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The differences between mortgage specialists and funding specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a funding specialist has an average salary of $43,459, which is higher than the $38,757 average annual salary of a mortgage specialist.
The top three skills for a mortgage specialist include customer service, residential mortgage loans and origination. The most important skills for a funding specialist are data entry, excellent organizational, and ACH.
| Mortgage Specialist | Funding Specialist | |
| Yearly salary | $38,757 | $43,459 |
| Hourly rate | $18.63 | $20.89 |
| Growth rate | -3% | -3% |
| Number of jobs | 26,471 | 47,806 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 61% |
| Average age | 42 | 44 |
| Years of experience | 4 | - |
Mortgage specialists are professionals who work with lending institutions to identify the best lending product for their clients in exchange for taking the title of the debtors' properties. These specialists must process mortgage loan applications by reviewing their paperwork to ensure accuracy and completeness before submitting for approval. They should monitor accounts during the bankruptcy proceedings to ensure that the rights of their clients are protected. Mortgage specialists are also required to guide associates regarding procedural guidelines from FNMA, FHLMC, and MHA.
A Funding Specialist is in charge of facilitating the funding procedures of a company. They mainly function by identifying the funding needs of projects and programs, conducting extensive research and analyses, and developing plans and strategies to secure funding, all while adhering to the company's policies and regulations. Moreover, aside from planning, a funding specialist is also responsible for liaising with internal and external parties, establishing budget guidelines, preparing and processing documents, and resolving issues promptly and efficiently should any arise.
Mortgage specialists and funding specialists have different pay scales, as shown below.
| Mortgage Specialist | Funding Specialist | |
| Average salary | $38,757 | $43,459 |
| Salary range | Between $29,000 And $51,000 | Between $30,000 And $62,000 |
| Highest paying City | Oakland, CA | Urban Honolulu, HI |
| Highest paying state | Washington | Hawaii |
| Best paying company | Citi | Northern Trust |
| Best paying industry | Finance | Finance |
There are a few differences between a mortgage specialist and a funding specialist in terms of educational background:
| Mortgage Specialist | Funding Specialist | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Western Carolina University |
Here are the differences between mortgage specialists' and funding specialists' demographics:
| Mortgage Specialist | Funding Specialist | |
| Average age | 42 | 44 |
| Gender ratio | Male, 39.3% Female, 60.7% | Male, 36.9% Female, 63.1% |
| Race ratio | Black or African American, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4% | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 11% |