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The differences between loan doc specialists and loan assistants 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 doc specialist and a loan assistant. Additionally, a loan doc specialist has an average salary of $38,480, which is higher than the $36,962 average annual salary of a loan assistant.
The top three skills for a loan doc specialist include customer service, organization and origination. The most important skills for a loan assistant are customer service, loan applications, and mortgage loans.
| Loan DOC Specialist | Loan Assistant | |
| Yearly salary | $38,480 | $36,962 |
| Hourly rate | $18.50 | $17.77 |
| Growth rate | -3% | -3% |
| Number of jobs | 31,243 | 8,923 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 51% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A loan document specialist is a person who gathers loan documents from the client to help them with the approval of their mortgage, credit, and lease application for a business, home, and school needs. They are responsible for combining the data that is needed and then reviewing and compiling it according to loan requirements and guidelines. A loan document specialist also communicates with the client if there are any problems and additional documents that are needed. Furthermore, the specialist is a person who knows how to manage loans and has organizational and management skills.
Loan assistants act as support primarily to loan officers in preparing, reviewing, and verifying account documentation pertinent to loans. Also, ensuring the completeness of the loan files and that all collateral has been properly secured. In addition, loan assistants update collateral values on commercial and residential real estate loans as assigned by senior management. They stay within the guidelines established by bank policy and maintain the highest level of confidentiality with all information obtained.
Loan doc specialists and loan assistants have different pay scales, as shown below.
| Loan DOC Specialist | Loan Assistant | |
| Average salary | $38,480 | $36,962 |
| Salary range | Between $25,000 And $58,000 | Between $28,000 And $47,000 |
| Highest paying City | Jersey City, NJ | Olympia, WA |
| Highest paying state | West Virginia | Washington |
| Best paying company | Valley Children's | University of California, Berkeley |
| Best paying industry | Finance | Finance |
There are a few differences between a loan doc specialist and a loan assistant in terms of educational background:
| Loan DOC Specialist | Loan Assistant | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan doc specialists' and loan assistants' demographics:
| Loan DOC Specialist | Loan Assistant | |
| Average age | 42 | 42 |
| Gender ratio | Male, 29.0% Female, 71.0% | Male, 18.2% Female, 81.8% |
| Race ratio | Black or African American, 11.2% Unknown, 4.5% Hispanic or Latino, 14.5% Asian, 8.6% White, 60.8% American Indian and Alaska Native, 0.4% | Black or African American, 12.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 7.4% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |