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The differences between mortgage service specialists and 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 specialist takes usually requires 1-2 years. Additionally, a specialist has an average salary of $58,013, 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 specialist are patients, customer service, and work ethic.
| Mortgage Service Specialist | Specialist | |
| Yearly salary | $34,920 | $58,013 |
| Hourly rate | $16.79 | $27.89 |
| Growth rate | -3% | 10% |
| Number of jobs | 22,478 | 358,433 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 49% |
| Average age | 42 | 42 |
| Years of experience | 4 | 2 |
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.
Specialists are employees who are responsible for specific tasks or activities in the department they are assigned to. The actions or tasks they work on are related to their educational background or work experiences. They are usually highly skilled in specializations related to the work they are assigned to. Specialists are also highly trained on the competencies that are required of their specialty. As such, they are focused on the skills and competencies that are needed to enhance their experience in their specific field further.
Mortgage service specialists and specialists have different pay scales, as shown below.
| Mortgage Service Specialist | Specialist | |
| Average salary | $34,920 | $58,013 |
| Salary range | Between $27,000 And $43,000 | Between $32,000 And $104,000 |
| Highest paying City | Simi Valley, CA | Jersey City, NJ |
| Highest paying state | California | New Jersey |
| Best paying company | Citi | The Citadel |
| Best paying industry | Finance | - |
There are a few differences between a mortgage service specialist and a specialist in terms of educational background:
| Mortgage Service Specialist | Specialist | |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 49% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between mortgage service specialists' and specialists' demographics:
| Mortgage Service Specialist | Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 35.1% Female, 64.9% | Male, 47.5% Female, 52.5% |
| 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, 11.4% Unknown, 5.4% Hispanic or Latino, 16.4% Asian, 10.5% White, 55.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 11% |