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The differences between mortgage assistants 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 mortgage assistant and a mortgage specialist. Additionally, a mortgage specialist has an average salary of $38,757, 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 mortgage specialist are customer service, residential mortgage loans, and origination.
| Mortgage Assistant | Mortgage Specialist | |
| Yearly salary | $33,961 | $38,757 |
| Hourly rate | $16.33 | $18.63 |
| Growth rate | -3% | -3% |
| Number of jobs | 5,147 | 26,471 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 55% |
| 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.
Mortgage specialists are professionals who work with lending institutions to identify the best lending product for their clients in exchange for taking the title of the debtors' properties. These specialists must process mortgage loan applications by reviewing their paperwork to ensure accuracy and completeness before submitting for approval. They should monitor accounts during the bankruptcy proceedings to ensure that the rights of their clients are protected. Mortgage specialists are also required to guide associates regarding procedural guidelines from FNMA, FHLMC, and MHA.
Mortgage assistants and mortgage specialists have different pay scales, as shown below.
| Mortgage Assistant | Mortgage Specialist | |
| Average salary | $33,961 | $38,757 |
| Salary range | Between $26,000 And $43,000 | Between $29,000 And $51,000 |
| Highest paying City | Rockville, MD | Oakland, CA |
| Highest paying state | West Virginia | Washington |
| Best paying company | DFCU Financial | Citi |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage assistant and a mortgage specialist in terms of educational background:
| Mortgage Assistant | Mortgage Specialist | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage assistants' and mortgage specialists' demographics:
| Mortgage Assistant | Mortgage Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 39.3% Female, 60.7% |
| 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, 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% |