For many people, it's a long road to get the house of their dreams. They need to save up for a deposit, find a seller that considers them a good fit, and get a mortgage on terms that they can repay. Mortgage service specialists are crucial workers in the mortgage industry and help many people afford their dream homes.
Mortgage service specialists handle all the administrative tasks that come with a mortgage. This can include double-checking a borrower's information, calculating interest, and processing paperwork. They also work with clients after a loan is issued, for example, by handling the repayment process or communicating options in case of a foreclosure.
Many mortgage service specialists get their start in entry-level customer service or administrative positions before transitioning to this role. While some shore up their skills with a bachelor's or associate's degree, many mortgage service specialists get by with just a high school diploma. Practical skills, like math and communication skills, are more important than a degree.
There is more than meets the eye when it comes to being a Mortgage Service Specialist. For example, did you know that they make an average of $16.39 an hour? That's $34,096 a year!
Between 2018 and 2028, the career is expected to grow 5% and produce 72,100 job opportunities across the U.S.
There are certain skills that many Mortgage Service Specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Communication skills, Math skills and Organizational skills.
If you're interested in becoming a Mortgage Service Specialist, one of the first things to consider is how much education you need. We've determined that 48.1% of Mortgage Service Specialists have a bachelor's degree. In terms of higher education levels, we found that 4.2% of Mortgage Service Specialists have master's degrees. Even though most Mortgage Service Specialists have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Mortgage Service Specialist. When we researched the most common majors for a Mortgage Service Specialist, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Mortgage Service Specialist resumes include High School Diploma degrees or Diploma degrees.
You may find that experience in other jobs will help you become a Mortgage Service Specialist. In fact, many Mortgage Service Specialist jobs require experience in a role such as Customer Service Representative. Meanwhile, many Mortgage Service Specialists also have previous career experience in roles such as Administrative Assistant or Collector.