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Job outlook for loan documentation specialists in the United States
Loan documentation specialist job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected loan documentation specialist job growth rate is -3% from 2018-2028.
About -38,500 new jobs for loan documentation specialists are projected over the next decade.
Loan documentation specialist salaries have increased 7% for loan documentation specialists in the last 5 years.
There are over 41,006 loan documentation specialists currently employed in the United States.
There are 11,768 active loan documentation specialist job openings in the US.
The average loan documentation specialist salary is $35,946.
Are loan documentation specialist jobs in demand?
Loan documentation specialist job and salary trends over time
Loan documentation specialist jobs over time
Loan documentation specialist job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 41,006 | 0.01% |
| 2020 | 35,075 | 0.01% |
| 2019 | 35,837 | 0.01% |
| 2018 | 38,258 | 0.01% |
| 2017 | 39,085 | 0.01% |
Average loan documentation specialist salary over time
Loan documentation specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $35,946 | $17.28 | +1.8% |
| 2025 | $35,312 | $16.98 | +1.9% |
| 2024 | $34,660 | $16.66 | +2.1% |
| 2023 | $33,939 | $16.32 | +1.1% |
| 2022 | $33,565 | $16.14 | +2.4% |
Loan documentation specialist jobs by state
Most common states for loan documentation specialists
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 88 | 13% |
| 2 | Delaware | 961,939 | 117 | 12% |
| 3 | Wyoming | 579,315 | 62 | 11% |
| 4 | Alaska | 739,795 | 73 | 10% |
| 5 | Iowa | 3,145,711 | 294 | 9% |
| 6 | North Dakota | 755,393 | 67 | 9% |
| 7 | Arizona | 7,016,270 | 576 | 8% |
| 8 | Utah | 3,101,833 | 233 | 8% |
| 9 | Rhode Island | 1,059,639 | 81 | 8% |
| 10 | Montana | 1,050,493 | 80 | 8% |
| 11 | South Dakota | 869,666 | 68 | 8% |
| 12 | Vermont | 623,657 | 51 | 8% |
| 13 | Virginia | 8,470,020 | 563 | 7% |
| 14 | Minnesota | 5,576,606 | 417 | 7% |
| 15 | Colorado | 5,607,154 | 410 | 7% |
| 16 | Nebraska | 1,920,076 | 130 | 7% |
| 17 | Washington | 7,405,743 | 413 | 6% |
| 18 | Oregon | 4,142,776 | 245 | 6% |
| 19 | Arkansas | 3,004,279 | 179 | 6% |
| 20 | Hawaii | 1,427,538 | 82 | 6% |
Most common cities for loan documentation specialists
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Evansville | 1 | 1% | $33,337 |
| 2 | Salinas | 1 | 1% | $43,791 |
| 3 | San Francisco | 2 | 0% | $43,731 |
| 4 | Charlotte | 1 | 0% | $35,926 |
| 5 | Los Angeles | 1 | 0% | $42,895 |
| 6 | Sacramento | 1 | 0% | $42,985 |
| 7 | Wichita | 1 | 0% | $35,976 |
Loan Documentation Specialist job outlook: Expert opinions
Our panel of loan documentation specialist experts
University of Kansas
Rowan University
Binghamton University, SUNY
The Ohio State University at Lima
North Carolina Central University
American Public University System
Forsyth County, Georgia
What experience really stands out on Loan Documentation Specialist resumes?
Cari Ann Kreienhop: This is a tricky question because organizations can be focused on very different things in a given hiring search. I think what should be important to applicants in crafting their application materials is that they highlight their experience and achievements and highlight these attributes within the context of the organization's mission and strategic plan. The resume is the blueprint of how an applicant can fit into and contribute to an organization's growth; if the applicant doesn't take the time to match their resume experience to the job posting, hiring managers aren't going to take the extra time to read between the lines.
Dr. Kate Seltzer Ph.D.
Assistant ProfessorRowan University
Department of Language, Literacy and Sociocultural education
How would you rate the starting salaries for Loan Documentation Specialists, as well as the prospects for salary advancement?
Dr. Kate Seltzer Ph.D.: Educators are not paid nearly enough. However, working in a state with strong teachers' unions helps to ensure a starting salary that recent graduates can live off of and growth opportunities, albeit modest, over their careers.
Matthew McConn
Associate Professor of English Education, Department ChairBinghamton University, SUNY
Department of Teaching, Learning and Educational Leadership
How would you rate the starting salaries for Loan Documentation Specialists, as well as the prospects for salary advancement?
Matthew McConn: Here, in the state of New York, I think the salaries are competitive, depending on where you live.
Are there any particularly good places in the United States for Loan Documentation Specialists to find work opportunities?
Leah Herner-Patnode: Usually, urban areas of bigger cities and southern states, such as North Carolina, have many openings. Maine, Florida, California, Hawaii, Washington, and Texas are the most open positions.
Elisha Blankson
Program Director NCCU, Assistant ProfessorNorth Carolina Central University
Communication Disorders Department
What type of skills will young Loan Documentation Specialists need?
Elisha Blankson: Graduates will need a skill set about the field in which they received training and additional skills useful to the job market. For example, with the changing demographics in the United States, extra skills in information technology and foreign languages will be a plus when entering the job market.
Dr. Elizabeth Keavney Ph.D.
Associate ProfessorAmerican Public University System
Public Administration Department
What type of skills will young Loan Documentation Specialists need?
Dr. Elizabeth Keavney Ph.D.: The ability to examine all sides of an issue, to include long-term consequences and short-term consequences and unintended consequences and intended outcomes is vital. A focus on goals and objectives, instead of depending on an emotional response, will help lead to the best solutions. Public servants should be adaptable and able to work with people from various cultures. They need to have an understanding of how to work with and motivate individuals and groups. Those who can stay engaged and exercise good judgment will fare best in fluid and changing times.
How do you envision technology impacting Loan Documentation Specialists in the next 5 years?
Dr. Elizabeth Keavney Ph.D.: COVID-19 has increased the number of people who are working at home. This means a solid basic knowledge of telecommuting, and the ability to work unsupervised will be necessary. The ability to use remote security protocols, the cloud, and various software platforms will be required.
Are there any particularly good places in the United States for Loan Documentation Specialists to find work opportunities?
Donna Kukarola: This one, not so sure of, the southeast continues to see options as well as mid-western states.
Will there be an enduring impact of the coronavirus pandemic on Loan Documentation Specialists?
Donna Kukarola: The procurement field is an opportunity; each day will have its own set of challenges and opportunities. Obtaining the right item/service at the right time, at the right price, is not all that procurement does. They are strategic members, sourcing, timing, keeping up with trends, laws, best practices, and advising that the resource desired is already available!
This year, entering the workforce will be different for many interviews to be held electronically - even, perhaps, teleworking when they get the job. Training is a bit more of a challenge then, and it can be hard to get a real feel of the "attitude." Keeping an open mind and being flexible is a must; during this pandemic, we have all had to learn how to do our jobs differently and navigate our careers.