Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between loan originators and foreclosure specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a loan originator has an average salary of $41,291, which is higher than the $41,088 average annual salary of a foreclosure specialist.
The top three skills for a loan originator include customer service, origination and FHA. The most important skills for a foreclosure specialist are foreclosure process, insurer, and loss mitigation.
| Loan Originator | Foreclosure Specialist | |
| Yearly salary | $41,291 | $41,088 |
| Hourly rate | $19.85 | $19.75 |
| Growth rate | 4% | -3% |
| Number of jobs | 10,716 | 8,166 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 50% |
| Average age | 45 | 43 |
| Years of experience | 6 | - |
A Loan Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
A foreclosure specialist is a real estate professional that manages foreclosure processes. Serving in this role means that you will have responsibilities such as ensuring that aspects related to foreclosure meet all government regulations from the federal level to the state level and that deadlines are met and duly communicated to all parties involved. You may have to work with mortgage holders that run the risk of default, in which case you will be tasked with renegotiating loan agreement changes.
Loan originators and foreclosure specialists have different pay scales, as shown below.
| Loan Originator | Foreclosure Specialist | |
| Average salary | $41,291 | $41,088 |
| Salary range | Between $28,000 And $60,000 | Between $28,000 And $58,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | South Dakota | - |
| Best paying company | Centennial Bank | - |
| Best paying industry | Transportation | - |
There are a few differences between a loan originator and a foreclosure specialist in terms of educational background:
| Loan Originator | Foreclosure Specialist | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan originators' and foreclosure specialists' demographics:
| Loan Originator | Foreclosure Specialist | |
| Average age | 45 | 43 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 4% |