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The differences between mortgage clerks and mortgage loan processors 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 mortgage loan processor. Additionally, a mortgage loan processor has an average salary of $43,594, 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 mortgage loan processor are customer service, FHA, and va.
| Mortgage Clerk | Mortgage Loan Processor | |
| Yearly salary | $31,722 | $43,594 |
| Hourly rate | $15.25 | $20.96 |
| Growth rate | -3% | -3% |
| Number of jobs | 69,111 | 16,276 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 40% | Bachelor's Degree, 50% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
Mortgage clerks and mortgage loan processors have different pay scales, as shown below.
| Mortgage Clerk | Mortgage Loan Processor | |
| Average salary | $31,722 | $43,594 |
| Salary range | Between $25,000 And $40,000 | Between $33,000 And $57,000 |
| Highest paying City | Highlands Ranch, CO | San Francisco, CA |
| Highest paying state | Maryland | Massachusetts |
| Best paying company | Kelly Services | Amplify Credit Union |
| Best paying industry | Finance | Professional |
There are a few differences between a mortgage clerk and a mortgage loan processor in terms of educational background:
| Mortgage Clerk | Mortgage Loan Processor | |
| Most common degree | Bachelor's Degree, 40% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage clerks' and mortgage loan processors' demographics:
| Mortgage Clerk | Mortgage Loan Processor | |
| Average age | 42 | 42 |
| Gender ratio | Male, 25.5% Female, 74.5% | Male, 21.7% Female, 78.3% |
| 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, 13.3% Unknown, 4.3% Hispanic or Latino, 14.2% Asian, 6.8% White, 61.1% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |