are protected. Mortgage specialists are also required to guide associates regarding procedural guidelines from FNMA, FHLMC, and MHA.
Junior processors and mortgage specialists have different pay scales, as shown below.
| Junior Processor | Mortgage Specialist | |
| Average salary | $33,371 | $38,757 |
| Salary range | Between $26,000 And $41,000 | Between $29,000 And $51,000 |
| Highest paying City | - | Oakland, CA |
| Highest paying state | - | Washington |
| Best paying company | - | Citi |
| Best paying industry | - | Finance |
There are a few differences between a junior processor and a mortgage specialist in terms of educational background:
| Junior Processor | Mortgage Specialist | |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior processors' and mortgage specialists' demographics:
| Junior Processor | Mortgage Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 19.1% Female, 80.9% | Male, 39.3% Female, 60.7% |
| 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, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |