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The differences between mortgage assistants and loan services representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a mortgage assistant and a loan services representative. Additionally, a loan services representative has an average salary of $38,603, which is higher than the $33,961 average annual salary of a mortgage assistant.
The top three skills for a mortgage assistant include data entry, mortgage loans and loan applications. The most important skills for a loan services representative are customer service, loan payments, and outbound calls.
| Mortgage Assistant | Loan Services Representative | |
| Yearly salary | $33,961 | $38,603 |
| Hourly rate | $16.33 | $18.56 |
| Growth rate | -3% | -3% |
| Number of jobs | 5,147 | 85,475 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 47% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A mortgage assistant, sometimes referred to as a loan officer assistant, works directly with clients and members of the office to meet set organization goals. Their key responsibilities include reviewing loan applications, preparing letters for credit for clients, offering administrative support to supervising loan officers, and providing customer service to clients. They are also required to use computer programs to track loan processing and billing. This role requires customer service experience and knowledge of relevant computer software.
A loan service representative is responsible for communicating and interacting with clients and serves as a back-up or reliever in a company. They are the first person that the client must go through if they want to apply for a loan. Loan representatives monitor and ensure that all data and information is properly documented using a loan processing system. Also, they are the ones who inspect and verify if a company is complying with the transaction rules as well as the loan procedures and regulations.
Mortgage assistants and loan services representatives have different pay scales, as shown below.
| Mortgage Assistant | Loan Services Representative | |
| Average salary | $33,961 | $38,603 |
| Salary range | Between $26,000 And $43,000 | Between $15,000 And $98,000 |
| Highest paying City | Rockville, MD | Baltimore, MD |
| Highest paying state | West Virginia | New York |
| Best paying company | DFCU Financial | Jersey Shore State Bank |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage assistant and a loan services representative in terms of educational background:
| Mortgage Assistant | Loan Services Representative | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 47% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage assistants' and loan services representatives' demographics:
| Mortgage Assistant | Loan Services Representative | |
| Average age | 42 | 42 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 26.8% Female, 73.2% |
| Race ratio | Black or African American, 12.0% Unknown, 4.4% Hispanic or Latino, 13.7% Asian, 7.9% White, 61.5% American Indian and Alaska Native, 0.4% | Black or African American, 11.7% Unknown, 4.4% Hispanic or Latino, 17.0% Asian, 7.1% White, 59.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |