Post job

Loan doc specialist vs specialist

The differences between loan doc specialists and specialists can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan doc specialist, becoming a specialist takes usually requires 1-2 years. Additionally, a specialist has an average salary of $58,013, which is higher than the $38,480 average annual salary of a loan doc specialist.

The top three skills for a loan doc specialist include customer service, organization and origination. The most important skills for a specialist are patients, customer service, and work ethic.

Loan doc specialist vs specialist overview

Loan DOC SpecialistSpecialist
Yearly salary$38,480$58,013
Hourly rate$18.50$27.89
Growth rate-3%10%
Number of jobs31,243358,433
Job satisfaction--
Most common degreeBachelor's Degree, 47%Bachelor's Degree, 49%
Average age4242
Years of experience42

What does a loan doc specialist do?

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.

What does a specialist do?

Specialists are employees who are responsible for specific tasks or activities in the department they are assigned to. The actions or tasks they work on are related to their educational background or work experiences. They are usually highly skilled in specializations related to the work they are assigned to. Specialists are also highly trained on the competencies that are required of their specialty. As such, they are focused on the skills and competencies that are needed to enhance their experience in their specific field further.

Loan doc specialist vs specialist salary

Loan doc specialists and specialists have different pay scales, as shown below.

Loan DOC SpecialistSpecialist
Average salary$38,480$58,013
Salary rangeBetween $25,000 And $58,000Between $32,000 And $104,000
Highest paying CityJersey City, NJJersey City, NJ
Highest paying stateWest VirginiaNew Jersey
Best paying companyValley Children'sThe Citadel
Best paying industryFinance-

Differences between loan doc specialist and specialist education

There are a few differences between a loan doc specialist and a specialist in terms of educational background:

Loan DOC SpecialistSpecialist
Most common degreeBachelor's Degree, 47%Bachelor's Degree, 49%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Loan doc specialist vs specialist demographics

Here are the differences between loan doc specialists' and specialists' demographics:

Loan DOC SpecialistSpecialist
Average age4242
Gender ratioMale, 29.0% Female, 71.0%Male, 47.5% Female, 52.5%
Race ratioBlack 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, 11.4% Unknown, 5.4% Hispanic or Latino, 16.4% Asian, 10.5% White, 55.9% American Indian and Alaska Native, 0.4%
LGBT Percentage7%11%

Differences between loan doc specialist and specialist duties and responsibilities

Loan doc specialist example responsibilities.

  • Manage a pipeline of FHA and conforming conventional mortgage loans for refinance and purchase through closing.
  • Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
  • Pull LDP/GSA list, FHA CAIVR numbers, VA certificate of eligibility, VA case numbers and VA appraisals.
  • Schedule loan closing and review final HUD-1 to verify fees are appropriate and within guidelines.
  • Review final HUD-1, payment plan, calculations and closing documents for accuracy, prepare package for funding to review.
  • Make sound business decisions base on credit risk policy and procedures in accordance with TILA, ECOA, and RESPA guidelines.
  • Show more

Specialist example responsibilities.

  • Create, manage, and assist users with SharePoint sites.
  • Manage an on-site IRB and company good clinical practice (GCP) inspection.
  • Manage SharePoint sites by creating, editing, and customizing company sites, libraries and security.
  • Manage the building of accounts, assigning of static IP's, and scheduling of business class installations.
  • Convert servers from UNIX to Linux, all hardware diagnostics and repair including printers/plotters/desktops etc.
  • Follow safety procedures such as maintenance of all equipment (Telxon scanners, terminals and ladders).
  • Show more

Loan doc specialist vs specialist skills

Common loan doc specialist skills
  • Customer Service, 10%
  • Organization, 7%
  • Origination, 6%
  • Loan Types, 5%
  • Title Commitments, 5%
  • FHA, 5%
Common specialist skills
  • Patients, 15%
  • Customer Service, 11%
  • Work Ethic, 5%
  • Patient Care, 4%
  • Exceptional Client, 4%
  • Troubleshoot, 4%

Browse office and administrative jobs