Mortgage clerk vs mortgage banker

The differences between mortgage clerks and mortgage bankers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a mortgage clerk, becoming a mortgage banker takes usually requires 4-6 years. Additionally, a mortgage clerk has an average salary of $31,722, which is higher than the $27,331 average annual salary of a mortgage banker.

The top three skills for a mortgage clerk include data entry, outbound calls and real estate. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.

Mortgage clerk vs mortgage banker overview

	Mortgage Clerk	Mortgage Banker
Yearly salary	$31,722	$27,331
Hourly rate	$15.25	$13.14
Growth rate	-3%	4%
Number of jobs	69,111	24,297
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 72%
Average age	42	45
Years of experience	4	6

Mortgage clerk vs mortgage banker salary

Mortgage clerks and mortgage bankers have different pay scales, as shown below.

	Mortgage Clerk	Mortgage Banker
Average salary	$31,722	$27,331
Salary range	Between $25,000 And $40,000	Between $9,000 And $78,000
Highest paying City	Highlands Ranch, CO	-
Highest paying state	Maryland	-
Best paying company	Kelly Services	-
Best paying industry	Finance	-

Differences between mortgage clerk and mortgage banker education

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

	Mortgage Clerk	Mortgage Banker
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 72%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Mortgage clerk vs mortgage banker demographics

Here are the differences between mortgage clerks' and mortgage bankers' demographics:

	Mortgage Clerk	Mortgage Banker
Average age	42	45
Gender ratio	Male, 25.5% Female, 74.5%	Male, 71.7% Female, 28.3%
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, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	8%

Differences between mortgage clerk and mortgage banker 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.

Mortgage banker example responsibilities.

Coach new Jr. HMC's, lead team Jr. meetings and activities.
Establish residential and commercial lending relationships, telephone loan origination of conventional and non-conventional mortgage products to include VA/FHA options.
Register with NMLS to sell mortgage products
Initiate the stabilization of client relationships and leverage cross-selling and promotional opportunities.
Gain valuable knowledge about USDA loans
Specialize in 203K and FNMA HomePath.

Mortgage clerk vs mortgage banker skills

Common mortgage clerk skills

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

Common mortgage banker skills

Customer Service, 24%
NMLS, 6%
Federal Regulations, 5%
Bank Products, 5%
Loan Programs, 5%
Origination, 4%