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The differences between mortgage clerks and loan servicing 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 clerk and a loan servicing specialist. Additionally, a loan servicing specialist has an average salary of $65,799, 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 servicing specialist are loan modifications, customer service, and foreclosure process.
| Mortgage Clerk | Loan Servicing Specialist | |
| Yearly salary | $31,722 | $65,799 |
| Hourly rate | $15.25 | $31.63 |
| Growth rate | -3% | -3% |
| Number of jobs | 69,111 | 31,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 40% | Bachelor's Degree, 55% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
Mortgage clerks and loan servicing specialists have different pay scales, as shown below.
| Mortgage Clerk | Loan Servicing Specialist | |
| Average salary | $31,722 | $65,799 |
| Salary range | Between $25,000 And $40,000 | Between $28,000 And $153,000 |
| Highest paying City | Highlands Ranch, CO | Charleston, SC |
| Highest paying state | Maryland | Maryland |
| Best paying company | Kelly Services | Glacier Ban |
| Best paying industry | Finance | Finance |
There are a few differences between a mortgage clerk and a loan servicing specialist in terms of educational background:
| Mortgage Clerk | Loan Servicing Specialist | |
| Most common degree | Bachelor's Degree, 40% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage clerks' and loan servicing specialists' demographics:
| Mortgage Clerk | Loan Servicing Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 25.5% Female, 74.5% | Male, 32.2% Female, 67.8% |
| 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, 11.8% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 8.2% White, 60.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |