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Signing agent vs loan officer

The differences between signing agents and loan officers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a loan officer has an average salary of $45,817, which is higher than the $36,875 average annual salary of a signing agent.

The top three skills for a signing agent include notary, real estate transactions and escrow companies. The most important skills for a loan officer are customer service, origination, and loan origination.

Signing agent vs loan officer overview

Signing AgentLoan Officer
Yearly salary$36,875$45,817
Hourly rate$17.73$22.03
Growth rate5%4%
Number of jobs29,81563,663
Job satisfaction-4.5
Most common degreeBachelor's Degree, 49%Bachelor's Degree, 61%
Average age4945
Years of experience-6

Signing agent vs loan officer salary

Signing agents and loan officers have different pay scales, as shown below.

Signing AgentLoan Officer
Average salary$36,875$45,817
Salary rangeBetween $21,000 And $61,000Between $30,000 And $69,000
Highest paying City-New York, NY
Highest paying state-New York
Best paying company-Bangor Savings Bank
Best paying industry-Finance

Differences between signing agent and loan officer education

There are a few differences between a signing agent and a loan officer in terms of educational background:

Signing AgentLoan Officer
Most common degreeBachelor's Degree, 49%Bachelor's Degree, 61%
Most common majorBusinessBusiness
Most common college-University of Pennsylvania

Signing agent vs loan officer demographics

Here are the differences between signing agents' and loan officers' demographics:

Signing AgentLoan Officer
Average age4945
Gender ratioMale, 23.9% Female, 76.1%Male, 55.3% Female, 44.7%
Race ratioBlack or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.2% Asian, 6.9% White, 70.0% American Indian and Alaska Native, 0.3%Black or African American, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5%
LGBT Percentage13%8%

Differences between signing agent and loan officer duties and responsibilities

Signing agent example responsibilities.

  • Manage escrow department for title insurance company.
  • Close FHA, VA, Fannie Mae loans.
  • Refinance, first time buyers, FHA loans, VA loans.
  • Explain documents such as HUD , 1003 , 1004 , 1008 and truth in lending
  • Perform approx 40 plus annuities 3.
  • Close land contracts, REO properties, government loans and commercial properties.
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Loan officer example responsibilities.

  • Manage a multifacete commercial real estate investment firm.
  • Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
  • Follow up leads for refinance loans gather all applications and necessary paperwork to qualify applicants from origination to close of escrow.
  • Analyze available resources to determine suitable mortgage products (FHA, FNMA/FHLC) to meet clients' purchasing or refinancing goals.
  • Originate and process various loan products including government, conventional, portfolio, construction, USDA mortgages, home equity line/loans.
  • Originate FHA, VA, conventional, jumbo, and USDA loans, according to specific lender guidelines in broker environment.
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Signing agent vs loan officer skills

Common signing agent skills
  • Notary, 43%
  • Real Estate Transactions, 11%
  • Escrow Companies, 10%
  • Loan Packages, 5%
  • Reverse Mortgages, 3%
  • Heloc, 3%
Common loan officer skills
  • Customer Service, 17%
  • Origination, 13%
  • Loan Origination, 5%
  • FHA, 5%
  • NMLS, 5%
  • Loan Products, 4%