Loan secretary vs mortgage specialist

The differences between loan secretaries and mortgage specialists 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 mortgage specialist. Additionally, a mortgage specialist has an average salary of $38,757, 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 mortgage specialist are customer service, residential mortgage loans, and origination.

Loan secretary vs mortgage specialist overview

	Loan Secretary	Mortgage Specialist
Yearly salary	$35,271	$38,757
Hourly rate	$16.96	$18.63
Growth rate	-3%	-3%
Number of jobs	15,452	26,471
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 37%	Bachelor's Degree, 55%
Average age	42	42
Years of experience	4	4

Loan secretary vs mortgage specialist salary

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

	Loan Secretary	Mortgage Specialist
Average salary	$35,271	$38,757
Salary range	Between $26,000 And $46,000	Between $29,000 And $51,000
Highest paying City	-	Oakland, CA
Highest paying state	-	Washington
Best paying company	-	Citi
Best paying industry	-	Finance

Differences between loan secretary and mortgage specialist education

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

	Loan Secretary	Mortgage Specialist
Most common degree	Bachelor's Degree, 37%	Bachelor's Degree, 55%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan secretary vs mortgage specialist demographics

Here are the differences between loan secretaries' and mortgage specialists' demographics:

	Loan Secretary	Mortgage Specialist
Average age	42	42
Gender ratio	Male, 3.6% Female, 96.4%	Male, 39.3% Female, 60.7%
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, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between loan secretary and mortgage specialist 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.

Mortgage specialist example responsibilities.

Manage internal team SharePoint and document repository.
Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Work due diligence and process loans per FHLMC guidelines on conventional, USDA, FHA/VA and CHFA/DAP loans.
Advise clients with mortgage needs by providing information regarding traditional and government programs, including USVA, FHA and VA loans.
Review HUD-1's to confirm fees and charges with initial GFE and RESPA compliance, order wire and provide funding approval.
Maintain a working knowledge of FDCPA and RESPA guidelines.

Loan secretary vs mortgage specialist 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 mortgage specialist skills

Customer Service, 22%
Residential Mortgage Loans, 6%
Origination, 6%
FHA, 5%
Va, 5%
Loan Applications, 4%