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Loan servicing specialist salary
Average loan servicing specialist salary
$65,799
Average Loan Servicing Specialist Salary
The average salary for a Loan Servicing Specialist is $65,799 per year. This figure reflects the typical earnings in the industry, but various factors can influence this number significantly. Experience levels play a crucial role—entry-level specialists may earn less, while those with years of experience often see higher salaries.
Salary by Experience Level
Entry-level Loan Servicing Specialists might start around $45,000, while those with over 10 years in the field can earn upwards of $85,000. This disparity highlights the value of gaining experience and additional certifications, which can lead to promotions and increased pay.
Regional Salary Differences
Location also impacts salary potential. States such as California and New York often offer higher salaries due to the cost of living and demand for loan servicing professionals. Conversely, regions with a lower cost of living may offer salaries closer to the national average. Understanding these regional dynamics can guide job seekers in their search for better-paying positions.
Opportunities for Advancement
Career advancement opportunities abound for Loan Servicing Specialists, especially in larger financial institutions. Many professionals transition into roles such as loan officers or financial analysts, which typically offer higher compensation packages. By enhancing skills and seeking out new challenges, specialists can significantly boost their earning potential.
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Where can a Loan Servicing Specialist earn more?
Loan servicing specialist salaries by experience level
Loan servicing specialist salary estimates from across the web
Average loan servicing specialist salary by state
The average loan servicing specialist salary in Maryland, South Carolina, and Georgia are the highest in the U.S. The lowest average loan servicing specialist salary states are Oregon, Washington, and Idaho.
- State view
- County view
Highest paying states for loan servicing specialists
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Delaware | $108,609 | $52.22 |
| 2 | North Carolina | $110,331 | $53.04 |
| 3 | Florida | $105,918 | $50.92 |
| 4 | Alabama | $107,718 | $51.79 |
| 5 | South Carolina | $116,077 | $55.81 |
| 6 | Texas | $105,051 | $50.51 |
| 7 | Tennessee | $107,250 | $51.56 |
| 8 | Georgia | $114,202 | $54.90 |
| 9 | Maryland | $117,091 | $56.29 |
| 10 | Louisiana | $105,142 | $50.55 |
| 11 | Rhode Island | $102,130 | $49.10 |
| 12 | West Virginia | $109,882 | $52.83 |
| 13 | New Jersey | $107,225 | $51.55 |
| 14 | Mississippi | $99,682 | $47.92 |
| 15 | Arkansas | $101,247 | $48.68 |
| 16 | Ohio | $86,604 | $41.64 |
| 17 | Kentucky | $99,538 | $47.85 |
| 18 | New York | $103,389 | $49.71 |
| 19 | Indiana | $85,236 | $40.98 |
| 20 | Virginia | $100,259 | $48.20 |
| 21 | Michigan | $82,046 | $39.45 |
| 22 | Pennsylvania | $89,143 | $42.86 |
| 23 | Arizona | $73,461 | $35.32 |
| 24 | Connecticut | $101,831 | $48.96 |
| 25 | Oklahoma | $90,224 | $43.38 |
| 26 | Massachusetts | $97,810 | $47.02 |
| 27 | Iowa | $66,018 | $31.74 |
| 28 | Missouri | $76,653 | $36.85 |
| 29 | Kansas | $79,886 | $38.41 |
| 30 | Vermont | $65,626 | $31.55 |
| 31 | District of Columbia | $93,730 | $45.06 |
| 32 | New Hampshire | $86,110 | $41.40 |
| 33 | Wisconsin | $79,507 | $38.22 |
| 34 | Colorado | $72,394 | $34.80 |
| 35 | Nevada | $61,717 | $29.67 |
| 36 | Illinois | $73,691 | $35.43 |
| 37 | Nebraska | $62,618 | $30.10 |
| 38 | New Mexico | $76,813 | $36.93 |
| 39 | Wyoming | $50,682 | $24.37 |
| 40 | Utah | $52,355 | $25.17 |
| 41 | Minnesota | $57,288 | $27.54 |
| 42 | South Dakota | $51,383 | $24.70 |
| 43 | North Dakota | $44,657 | $21.47 |
| 44 | California | $75,239 | $36.17 |
| 45 | Alaska | $31,452 | $15.12 |
| 46 | Maine | $62,724 | $30.16 |
| 47 | Hawaii | $33,440 | $16.08 |
| 48 | Montana | $40,459 | $19.45 |
| 49 | Oregon | $42,938 | $20.64 |
| 50 | Idaho | $40,676 | $19.56 |
| 51 | Washington | $42,860 | $20.61 |
Highest paying cities for loan servicing specialists
The highest-paying cities for loan servicing specialists are Charleston, SC, Columbus, GA, and Chattanooga, TN.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Charleston, SC | $188,061 | $90.41 |
| 2 | Columbus, GA | $177,260 | $85.22 |
| 3 | Chattanooga, TN | $174,780 | $84.03 |
| 4 | Wilson, NC | $163,640 | $78.67 |
| 5 | Birmingham, AL | $157,453 | $75.70 |
| 6 | Houston, TX | $151,611 | $72.89 |
| 7 | Nicholasville, KY | $146,510 | $70.44 |
| 8 | Lafayette, LA | $142,647 | $68.58 |
| 9 | Gulfport, MS | $137,309 | $66.01 |
| 10 | New York, NY | $128,210 | $61.64 |
| 11 | Boston, MA | $111,578 | $53.64 |
| 12 | Columbus, OH | $109,294 | $52.55 |
| 13 | Springfield, MO | $98,058 | $47.14 |
| 14 | Wilkes-Barre, PA | $93,490 | $44.95 |
| 15 | Springfield, IL | $89,544 | $43.05 |
| 16 | El Monte, CA | $82,533 | $39.68 |
| 17 | Colorado Springs, CO | $81,345 | $39.11 |
| 18 | Chandler, AZ | $76,791 | $36.92 |
| 19 | Des Moines, IA | $69,044 | $33.19 |
| 20 | Minneapolis, MN | $57,256 | $27.53 |
Loan Servicing Specialists are the most in-demand in these five cities:
Loan servicing specialist salary details
A loan servicing specialist's salary ranges from $28,000 a year at the 10th percentile to $153,000 at the 90th percentile.
What is a loan servicing specialist's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $153,000 | $12,750 | $74 |
| 75th Percentile | $102,000 | $8,500 | $49 |
| Average | $65,799 | $5,483 | $32 |
| 25th Percentile | $42,000 | $3,500 | $20 |
| 10th Percentile | $28,000 | $2,333 | $13 |
Highest paying loan servicing specialist jobs
The highest paying types of loan servicing specialists are specialist, service specialist, and mortgage loan processor.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Processor | $32,098 | $2,675 | $15.43 | 11,448 |
| Document Processor | $32,730 | $2,727 | $15.74 | 8,761 |
| Mortgage Loan Processor | $43,594 | $3,633 | $20.96 | 16,276 |
| Transaction Coordinator | $41,792 | $3,483 | $20.09 | 16,804 |
| Loan Processor | $38,122 | $3,177 | $18.33 | 16,228 |
| Closing Coordinator | $39,066 | $3,256 | $18.78 | 19,203 |
Top companies hiring loan servicing specialists now:
Which companies pay loan servicing specialists the most?
Loan servicing specialist salaries at Glacier Ban and Morgan Stanley are the highest-paying according to our most recent salary estimates. In addition, the average loan servicing specialist salary at companies like Busey and Sandy Spring Bank are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Glacier Ban | $161,088 | $77.45 |
| 2 | Morgan Stanley | $155,117 | $74.58 |
| 3 | Busey | $145,389 | $69.90 |
| 4 | Sandy Spring Bank | $139,643 | $67.14 |
| 5 | JPMorgan Chase & Co. | $118,735 | $57.08 |
| 6 | Fifth Third Bank | $115,121 | $55.35 |
| 7 | OpTech | $112,546 | $54.11 |
| 8 | Deutsche Bank | $99,747 | $47.96 |
| 9 | Farm Credit System | $88,680 | $42.63 |
| 10 | First Republic Bank | $88,130 | $42.37 |
| 11 | Salem Five | $86,870 | $41.76 |
| 12 | Prosperity Bank | $85,947 | $41.32 |
| 13 | J.P. Morgan | $85,338 | $41.03 |
| 14 | Huntington National Bank | $83,428 | $40.11 |
| 15 | Newburyport Five Cents Savings Bank | $80,308 | $38.61 |
| 16 | Cathay Bank | $79,564 | $38.25 |
| 17 | Baker Boyer Bank | $79,274 | $38.11 |
| 18 | United Community Bank | $78,696 | $37.83 |
| 19 | Wintrust Financial | $67,851 | $32.62 |
| 20 | East West Bank | $63,591 | $30.57 |
Wage gap by gender, race and education
Loan servicing specialist salary trends
The average loan servicing specialist salary has risen by $10,418 over the last ten years. In 2014, the average loan servicing specialist earned $55,381 annually, but today, they earn $65,799 a year. That works out to a 7% change in pay for loan servicing specialists over the last decade.
Compare loan servicing specialist salaries for cities or states with the national average over time.
Average loan servicing specialist salary over time
Compare loan servicing specialist salaries for individual cities or states with the national average.
Loan servicing specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $65,800 | $31.63 | +1.8% |
| 2024 | $64,600 | $31.08 | +1.8% |
| 2023 | $63,400 | $30.50 | +2.1% |
| 2022 | $62,100 | $29.87 | +1.1% |
| 2021 | $61,400 | $29.54 | +2.4% |
Recently added loan servicing specialist salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Lake City Bank | Commercial Loan Servicing Specialist (Disbursing) | Warsaw, IN | 06/29/2025 | $40,070 |
| Bank Forward | Loan Servicing Specialist | Fargo, ND | 06/28/2025 | $54,262 |
| Bank Forward | Loan Servicing Specialist | Bemidji, MN | 06/28/2025 | $54,262 |
| First American Financial | Default Loan Servicing Specialist-Foreclosure | Fort Mill, SC | 06/27/2025 | $43,243 |
| Bow and Arrow Holdings, LLC | Loan Servicing Specialist | Houston, TX | 06/26/2025 | $50,000 |
| Regions Bank | Loan Servicing Training Specialist | Hattiesburg, MS | 06/25/2025 | $32,301 |
| Arrow Financial Corporation | Loan Services Specialist-Glens Falls or Latham | Glens Falls, NY | 06/25/2025 | $39,653 |
| Wintrust Financial Corp | Loan Servicing Specialist | Rosemont, IL | 06/20/2025 | $42,000 |
| Wintrust Mortgage, a Division of BBT | Loan Servicing Specialist | Rosemont, IL | 06/20/2025 | $42,000 |
| Usalliance Financial | Loan Servicing Specialist II | Chelmsford, MA | 06/19/2025 | $52,676 |
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