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The differences between mortgage processors and post closers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a mortgage processor and a post closer. Additionally, a mortgage processor has an average salary of $40,527, which is higher than the $38,045 average annual salary of a post closer.
The top three skills for a mortgage processor include customer service, FHA and va. The most important skills for a post closer are loan packages, post-closer, and FHA.
| Mortgage Processor | Post Closer | |
| Yearly salary | $40,527 | $38,045 |
| Hourly rate | $19.48 | $18.29 |
| Growth rate | -3% | -3% |
| Number of jobs | 9,057 | 10,407 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 41% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A mortgage processor is responsible for reviewing mortgage loan applications, evaluating applicants' documents, and verifying their eligibility for approval. Mortgage processors consider the applicant's financial statements, credit score, and other possible mortgage options. They also interview loan applicants to confirm the accuracy of submitted documents and keep them updated with the progress and final decisions. A mortgage processor works closely with the underwriting department for loan applications subject for further review. The mortgage processor needs to have a broad knowledge of the banking industry and loan procedures to guide the applicants with their application inquiries and concerns.
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. Port closers assist with the mortgage loan closing process by reviewing loan documents for compliance, completeness, and accuracy. They also find missing information, prepare files and provide internal and external customer support.
Mortgage processors and post closers have different pay scales, as shown below.
| Mortgage Processor | Post Closer | |
| Average salary | $40,527 | $38,045 |
| Salary range | Between $31,000 And $52,000 | Between $29,000 And $48,000 |
| Highest paying City | Phoenix, AZ | San Ramon, CA |
| Highest paying state | Arizona | California |
| Best paying company | CyberCoders | Amplify Credit Union |
| Best paying industry | Professional | Insurance |
There are a few differences between a mortgage processor and a post closer in terms of educational background:
| Mortgage Processor | Post Closer | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 41% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage processors' and post closers' demographics:
| Mortgage Processor | Post Closer | |
| Average age | 42 | 42 |
| Gender ratio | Male, 24.2% Female, 75.8% | Male, 21.6% Female, 78.4% |
| Race ratio | Black or African American, 13.0% Unknown, 4.2% Hispanic or Latino, 14.1% Asian, 6.6% White, 61.6% American Indian and Alaska Native, 0.4% | Black or African American, 13.4% Unknown, 4.2% Hispanic or Latino, 16.7% Asian, 6.6% White, 58.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |