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The differences between transaction coordinators and mortgage assistants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a transaction coordinator and a mortgage assistant. Additionally, a transaction coordinator has an average salary of $41,792, which is higher than the $33,961 average annual salary of a mortgage assistant.
The top three skills for a transaction coordinator include customer service, MLS and escrow companies. The most important skills for a mortgage assistant are data entry, mortgage loans, and loan applications.
| Transaction Coordinator | Mortgage Assistant | |
| Yearly salary | $41,792 | $33,961 |
| Hourly rate | $20.09 | $16.33 |
| Growth rate | -3% | -3% |
| Number of jobs | 16,804 | 5,147 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 53% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A transaction coordinator is responsible for performing administrative and clerical duties for the clients regarding their real estate contracts and transactions. Transaction coordinators sometimes do fieldwork to inspect the property area, write findings reports, perform cost and expenses analysis, and inform the clients of required documentation. They also identify resources and other alternatives that would most likely fit the client's budget limitations and interests. A transaction coordinator must have excellent organizational and communication skills, especially in coordinating with other organizations to process the client's requirements for property acquisition.
A mortgage assistant, sometimes referred to as a loan officer assistant, works directly with clients and members of the office to meet set organization goals. Their key responsibilities include reviewing loan applications, preparing letters for credit for clients, offering administrative support to supervising loan officers, and providing customer service to clients. They are also required to use computer programs to track loan processing and billing. This role requires customer service experience and knowledge of relevant computer software.
Transaction coordinators and mortgage assistants have different pay scales, as shown below.
| Transaction Coordinator | Mortgage Assistant | |
| Average salary | $41,792 | $33,961 |
| Salary range | Between $30,000 And $57,000 | Between $26,000 And $43,000 |
| Highest paying City | White Plains, NY | Rockville, MD |
| Highest paying state | New York | West Virginia |
| Best paying company | JPMorgan Chase & Co. | DFCU Financial |
| Best paying industry | Finance | Professional |
There are a few differences between a transaction coordinator and a mortgage assistant in terms of educational background:
| Transaction Coordinator | Mortgage Assistant | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between transaction coordinators' and mortgage assistants' demographics:
| Transaction Coordinator | Mortgage Assistant | |
| Average age | 42 | 42 |
| Gender ratio | Male, 19.0% Female, 81.0% | Male, 21.6% Female, 78.4% |
| Race ratio | Black or African American, 9.7% Unknown, 4.3% Hispanic or Latino, 19.3% Asian, 6.8% White, 59.6% American Indian and Alaska Native, 0.4% | Black or African American, 12.0% Unknown, 4.4% Hispanic or Latino, 13.7% Asian, 7.9% White, 61.5% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |