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Real estate loan officer vs escrow officer

The differences between real estate loan officers and escrow officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a real estate loan officer and an escrow officer. Additionally, a real estate loan officer has an average salary of $90,206, which is higher than the $50,270 average annual salary of an escrow officer.

The top three skills for a real estate loan officer include real estate loans, mortgage loans and business development. The most important skills for an escrow officer are customer service, HOA, and title insurance.

Real estate loan officer vs escrow officer overview

Real Estate Loan OfficerEscrow Officer
Yearly salary$90,206$50,270
Hourly rate$43.37$24.17
Growth rate4%4%
Number of jobs82,58162,077
Job satisfaction--
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 47%
Average age4545
Years of experience66

Real estate loan officer vs escrow officer salary

Real estate loan officers and escrow officers have different pay scales, as shown below.

Real Estate Loan OfficerEscrow Officer
Average salary$90,206$50,270
Salary rangeBetween $56,000 And $144,000Between $36,000 And $70,000
Highest paying City-Walnut Creek, CA
Highest paying state-New Mexico
Best paying company-Fidelity National Financial
Best paying industry-Finance

Differences between real estate loan officer and escrow officer education

There are a few differences between a real estate loan officer and an escrow officer in terms of educational background:

Real Estate Loan OfficerEscrow Officer
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 47%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Real estate loan officer vs escrow officer demographics

Here are the differences between real estate loan officers' and escrow officers' demographics:

Real Estate Loan OfficerEscrow Officer
Average age4545
Gender ratioMale, 54.6% Female, 45.4%Male, 14.9% Female, 85.1%
Race ratioBlack or African American, 8.4% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 64.0% American Indian and Alaska Native, 0.5%Black or African American, 8.8% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.2% White, 64.0% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between real estate loan officer and escrow officer duties and responsibilities

Real estate loan officer example responsibilities.

  • Manage a multifacete commercial real estate investment firm.
  • Supervise loan from origination and application through processing and final disposition.
  • Complete origination documents, obtain necessary signatures and deliver complete loan package to processing.
  • Schedule property website implementation from template, update internet/social media advertising, and handle MLS entry.
  • Train to use a mortgage calculator and experience using calyx point.

Escrow officer example responsibilities.

  • Manage escrow department for title insurance company.
  • Perform closing for a variety of real estate escrows types, including but not limit to REO resale and resale escrows.
  • Operate multi-line phone system and perform basic office procedures.
  • Prepare closing documents, close escrow, TRID CD, clear title.
  • Order conveyance deeds and other pertinent documents from outside vendors.
  • Prepare documents to be record with county and return to mortgage company for conveyance.
  • Show more

Real estate loan officer vs escrow officer skills

Common real estate loan officer skills
  • Real Estate Loans, 19%
  • Mortgage Loans, 8%
  • Business Development, 7%
  • Escrow, 7%
  • Financial Products, 6%
  • Financial Statements, 5%
Common escrow officer skills
  • Customer Service, 23%
  • HOA, 6%
  • Title Insurance, 6%
  • Notary, 5%
  • Develop Client Relationships, 5%
  • Real Estate Transactions, 5%

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