How to hire a mortgage loan specialist

How to hire a mortgage loan specialist, step by step

Here's a step-by-step mortgage loan specialist hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a mortgage loan specialist job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new mortgage loan specialist
• Step 8: Go through the hiring process checklist

What does a mortgage loan specialist do?

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1. Identify your hiring needs

   First, determine the employments status of the mortgage loan specialist you need to hire. Certain mortgage loan specialist roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect mortgage loan specialist also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   Here's a comparison of mortgage loan specialist salaries for various roles:

   Type of Mortgage Loan Specialist	Description	Hourly rate
   Mortgage Loan Specialist	Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.	$12-29
   Closer	The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions... Show more	$9-19
   Post Closer	Post closers require an associate degree or certification in addition to 1-3 years of related experience. Skills in customer support, document review, loan processing, quality assurance processing, and loan software are also necessary for this career... Show more	$13-23

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • FHA
   • Escrow Accounts
   • Underwriting Approval
   • Loan Process
   • Credit Reports
   • Loan Modifications
   • Loan Packages
   • Fannie MAE
   • USDA
   • Outbound Calls
   • Loan Products
   • Inbound Calls
   • Loss Mitigation

   Check all skills

   Responsibilities:

   • Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
   • Investigate and resolve, borrower complaints, inquiries and disputes in accordance with RESPA establish procedures.
   • Clear post-closing FHA and VA deficiency items to ensure loans meet federal loan guidelines and ensure they are salable.
   • Process FHA and VA loan information, post-closing, ensure that initial payments receive were forward to the proper department.
   • Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.
   • Determine loan DU eligibility and submit files to underwriting department.

   More mortgage loan specialist duties

3. Make a budget

   Including a salary range in your mortgage loan specialist job description is a great way to entice the best and brightest candidates. A mortgage loan specialist salary can vary based on several factors:

   • Location. For example, mortgage loan specialists' average salary in idaho is 50% less than in west virginia.
   • Seniority. Entry-level mortgage loan specialists earn 56% less than senior-level mortgage loan specialists.
   • Certifications. A mortgage loan specialist with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in a mortgage loan specialist's salary.

   Average mortgage loan specialist salary

   $41,186yearly

   $19.80 hourly rate

   ---

   Entry-level mortgage loan specialist salary

   $27,000 yearly salary

   Updated December 15, 2025

   Average mortgage loan specialist salary by state

   Rank	State	Avg. salary	Hourly rate
   1	New York	$62,050	$30
   2	New Jersey	$58,366	$28
   3	California	$57,875	$28
   4	North Carolina	$57,580	$28
   5	Kentucky	$55,725	$27
   6	Texas	$52,760	$25
   7	Rhode Island	$48,555	$23
   8	Pennsylvania	$48,441	$23
   9	Colorado	$45,870	$22
   10	Arizona	$45,032	$22
   11	Tennessee	$43,608	$21
   12	Michigan	$43,019	$21
   13	Iowa	$41,734	$20
   14	Minnesota	$38,775	$19
   15	Puerto Rico	$37,772	$18
   16	Missouri	$36,664	$18

   Average mortgage loan specialist salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	The PNC Financial Services Group	$52,354	$25.17	143
   2	East West Bank	$51,149	$24.59	9
   3	Frost Bank	$49,027	$23.57	4
   4	U.S. Bank	$45,566	$21.91	109
   5	Nefcu	$42,547	$20.46
   6	Bank of the West	$41,425	$19.92
   7	Zions Ban	$41,382	$19.90
   8	Tri Counties Bank	$41,330	$19.87	1
   9	M/I Homes	$39,840	$19.15	25
   10	Popular	$38,613	$18.56	6
   11	Randstad North America, Inc.	$38,096	$18.32	10
   12	Robert Half	$36,895	$17.74	33
   13	Kelly Services	$35,931	$17.27	4
   14	National Bank of Commerce	$35,666	$17.15	14
   15	Habitat for Humanity	$32,244	$15.50	1

4. Writing a mortgage loan specialist job description

   A mortgage loan specialist job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a mortgage loan specialist job description:

   Mortgage loan specialist job description example

   At OneAmerica, we deliver on promises when customers need us most. We believe the best way to serve our customers is to know that every individual, employee, family and business we work with has unique personal and financial goals. We keep our promises, so we can help them achieve their goals and realize their definition of financial success.
   
   * The Commercial Mortgage Loan Closing Specialist collects, reviews, approves and negotiates any required changes to appraisals, engineering reports, environmental reports, and insurance necessary to ensure compliance with negotiated loan documents and corporate policies.
   
   * Since each transaction is unique, the Closing Specialist is required to frequently make judgement calls for items that do not fall within established guidelines/policies. Errors in judgement could result in material financial loss to OneAmerica.
   
   * The Closing Specialist works with other members of the commercial mortgage loan team and OneAmerica's legal team. They also work with external parties including Correspondents, consultants, and borrowers.
   
   * In their role, this individual has the opportunity to develop an understanding of each new commercial mortgage originated by OneAmerica.
   Educational Requirements & Qualifications:
   
   * BS or BA preferred, preferably in finance, accounting or real estate
   * 0-2 years prior analyst or commercial real estate experience is a positive
   * Or any combination of education and experience which would provide an equivalent background
   
   Salary Band: 04B
   
   This selected candidate will be expected to work hybrid in Indianapolis, IN. The candidate will also be expected to physically return to the office in CA, WI, IN or ME as business needs dictate or for team-building and collaboration.
   
   If you are offered and accept this position, please be advised that OneAmerica does not have any offices located in the State of New York and OneAmerica associates are not permitted to work remotely in the State of New York.
   
   Disclaimer: OneAmerica is an equal opportunity employer and strictly prohibits unlawful discrimination based upon an individual's race, color, religion, gender, sexual orientation, gender identity/expression, national origin/ancestry, age, mental/physical disability, medical condition, marital status, veteran status, or any other characteristic protected by law.
   
   For all positions:
   
   Because this position is regulated by the Violent Crime Control and Law Enforcement Act, if an offer is made, applicants must undergo mandated background checks as a condition of employment. Such background checks include criminal history. A conviction is not necessarily an absolute bar to employment. Consistent with applicable regulatory guidelines and law, factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered.
   
   To learn more about our products, services, and the companies of OneAmerica, visit oneamerica.com/companies.

   Copy this example

   

5. Post your job

   There are various strategies that you can use to find the right mortgage loan specialist for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   Post your job online:

   • Post your mortgage loan specialist job on Zippia to find and recruit mortgage loan specialist candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Recruiting mortgage loan specialists requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new mortgage loan specialist

   Once you've found the mortgage loan specialist candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

   After that, you can create an onboarding schedule for a new mortgage loan specialist. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a mortgage loan specialist?