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The differences between processors and closing coordinators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become a processor, becoming a closing coordinator takes usually requires 2-4 years. Additionally, a closing coordinator has an average salary of $39,066, which is higher than the $32,098 average annual salary of a processor.
The top three skills for a processor include data entry, customer service and patients. The most important skills for a closing coordinator are customer service, escrow, and HOA.
| Processor | Closing Coordinator | |
| Yearly salary | $32,098 | $39,066 |
| Hourly rate | $15.43 | $18.78 |
| Growth rate | -3% | -3% |
| Number of jobs | 11,448 | 19,203 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 50% |
| Average age | 50 | 42 |
| Years of experience | 12 | 4 |
Processors are employees who deal with clients and ensure that the clients' requests are provided. Processors usually handle loans or any other related claims. They are in charge of managing the submission of the clients' rights. They communicate the requirements to clients, schedule appointments, receive requirements submitted by clients, validate the requirements, and endorse further processing and approval requirements. Processors act as the bridge between clients and other institutions. They also communicate the request's status to clients and assist should it be needed after approval.
In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement. Moreover, a closing coordinator must maintain an active communication line with staff, answering their inquiries, and assisting them as needed.
Processors and closing coordinators have different pay scales, as shown below.
| Processor | Closing Coordinator | |
| Average salary | $32,098 | $39,066 |
| Salary range | Between $24,000 And $41,000 | Between $29,000 And $52,000 |
| Highest paying City | Randolph, MA | Kirkland, WA |
| Highest paying state | California | Washington |
| Best paying company | Argonne National Laboratory | HarbourVest |
| Best paying industry | Finance | Finance |
There are a few differences between a processor and a closing coordinator in terms of educational background:
| Processor | Closing Coordinator | |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | - | University of Pennsylvania |
Here are the differences between processors' and closing coordinators' demographics:
| Processor | Closing Coordinator | |
| Average age | 50 | 42 |
| Gender ratio | Male, 34.0% Female, 66.0% | Male, 20.8% Female, 79.2% |
| Race ratio | Black or African American, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1% | Black or African American, 12.7% Unknown, 4.7% Hispanic or Latino, 15.8% Asian, 6.3% White, 59.9% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |