Mortgage clerk vs mortgage specialist

The differences between mortgage clerks and mortgage 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 mortgage specialist. Additionally, a mortgage specialist has an average salary of $38,757, 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 specialist are customer service, residential mortgage loans, and origination.

Mortgage clerk vs mortgage specialist overview

	Mortgage Clerk	Mortgage Specialist
Yearly salary	$31,722	$38,757
Hourly rate	$15.25	$18.63
Growth rate	-3%	-3%
Number of jobs	69,111	26,471
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 55%
Average age	42	42
Years of experience	4	4

Mortgage clerk vs mortgage specialist salary

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

	Mortgage Clerk	Mortgage Specialist
Average salary	$31,722	$38,757
Salary range	Between $25,000 And $40,000	Between $29,000 And $51,000
Highest paying City	Highlands Ranch, CO	Oakland, CA
Highest paying state	Maryland	Washington
Best paying company	Kelly Services	Citi
Best paying industry	Finance	Finance

Differences between mortgage clerk and mortgage specialist education

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

	Mortgage Clerk	Mortgage 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

Mortgage clerk vs mortgage specialist demographics

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

	Mortgage Clerk	Mortgage Specialist
Average age	42	42
Gender ratio	Male, 25.5% Female, 74.5%	Male, 39.3% Female, 60.7%
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, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between mortgage clerk and mortgage specialist 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 specialist example responsibilities.

Manage internal team SharePoint and document repository.
Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Work due diligence and process loans per FHLMC guidelines on conventional, USDA, FHA/VA and CHFA/DAP loans.
Advise clients with mortgage needs by providing information regarding traditional and government programs, including USVA, FHA and VA loans.
Review HUD-1's to confirm fees and charges with initial GFE and RESPA compliance, order wire and provide funding approval.
Maintain a working knowledge of FDCPA and RESPA guidelines.

Mortgage clerk vs mortgage specialist 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 specialist skills

Customer Service, 22%
Residential Mortgage Loans, 6%
Origination, 6%
FHA, 5%
Va, 5%
Loan Applications, 4%