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The differences between post closers and loan servicing specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a post closer and a loan servicing specialist. Additionally, a loan servicing specialist has an average salary of $65,799, which is higher than the $38,045 average annual salary of a post closer.
The top three skills for a post closer include loan packages, post-closer and FHA. The most important skills for a loan servicing specialist are loan modifications, customer service, and foreclosure process.
| Post Closer | Loan Servicing Specialist | |
| Yearly salary | $38,045 | $65,799 |
| Hourly rate | $18.29 | $31.63 |
| Growth rate | -3% | -3% |
| Number of jobs | 10,407 | 31,753 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 55% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
Post closers require an associate degree or certification in addition to 1-3 years of related experience. Skills in customer support, document review, loan processing, quality assurance processing, and loan software are also necessary for this career. Port closers assist with the mortgage loan closing process by reviewing loan documents for compliance, completeness, and accuracy. They also find missing information, prepare files and provide internal and external customer support.
A loan servicing specialist is an individual who reviews, authorizes, and recommends commercial and personal loans for approval. It is the loan officer who meets with their applicants to identify their creditworthiness. Typically, they work at credit unions, commercial banks, mortgage companies, and financial institutions. They ensure operational risk controls, regulatory policies and standards, and compliance. Among the skills necessary for the job include customer service and relations, leadership, analytical skills, and communication skills.
Post closers and loan servicing specialists have different pay scales, as shown below.
| Post Closer | Loan Servicing Specialist | |
| Average salary | $38,045 | $65,799 |
| Salary range | Between $29,000 And $48,000 | Between $28,000 And $153,000 |
| Highest paying City | San Ramon, CA | Charleston, SC |
| Highest paying state | California | Maryland |
| Best paying company | Amplify Credit Union | Glacier Ban |
| Best paying industry | Insurance | Finance |
There are a few differences between a post closer and a loan servicing specialist in terms of educational background:
| Post Closer | Loan Servicing Specialist | |
| Most common degree | Bachelor's Degree, 41% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between post closers' and loan servicing specialists' demographics:
| Post Closer | Loan Servicing Specialist | |
| Average age | 42 | 42 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 13.4% Unknown, 4.2% Hispanic or Latino, 16.7% Asian, 6.6% White, 58.6% American Indian and Alaska Native, 0.4% | Black or African American, 11.8% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 8.2% White, 60.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |