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Mortgage clerk vs loan services representative

The differences between mortgage clerks 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 clerk and a loan services representative. Additionally, a loan services representative has an average salary of $38,603, 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 services representative are customer service, loan payments, and outbound calls.

Mortgage clerk vs loan services representative overview

Mortgage ClerkLoan Services Representative
Yearly salary$31,722$38,603
Hourly rate$15.25$18.56
Growth rate-3%-3%
Number of jobs69,11185,475
Job satisfaction--
Most common degreeBachelor's Degree, 40%Bachelor's Degree, 47%
Average age4242
Years of experience44

Mortgage clerk vs loan services representative salary

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

Mortgage ClerkLoan Services Representative
Average salary$31,722$38,603
Salary rangeBetween $25,000 And $40,000Between $15,000 And $98,000
Highest paying CityHighlands Ranch, COBaltimore, MD
Highest paying stateMarylandNew York
Best paying companyKelly ServicesJersey Shore State Bank
Best paying industryFinanceFinance

Differences between mortgage clerk and loan services representative education

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

Mortgage ClerkLoan Services Representative
Most common degreeBachelor's Degree, 40%Bachelor's Degree, 47%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Mortgage clerk vs loan services representative demographics

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

Mortgage ClerkLoan Services Representative
Average age4242
Gender ratioMale, 25.5% Female, 74.5%Male, 26.8% Female, 73.2%
Race ratioBlack 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, 11.7% Unknown, 4.4% Hispanic or Latino, 17.0% Asian, 7.1% White, 59.4% American Indian and Alaska Native, 0.4%
LGBT Percentage7%7%

Differences between mortgage clerk and loan services representative 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 services representative example responsibilities.

  • Manage customer relations with internal personnel, group administrators, brokers and members as related to Medicare insurance.
  • Track, compile, and send HUD and VA binders off to respective government agency.
  • Approve final numbers on HUD closing contract, turn in final sign contract to lender for funding.
  • Provide research support functions to management and sales representatives on check copies, ACH maintenance and speed-pay income.
  • Complete address changes, respond to emails, opt out requests, return mail, ACH inquiries and enrollment.
  • Provide internal and external customers with require foreclosure documents while meeting require deadlines.
  • Show more

Mortgage clerk vs loan services representative 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 services representative skills
  • Customer Service, 24%
  • Loan Payments, 19%
  • Outbound Calls, 4%
  • Escrow Accounts, 4%
  • Mortgage Loans, 3%
  • ACH, 2%

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