Mortgage collector vs debt collector

The differences between mortgage collectors and debt collectors 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 debt collector. Additionally, a mortgage collector has an average salary of $36,748, which is higher than the $33,865 average annual salary of a debt collector.

The top three skills for a mortgage collector include customer service, payment arrangements and loss mitigation. The most important skills for a debt collector are customer service, outbound calls, and payment arrangements.

Mortgage collector vs debt collector overview

	Mortgage Collector	Debt Collector
Yearly salary	$36,748	$33,865
Hourly rate	$17.67	$16.28
Growth rate	-8%	-8%
Number of jobs	6,137	23,385
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 38%	High School Diploma, 34%
Average age	46	46
Years of experience	12	12

Mortgage collector vs debt collector salary

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

	Mortgage Collector	Debt Collector
Average salary	$36,748	$33,865
Salary range	Between $31,000 And $42,000	Between $26,000 And $43,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	California
Best paying company	-	Mayor Ethan Berkowitz
Best paying industry	-	Construction

Differences between mortgage collector and debt collector education

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

	Mortgage Collector	Debt Collector
Most common degree	Bachelor's Degree, 38%	High School Diploma, 34%
Most common major	Business	Business
Most common college	-	-

Mortgage collector vs debt collector demographics

Here are the differences between mortgage collectors' and debt collectors' demographics:

	Mortgage Collector	Debt Collector
Average age	46	46
Gender ratio	Male, 38.3% Female, 61.7%	Male, 30.7% Female, 69.3%
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, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% White, 59.9% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between mortgage collector and debt collector 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.

Debt collector example responsibilities.

Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
Work with FHA, obama programs at the time.
Educate customers on ways to get medical assistance such as Medicaid, Medicare etc.
Prevent foreclosure by putting people on repayment plans, submitting requests for modifications, or deed in lieu.
File Medicaid, Medicare and commercial claims consisting of PPO discounts, nurse practitioner discounts, humanitarian discounts, etc.
Maintain security and confidentiality of company and client information, following FDCPA regulations.

Mortgage collector vs debt collector skills

Common mortgage collector skills

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

Common debt collector skills

Customer Service, 9%
Outbound Calls, 9%
Payment Arrangements, 8%
Delinquent Accounts, 8%
Credit Card Payments, 6%
FDCPA, 5%