Loan examiner vs closer

The differences between loan examiners and closers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a loan examiner and a closer. Additionally, a loan examiner has an average salary of $61,785, which is higher than the $29,291 average annual salary of a closer.

The top three skills for a loan examiner include credit risk, credit quality and internal controls. The most important skills for a closer are customer service, cleanliness, and punctuality.

Loan examiner vs closer overview

	Loan Examiner	Closer
Yearly salary	$61,785	$29,291
Hourly rate	$29.70	$14.08
Growth rate	4%	4%
Number of jobs	10,805	7,560
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 79%	Bachelor's Degree, 35%
Average age	45	45
Years of experience	6	6

Loan examiner vs closer salary

Loan examiners and closers have different pay scales, as shown below.

	Loan Examiner	Closer
Average salary	$61,785	$29,291
Salary range	Between $44,000 And $86,000	Between $20,000 And $40,000
Highest paying City	-	Greece, NY
Highest paying state	-	Hawaii
Best paying company	-	GPAC
Best paying industry	-	-

Differences between loan examiner and closer education

There are a few differences between a loan examiner and a closer in terms of educational background:

	Loan Examiner	Closer
Most common degree	Bachelor's Degree, 79%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan examiner vs closer demographics

Here are the differences between loan examiners' and closers' demographics:

	Loan Examiner	Closer
Average age	45	45
Gender ratio	Male, 59.0% Female, 41.0%	Male, 45.0% Female, 55.0%
Race ratio	Black or African American, 10.4% Unknown, 4.7% Hispanic or Latino, 14.4% Asian, 5.7% White, 64.3% American Indian and Alaska Native, 0.5%	Black or African American, 9.4% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 6.1% White, 63.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between loan examiner and closer duties and responsibilities

Loan examiner example responsibilities.

Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
Blood collection by venipuncture and capillary technique ensure all specimens are collect accurately, on time and according to establish procedures.
Determine document validity base on HUD requirements.

Closer example responsibilities.

Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Process conventional, FHA, VA and USDA loans, clearing conditions before submission.
Clear property conditions for insurance and title on all FHA, VA and USDA loans.
Submit information to mortgage insurance carriers, FHA, VA, FHLMC, and FNMA for workout alternatives to foreclosure.
Coordinate with foreclosure and eviction and litigation teams to ensure properties are in transferable condition prior to closing.
Prepare high volume of loan closing packages under a variety of loan programs including conventional, FHA and VA.

Loan examiner vs closer skills

Common loan examiner skills

Credit Risk, 27%
Credit Quality, 23%
Internal Controls, 18%
Consumer Complaints, 14%
Problem Loans, 9%
Compliance Examinations, 9%

Common closer skills

Customer Service, 42%
Cleanliness, 31%
Punctuality, 8%
Dependability, 4%
Food Orders, 4%
Work Ethic, 1%