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The differences between mortgage service specialists and mortgage 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 service specialist, becoming a mortgage originator takes usually requires 4-6 years. Additionally, a mortgage service specialist has an average salary of $34,920, which is higher than the $31,380 average annual salary of a mortgage originator.
The top three skills for a mortgage service specialist include mortgage loans, customer service and escrow analysis. The most important skills for a mortgage originator are customer service, origination, and bank products.
| Mortgage Service Specialist | Mortgage Originator | |
| Yearly salary | $34,920 | $31,380 |
| Hourly rate | $16.79 | $15.09 |
| Growth rate | -3% | 4% |
| Number of jobs | 22,478 | 11,164 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 66% |
| Average age | 42 | 45 |
| Years of experience | 4 | 6 |
A Mortgage Service Specialist is an expert in mortgage administrative aspects. They review and verify loan application information, file borrower information, and process paperwork with the lending bank. They also authorize and recommend personal and commercial loans for approval. Math skills are necessary for this job for accuracy in calculating both the principal and interest amounts. They should also develop skills in handling transactions, foreclosing loans, communication, attention to detail, and customer service.
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.
Mortgage service specialists and mortgage originators have different pay scales, as shown below.
| Mortgage Service Specialist | Mortgage Originator | |
| Average salary | $34,920 | $31,380 |
| Salary range | Between $27,000 And $43,000 | Between $16,000 And $57,000 |
| Highest paying City | Simi Valley, CA | - |
| Highest paying state | California | - |
| Best paying company | Citi | - |
| Best paying industry | Finance | - |
There are a few differences between a mortgage service specialist and a mortgage originator in terms of educational background:
| Mortgage Service Specialist | Mortgage Originator | |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage service specialists' and mortgage originators' demographics:
| Mortgage Service Specialist | Mortgage Originator | |
| Average age | 42 | 45 |
| Gender ratio | Male, 35.1% Female, 64.9% | Male, 56.2% Female, 43.8% |
| Race ratio | Black or African American, 13.0% Unknown, 4.2% Hispanic or Latino, 17.8% Asian, 6.5% White, 58.1% American Indian and Alaska Native, 0.4% | 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% |
| LGBT Percentage | 7% | 8% |