Loan secretary vs loan coordinator

The differences between loan secretaries and loan coordinators 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 secretary and a loan coordinator. Additionally, a loan coordinator has an average salary of $39,836, which is higher than the $35,271 average annual salary of a loan secretary.

The top three skills for a loan secretary include customer service, real estate loans and financial statements. The most important skills for a loan coordinator are customer service, work ethic, and FHA.

Loan secretary vs loan coordinator overview

	Loan Secretary	Loan Coordinator
Yearly salary	$35,271	$39,836
Hourly rate	$16.96	$19.15
Growth rate	-3%	-3%
Number of jobs	15,452	24,765
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 37%	Bachelor's Degree, 56%
Average age	42	42
Years of experience	4	4

Loan secretary vs loan coordinator salary

Loan secretaries and loan coordinators have different pay scales, as shown below.

	Loan Secretary	Loan Coordinator
Average salary	$35,271	$39,836
Salary range	Between $26,000 And $46,000	Between $30,000 And $51,000
Highest paying City	-	Raleigh, NC
Highest paying state	-	West Virginia
Best paying company	-	JPMorgan Chase & Co.
Best paying industry	-	Professional

Differences between loan secretary and loan coordinator education

There are a few differences between a loan secretary and a loan coordinator in terms of educational background:

	Loan Secretary	Loan Coordinator
Most common degree	Bachelor's Degree, 37%	Bachelor's Degree, 56%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan secretary vs loan coordinator demographics

Here are the differences between loan secretaries' and loan coordinators' demographics:

	Loan Secretary	Loan Coordinator
Average age	42	42
Gender ratio	Male, 3.6% Female, 96.4%	Male, 25.3% Female, 74.7%
Race ratio	Black or African American, 12.7% Unknown, 4.9% Hispanic or Latino, 13.8% Asian, 6.3% White, 61.8% American Indian and Alaska Native, 0.6%	Black or African American, 11.9% Unknown, 4.3% Hispanic or Latino, 17.7% Asian, 7.5% White, 58.2% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between loan secretary and loan coordinator duties and responsibilities

Loan secretary example responsibilities.

Prepare and file UCC's and title applications.
Process auto title work, life insurance, UCC filing and recording.
Review loan files, facilitate and verify loss mitigation application request, determine eligibility for clients requesting foreclosure financial assistance.
Determine loan DU eligibility and submit files to underwriting department.

Loan coordinator example responsibilities.

Manage individual pipeline using the LPS system.
Assist in preparation of all disclosures following RESPA requirements of the time on multiple files.
Fund loans after closing and perform quality assurance measures in order to be in compliance with RESPA guidelines.
Review, analyze, and process complex individual consumer requests using conventional and FHA lending requirements.
Demonstrate technical expertise and project management skills necessary for preparing complex residential loan applications for conventional or FHA underwriter approval.
Process routine to moderately complex conventional or VA mortgage loans according to product guidelines through validation of credit and collateral documentation.

Loan secretary vs loan coordinator skills

Common loan secretary skills

Customer Service, 28%
Real Estate Loans, 8%
Financial Statements, 8%
Commercial Loans, 6%
Credit Reports, 6%
Computer System, 4%

Common loan coordinator skills

Customer Service, 26%
Work Ethic, 12%
FHA, 10%
Coordinators, 6%
Origination, 6%
Financial Statements, 4%