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The differences between mortgage originators and foreclosure specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a foreclosure specialist has an average salary of $41,088, which is higher than the $31,380 average annual salary of a mortgage originator.
The top three skills for a mortgage originator include customer service, origination and bank products. The most important skills for a foreclosure specialist are foreclosure process, insurer, and loss mitigation.
| Mortgage Originator | Foreclosure Specialist | |
| Yearly salary | $31,380 | $41,088 |
| Hourly rate | $15.09 | $19.75 |
| Growth rate | 4% | -3% |
| Number of jobs | 11,164 | 8,166 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 50% |
| Average age | 45 | 43 |
| Years of experience | 6 | - |
A Mortgage Originator is someone who will work with a borrower to process and complete a home loan application. They work closely with loan processors and underwriters to collect the required documentation until it is approved. Mortgage Origniators are responsible for guiding clients through the approval stage by assisting them with the paperwork, determining the loan amount, and taking and verifying documentation. They guide borrowers in deciding which mortgage type is right for them.
A foreclosure specialist is a real estate professional that manages foreclosure processes. Serving in this role means that you will have responsibilities such as ensuring that aspects related to foreclosure meet all government regulations from the federal level to the state level and that deadlines are met and duly communicated to all parties involved. You may have to work with mortgage holders that run the risk of default, in which case you will be tasked with renegotiating loan agreement changes.
Mortgage originators and foreclosure specialists have different pay scales, as shown below.
| Mortgage Originator | Foreclosure Specialist | |
| Average salary | $31,380 | $41,088 |
| Salary range | Between $16,000 And $57,000 | Between $28,000 And $58,000 |
| Highest paying City | - | - |
| Highest paying state | - | - |
| Best paying company | - | - |
| Best paying industry | - | - |
There are a few differences between a mortgage originator and a foreclosure specialist in terms of educational background:
| Mortgage Originator | Foreclosure Specialist | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage originators' and foreclosure specialists' demographics:
| Mortgage Originator | Foreclosure Specialist | |
| Average age | 45 | 43 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 10.0% Unknown, 4.7% Hispanic or Latino, 15.2% Asian, 6.1% White, 63.5% American Indian and Alaska Native, 0.5% | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 4% |