Mortgage collector vs collections representative

The differences between mortgage collectors and collections representatives can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a mortgage collector and a collections representative. Additionally, a mortgage collector has an average salary of $36,748, which is higher than the $34,015 average annual salary of a collections representative.

The top three skills for a mortgage collector include customer service, payment arrangements and loss mitigation. The most important skills for a collections representative are payment arrangements, customer service, and delinquent accounts.

Mortgage collector vs collections representative overview

	Mortgage Collector	Collections Representative
Yearly salary	$36,748	$34,015
Hourly rate	$17.67	$16.35
Growth rate	-8%	-8%
Number of jobs	6,137	85,275
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 38%	High School Diploma, 33%
Average age	46	46
Years of experience	12	12

Mortgage collector vs collections representative salary

Mortgage collectors and collections representatives have different pay scales, as shown below.

	Mortgage Collector	Collections Representative
Average salary	$36,748	$34,015
Salary range	Between $31,000 And $42,000	Between $26,000 And $42,000
Highest paying City	-	San Ramon, CA
Highest paying state	-	California
Best paying company	-	University of California, Berkeley
Best paying industry	-	Finance

Differences between mortgage collector and collections representative education

There are a few differences between a mortgage collector and a collections representative in terms of educational background:

	Mortgage Collector	Collections Representative
Most common degree	Bachelor's Degree, 38%	High School Diploma, 33%
Most common major	Business	Business
Most common college	-	-

Mortgage collector vs collections representative demographics

Here are the differences between mortgage collectors' and collections representatives' demographics:

	Mortgage Collector	Collections Representative
Average age	46	46
Gender ratio	Male, 38.3% Female, 61.7%	Male, 30.6% Female, 69.4%
Race ratio	Black or African American, 12.6% Unknown, 4.1% Hispanic or Latino, 22.5% Asian, 3.7% White, 56.5% American Indian and Alaska Native, 0.5%	Black or African American, 12.2% Unknown, 3.9% Hispanic or Latino, 18.9% Asian, 3.4% White, 61.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between mortgage collector and collections representative duties and responsibilities

Mortgage collector example responsibilities.

Manage re-billings for third party accounts including: commercial carriers, manage care, PPO, POS and HMO organizations.
Follow rules and regulations of the FDCPA to ensure all transactions are done within the proper guidelines.
Answer any billing questions or issues regarding the account using knowledge of the FDCPA laws and light skip tracing.
Develop effective partnerships with non-profit organizations and community developments to improve origination of affordable housing loans for first time home buyers.
Prepare financial paperwork and set up ACH and credit card for recurring payments.
Resolve mortgage/car/home equities and over draft accounts.

Collections representative example responsibilities.

Protect A/R assets by managing a portfolio of accounts to maximize gainful sales and reduce debt losses.
Maintain effective communication and utilize negotiation skills with internal and external customers to effect collections while maintaining customer good will.
Submit all reconsideration and appeals if need.
Conduct periodic data cleaning of queues balances deny with deny appeals.
Resolve valid or authorize NSF charges due to decline credit cards or ACH transactions.
Collect and count inventories, reconcile purchases and scan UPC's and inputting price information.

Mortgage collector vs collections representative skills

Common mortgage collector skills

Customer Service, 17%
Payment Arrangements, 15%
Loss Mitigation, 8%
Foreclosure Process, 8%
FDCPA, 6%
Loan Modifications, 4%

Common collections representative skills

Payment Arrangements, 14%
Customer Service, 13%
Delinquent Accounts, 9%
Past Due Accounts, 6%
Customer Accounts, 4%
Debt Repayment, 4%

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Mortgage Collector
Mortgage Collector vs Collections Representative

Updated January 8, 2025

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