Mortgage clerk vs loan coordinator

The differences between mortgage clerks and loan coordinators 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 coordinator. Additionally, a loan coordinator has an average salary of $39,836, 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 coordinator are customer service, work ethic, and FHA.

Mortgage clerk vs loan coordinator overview

	Mortgage Clerk	Loan Coordinator
Yearly salary	$31,722	$39,836
Hourly rate	$15.25	$19.15
Growth rate	-3%	-3%
Number of jobs	69,111	24,765
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 56%
Average age	42	42
Years of experience	4	4

Mortgage clerk vs loan coordinator salary

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

	Mortgage Clerk	Loan Coordinator
Average salary	$31,722	$39,836
Salary range	Between $25,000 And $40,000	Between $30,000 And $51,000
Highest paying City	Highlands Ranch, CO	Raleigh, NC
Highest paying state	Maryland	West Virginia
Best paying company	Kelly Services	JPMorgan Chase & Co.
Best paying industry	Finance	Professional

Differences between mortgage clerk and loan coordinator education

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

	Mortgage Clerk	Loan Coordinator
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 56%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Mortgage clerk vs loan coordinator demographics

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

	Mortgage Clerk	Loan Coordinator
Average age	42	42
Gender ratio	Male, 25.5% Female, 74.5%	Male, 25.3% Female, 74.7%
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, 11.9% Unknown, 4.3% Hispanic or Latino, 17.7% Asian, 7.5% White, 58.2% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between mortgage clerk and loan coordinator 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 coordinator example responsibilities.

Manage individual pipeline using the LPS system.
Assist in preparation of all disclosures following RESPA requirements of the time on multiple files.
Fund loans after closing and perform quality assurance measures in order to be in compliance with RESPA guidelines.
Review, analyze, and process complex individual consumer requests using conventional and FHA lending requirements.
Demonstrate technical expertise and project management skills necessary for preparing complex residential loan applications for conventional or FHA underwriter approval.
Process routine to moderately complex conventional or VA mortgage loans according to product guidelines through validation of credit and collateral documentation.

Mortgage clerk vs loan coordinator 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 coordinator skills

Customer Service, 26%
Work Ethic, 12%
FHA, 10%
Coordinators, 6%
Origination, 6%
Financial Statements, 4%