Mortgage clerk vs loan closer

The differences between mortgage clerks and loan closers 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 clerk and a loan closer. Additionally, a loan closer has an average salary of $39,093, which is higher than the $31,722 average annual salary of a mortgage clerk.

The top three skills for a mortgage clerk include data entry, outbound calls and real estate. The most important skills for a loan closer are customer service, excellent organizational, and TRID.

Mortgage clerk vs loan closer overview

	Mortgage Clerk	Loan Closer
Yearly salary	$31,722	$39,093
Hourly rate	$15.25	$18.79
Growth rate	-3%	-3%
Number of jobs	69,111	11,431
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 51%
Average age	42	42
Years of experience	4	4

Mortgage clerk vs loan closer salary

Mortgage clerks and loan closers have different pay scales, as shown below.

	Mortgage Clerk	Loan Closer
Average salary	$31,722	$39,093
Salary range	Between $25,000 And $40,000	Between $30,000 And $50,000
Highest paying City	Highlands Ranch, CO	Bellevue, WA
Highest paying state	Maryland	Washington
Best paying company	Kelly Services	Tata Group
Best paying industry	Finance	Finance

Differences between mortgage clerk and loan closer education

There are a few differences between a mortgage clerk and a loan closer in terms of educational background:

	Mortgage Clerk	Loan Closer
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Mortgage clerk vs loan closer demographics

Here are the differences between mortgage clerks' and loan closers' demographics:

	Mortgage Clerk	Loan Closer
Average age	42	42
Gender ratio	Male, 25.5% Female, 74.5%	Male, 22.6% Female, 77.4%
Race ratio	Black or African American, 12.9% Unknown, 4.6% Hispanic or Latino, 13.9% Asian, 7.3% White, 60.8% American Indian and Alaska Native, 0.5%	Black or African American, 12.9% Unknown, 4.3% Hispanic or Latino, 14.8% Asian, 7.0% White, 60.6% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between mortgage clerk and loan closer duties and responsibilities

Mortgage clerk example responsibilities.

Demonstrate strong math skills in managing inmate s accounts and calmly and effectively deescalating outbursts of belligerent inmates.
Insure government loans utilizing VA and FHA website.
Team player with imaging area and completing deliver FNMA, PNC.
Maintain cleanliness of the company warehouse, operate warehouse machinery and organize the warehouse to ensure proper product placement.
Process and underwrite conventional purchase and refinance mortgage transactions primarily under FHLMC guidelines in a centralize regional operations center.

Loan closer example responsibilities.

Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Update files by obtaining annual and interim financial statements, renew insurance policies and UCC amendments, continuations and terminations.
Maintain a working knowledge of government underwriting policies pertaining to multiple programs such as VA, USDA, and FHA financing.
Gain knowledge of requirements establish by the FHA/VA, FNMA, FHLMC and private investors.
Prepare the delivery of mortgage loan documents to facilitate the processing of mortgage loan closings including TRID.
Prepare loan documents for retail mortgages (conventional, VA, FHA), all states in a paperless environment.

Mortgage clerk vs loan closer skills

Common mortgage clerk skills

Data Entry, 68%
Outbound Calls, 9%
Real Estate, 4%
Telephone Calls, 4%
Tax Payments, 2%
Computer System, 2%

Common loan closer skills

Customer Service, 24%
Excellent Organizational, 5%
TRID, 4%
FHA, 4%
Va, 4%
RESPA, 4%