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The differences between loan coordinators and post closers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a loan coordinator and a post closer. Additionally, a loan coordinator has an average salary of $39,836, which is higher than the $38,045 average annual salary of a post closer.
The top three skills for a loan coordinator include customer service, work ethic and FHA. The most important skills for a post closer are loan packages, post-closer, and FHA.
| Loan Coordinator | Post Closer | |
| Yearly salary | $39,836 | $38,045 |
| Hourly rate | $19.15 | $18.29 |
| Growth rate | -3% | -3% |
| Number of jobs | 24,765 | 10,407 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 41% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A Loan Coordinator is responsible for processing loan applications and determining the eligibility of applicants for loan options. Loan Coordinators perform administrative and clerical duties under the supervision of a loan supervisor. They file reports, monitor transactions, and review the applicants' credit scores. A loan coordinator must have excellent communication and organizational skills, especially responding to the applicants' inquiries and concerns, resolving complaints, and directing them to the loan personnel for any updates on their applications.
Post closers require an associate degree or certification in addition to 1-3 years of related experience. Skills in customer support, document review, loan processing, quality assurance processing, and loan software are also necessary for this career. Port closers assist with the mortgage loan closing process by reviewing loan documents for compliance, completeness, and accuracy. They also find missing information, prepare files and provide internal and external customer support.
Loan coordinators and post closers have different pay scales, as shown below.
| Loan Coordinator | Post Closer | |
| Average salary | $39,836 | $38,045 |
| Salary range | Between $30,000 And $51,000 | Between $29,000 And $48,000 |
| Highest paying City | Raleigh, NC | San Ramon, CA |
| Highest paying state | West Virginia | California |
| Best paying company | JPMorgan Chase & Co. | Amplify Credit Union |
| Best paying industry | Professional | Insurance |
There are a few differences between a loan coordinator and a post closer in terms of educational background:
| Loan Coordinator | Post Closer | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 41% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan coordinators' and post closers' demographics:
| Loan Coordinator | Post Closer | |
| Average age | 42 | 42 |
| Gender ratio | Male, 25.3% Female, 74.7% | Male, 21.6% Female, 78.4% |
| Race ratio | Black or African American, 11.9% Unknown, 4.3% Hispanic or Latino, 17.7% Asian, 7.5% White, 58.2% American Indian and Alaska Native, 0.4% | Black or African American, 13.4% Unknown, 4.2% Hispanic or Latino, 16.7% Asian, 6.6% White, 58.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |