Don't Miss Out on the Perfect Mortgage Loan Specialist job
Receive timely job alerts curated specifically for you, ensuring you never miss an opportunity to excel in your field.
No, I'm not interested
bell icon

Salary and Benefits

Mortgage Loan Specialist
$44K-$54K / yr. (est.)
$45K
$49,785 / year
$55K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Mortgage Loan Specialist

What does a Mortgage Loan Specialist do?

As Mortgage Loan Specialists, our primary tasks involve assessing loan applications and guiding clients through the mortgage application process. We analyze borrower financials to ensure they meet loan requirements and aid in choosing the best loan products. Our responsibilities also include explaining terms, conditions, and financial obligations to clients in a clear, accessible manner. We work closely with underwriters and financial institutions to streamline the loan approval process. Additionally, we ensure all necessary documentation is accurate and complete to allow for timely loan closings.

Core tasks:

  • Assessing and verifying borrower financial information
  • Explaining loan terms and conditions to clients
  • Recommending suitable loan products based on individual client needs
  • Coordinating with underwriters and financial institutions for loan approval
  • Ensuring completion and accuracy of all required documentation

Insights

How Many Years of Experience Do Professionals Need Before Becoming Mortgage Loan Specialist?
On average, people work 5-7 years in other positions prior to becoming a Mortgage Loan Specialist.
avatar-of-creator
Mortgage Loan SpecialistPhiladelphia, PA - A year ago
🤔 I guess it's good that other workers have to go through different positions before becoming a Mortgage Loan Specialist. They should build a solid foundation!
avatar-of-creator
Mortgage Loan SpecialistSan Francisco, CA - A year ago
oh great, just what we need - more bureaucracy in the mortgage industry. This is ridiculous!
How Long Do Mortgage Loan Specialist Employees Typically Stay in Their Roles?
On average, Mortgage Loan Specialists works in this position for 3-5 years across multiple employers.
avatar-of-creator
Real Estate AgentHouston, TX - A year ago
Wow, 3-5 years in this industry and they're still going through various employers? They must not be doing something right!
avatar-of-creator
Financial AnalystBoston, MA - A year ago
𝓦 ?
What Is the Job Hopper Score for Mortgage Loan Specialist Employees?
Moderate job changes in Mortgage Loan Specialist, showing some career movement without excessive turnover.
avatar-of-creator
Loan ProcessorHouston, TX - A year ago
This highlights the potential for advancement as a mortgage loan specialist. It's great to know that there are opportunities for career growth within this field!
avatar-of-creator
Financial AdvisorMiami, FL - A year ago
💪 It's essential for financial advisors to stay up-to-date with industry trends and explore new career paths. This infographic provides valuable insights into the evolving nature of mortgage loan specialist roles!

Career path

Path to job

Discover a Mortgage Loan Specialist's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Mortgage Loan Specialist typically studied at.
Arizona State University-Tempe
San Diego State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Mortgage Loan Specialist Employees?
Gender ratio in Mortgage Loan Specialist position: 0.526936026936027 Male and 0.473063973063973 Female. Age ratio in Mortgage Loan Specialist position: 16-20: 7%, 21-30: 54%, 31-40: 22%, 41-50: 11%, 51-60: 5%, 60+: 1%. Mortgage Loan Specialist position is predominantly male (52.7%) with the largest age group being 21-30 years old, followed by 31-40 years old.
avatar-of-creator
Mortgage Loan SpecialistNew York City, NY - A year ago
Can't believe the percentage of women in their 60s working as Mortgage Loan Specialists is only 1%. We need more diversity in this industry! 💔
avatar-of-creator
Mortgage Loan SpecialistSeattle, WA - A year ago
Age doesn't define your capabilities in this line of work! Let's celebrate the skills and dedication of Mortgage Loan Specialists from all age groups. 👏

Workplaces

Who Are the Top Employers for Mortgage Loan Specialist?
Top employers of Mortgage Loan Specialist position: Bank of America, Churchill Mortgage, PennyMac Loan Services, LLC. People who work in Mortgage Loan Specialist position most typically go on to work for the Bank of America.
avatar-of-creator
Mortgage Loan SpecialistHouston, TX - A year ago
In my experience, Bank of America does not prioritize their Mortgage Loan Specialists. They are more focused on profit and a higher employee turnover rate.
avatar-of-creator
Mortgage Loan SpecialistNew York City, NY - A year ago
I've had a great experience with Bank of America as a Mortgage Loan Specialist. They provide ample opportunities for career growth and have a positive work environment.
Bank of America
Churchill Mortgage
PennyMac Loan Services, LLC
What Industries Does Mortgage Loan Specialist Typically Have Experience In?
Industry Background: The most typical industries of Mortgage Loan Specialist: Finance & Insurance, Professional / Scientific / Technical, Real Estate / Rental / Leasing, Construction, Information Technology. Mortgage Loan Specialist employees most likely come from a Finance & Insurance industry background.
avatar-of-creator
Mortgage Loan SpecialistHouston, TX - A year ago
Does anyone else get incredibly frustrated when colleagues make mistakes that delay the loan process? 🤬
avatar-of-creator
Mortgage Loan SpecialistPhiladelphia, PA - A year ago
The amount of paperwork I have to deal with is insane! There has to be a more efficient way to handle loans! 😩

Find your job as Mortgage Loan Specialist

Discussion about Mortgage Loan Specialist

Want to know more about Mortgage Loan Specialist position?
Share your thoughts and ideas about Mortgage Loan Specialist position with others in our community.
discussion icon
How is the gender diversity among people working as a Mortgage Loan Specialist?
avatar-of-creator
Benjamin Gardner4 years ago
This is a well balanced profession, about half of the people are women.
What is the most common age of a Mortgage Loan Specialist?
avatar-of-creator
Sophie Hayes4 years ago
The typical age is 31 for a Mortgage Loan Specialist.
Is a Mortgage Loan Specialist considered to be a junior profession?
avatar-of-creator
Isabella Holmes4 years ago
You should work for 6 years on average to become a Mortgage Loan Specialist.
Which industries are highly likely to employ a Mortgage Loan Specialist?
avatar-of-creator
Benjamin Gardner4 years ago
For a Mortgage Loan Specialist it’s the most likely to work in the Finance & Insurance.
What kind of degree is needed to work as a Mortgage Loan Specialist?
avatar-of-creator
Isabella Holmes4 years ago
Most people have No higher education
Which company is likely to have openings for Mortgage Loan Specialist positions?
avatar-of-creator
Benjamin Gardner4 years ago
Bank of America, Churchill Mortgage, PennyMac Loan Services, LLC, Wells Fargo and Wells Fargo Home Mortgage employs the most people in the Mortgage Loan Specialist role.
How long do people usually work as a Mortgage Loan Specialist when they switch to another position?
avatar-of-creator
Sophie Hayes4 years ago
A Mortgage Loan Specialist typically changes positions after 4 years.
How likely is it for people working as a Mortgage Loan Specialist to switch companies still working as a Mortgage Loan Specialist?
avatar-of-creator
Sophie Hayes4 years ago
a Mortgage Loan Specialist is not a typical job hopper, but might change companies.
What do people usually work as before switching to Mortgage Loan Specialist?
avatar-of-creator
Liam Brown4 years ago
You have a good chance of becoming a Mortgage Loan Specialist if you are working as Loan Officer, Mortgage Loan Officer or Loan Processor
What are the typical next steps for someone working as a Mortgage Loan Specialist?
avatar-of-creator
Sophie Hayes4 years ago
Working as Mortgage Loan Specialist consider Mortgage Loan Officer, Loan Officer or Mortgage Loan Processor as a next step in your career.
Don't Miss Out on the Perfect Mortgage Loan Specialist job
Receive timely job alerts curated specifically for you, ensuring you never miss an opportunity to excel in your field.
No, I'm not interested
bell icon

Disclaimer

informationLENSA generates certain information provided on this website by compiling and analyzing publicly available data and data from employees/former employees. All company names are the registered trademarks of their original owners. The use of any trade name or trademark does not imply any association with the third-party company. None of the information provided is endorsed in any way by any of the companies mentioned. We do not guarantee the accuracy, currency, or suitability of this information (including regarding demographics or salary estimate) and you are responsible for how you use it. ALL INFORMATION IS PROVIDED “AS IS” AND “WITH ALL FAULTS”. We are not responsible for nor endorse third party content on our website. If you notice any inaccurate information or information you think is proprietary you can email us at [email protected]. See our Terms and Conditions and Community Guidelines for more information.