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The differences between mortgage loan specialists and loan originators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a mortgage loan specialist, becoming a loan originator takes usually requires 4-6 years. Additionally, a loan originator has an average salary of $41,291, which is higher than the $41,186 average annual salary of a mortgage loan specialist.
The top three skills for a mortgage loan specialist include customer service, FHA and escrow accounts. The most important skills for a loan originator are customer service, origination, and FHA.
| Mortgage Loan Specialist | Loan Originator | |
| Yearly salary | $41,186 | $41,291 |
| Hourly rate | $19.80 | $19.85 |
| Growth rate | -3% | 4% |
| Number of jobs | 33,704 | 10,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 61% |
| Average age | 42 | 45 |
| Years of experience | 4 | 6 |
Also called a loan officer, a mortgage loan specialist assists clients in finding the appropriate financial aid for homes and other properties. Mortgage loan specialists look for new applicants, secure the right loans, assist with the documentation, and supervise the financing process. They collect and review the financial information of their clients for loan grant eligibility. It is important that they develop skills in financial processes, customer service, time management, and communication.
A Loan Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
Mortgage loan specialists and loan originators have different pay scales, as shown below.
| Mortgage Loan Specialist | Loan Originator | |
| Average salary | $41,186 | $41,291 |
| Salary range | Between $27,000 And $62,000 | Between $28,000 And $60,000 |
| Highest paying City | Uniondale, NY | New York, NY |
| Highest paying state | West Virginia | South Dakota |
| Best paying company | The PNC Financial Services Group | Centennial Bank |
| Best paying industry | Finance | Transportation |
There are a few differences between a mortgage loan specialist and a loan originator in terms of educational background:
| Mortgage Loan Specialist | Loan Originator | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage loan specialists' and loan originators' demographics:
| Mortgage Loan Specialist | Loan Originator | |
| Average age | 42 | 45 |
| Gender ratio | Male, 33.9% Female, 66.1% | Male, 54.0% Female, 46.0% |
| Race ratio | Black or African American, 13.3% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 7.7% White, 59.7% American Indian and Alaska Native, 0.4% | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 8% |