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The differences between mortgage service specialists and service specialists 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 service specialist takes usually requires 6-12 months. Additionally, a service specialist has an average salary of $44,150, which is higher than the $34,920 average annual salary of a mortgage service specialist.
The top three skills for a mortgage service specialist include mortgage loans, customer service and escrow analysis. The most important skills for a service specialist are patients, social work, and criminal justice.
| Mortgage Service Specialist | Service Specialist | |
| Yearly salary | $34,920 | $44,150 |
| Hourly rate | $16.79 | $21.23 |
| Growth rate | -3% | -4% |
| Number of jobs | 22,478 | 207,020 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 53% |
| Average age | 42 | 40 |
| Years of experience | 4 | 12 |
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 service specialist is responsible for assisting customers with their inquiries and concerns about the services offered by the organization. Service specialists' duties include responding to customers' requests, updating customers of promotional offers and new services, escalating high-level concerns to the appropriate department, and keeping accurate records of clients' issues and resolutions. Service specialists are also in charge of preparing customer surveys to rate their satisfaction and identifying opportunities for service improvement. A service specialist must display excellent customer service and communication skills to address clients' concerns efficiently and accurately.
Mortgage service specialists and service specialists have different pay scales, as shown below.
| Mortgage Service Specialist | Service Specialist | |
| Average salary | $34,920 | $44,150 |
| Salary range | Between $27,000 And $43,000 | Between $27,000 And $71,000 |
| Highest paying City | Simi Valley, CA | Boston, MA |
| Highest paying state | California | Massachusetts |
| Best paying company | Citi | Ropes & Gray |
| Best paying industry | Finance | Technology |
There are a few differences between a mortgage service specialist and a service specialist in terms of educational background:
| Mortgage Service Specialist | Service Specialist | |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between mortgage service specialists' and service specialists' demographics:
| Mortgage Service Specialist | Service Specialist | |
| Average age | 42 | 40 |
| Gender ratio | Male, 35.1% Female, 64.9% | Male, 40.1% Female, 59.9% |
| 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, 11.2% Unknown, 5.4% Hispanic or Latino, 20.9% Asian, 7.5% White, 54.2% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 7% | 7% |