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How much does a Loan Servicing Specialist make?

The average salary for a Loan Servicing Specialist is $55,174 per year in the US.

A Loan Servicing Specialist plays a key role in managing mortgage payments and ensuring borrowers stay on track. This job offers a stable income with a good average yearly salary. The average salary for a Loan Servicing Specialist is around $55,174. This means that, on average, someone in this role can expect to earn this amount each year.

The salary for Loan Servicing Specialists can vary based on experience and location. Here are some common salary ranges:

  • The lowest 10% earn about $35,180.
  • The next 20% earn between $35,180 and $48,784.
  • The middle 20% earn between $48,784 and $55,585.
  • The next 20% earn between $55,585 and $69,189.
  • The highest 10% earn over $89,595.

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What are the highest paying cities for a Loan Servicing Specialist?

Job seekers looking for Loan Servicing Specialist roles can find some of the highest paying opportunities in Tampa, FL, where the average salary stands at $67,717. Dallas, TX, and Charlotte, NC, follow closely with average salaries of $65,738 and $63,145, respectively. Denver, CO, and Chicago, IL, also offer competitive salaries, making these cities attractive for professionals in this field.
Graph displaying highest paying cities salaries for Loan Servicing Specialist jobs, highlighting Tampa, FL with the highest at $67,717 and Fresno, CA with the lowest at $54,969.
  1. Tampa, FL
    Average Salary: $67,717
    In Tampa, loan servicing specialists work with major financial institutions. They handle mortgage payments and customer inquiries. The warm climate makes for a pleasant work environment.
    Find Loan Servicing Specialist jobs in Tampa, FL


  2. Dallas, TX
    Average Salary: $65,738
    Dallas offers a dynamic job market for loan servicing specialists. They work with companies like Chase and Bank of America. The city's growth provides many opportunities for career advancement.
    Find Loan Servicing Specialist jobs in Dallas, TX


  3. Charlotte, NC
    Average Salary: $63,145
    Charlotte is known as a banking hub. Loan servicing specialists here manage loans for large banks. The city offers a mix of urban and suburban living, making it a great place to work and live.
    Find Loan Servicing Specialist jobs in Charlotte, NC


  4. Denver, CO
    Average Salary: $62,596
    In Denver, loan servicing specialists enjoy a healthy work-life balance. They work with companies like U.S. Bank and Wells Fargo. The scenic beauty of the Rockies adds to the appeal of working here.
    Find Loan Servicing Specialist jobs in Denver, CO


  5. Chicago, IL
    Average Salary: $61,843
    Chicago's financial sector offers many jobs for loan servicing specialists. They work with big names like JPMorgan Chase. The city's vibrant culture and public transportation make it an attractive place to work.
    Find Loan Servicing Specialist jobs in Chicago, IL


  6. Minneapolis, MN
    Average Salary: $61,388
    Minneapolis provides a strong job market for loan servicing specialists. They work with companies like U.S. Bank and Fifth Third Bank. The city's parks and lakes offer a great outdoor lifestyle.
    Find Loan Servicing Specialist jobs in Minneapolis, MN


  7. Los Angeles, CA
    Average Salary: $57,867
    In Los Angeles, loan servicing specialists handle loans for major financial firms. They work with companies like Bank of America and Chase. The city's diverse culture and entertainment options make it an exciting place to live and work.
    Find Loan Servicing Specialist jobs in Los Angeles, CA


  8. Sacramento, CA
    Average Salary: $57,660
    Sacramento offers a balanced job market for loan servicing specialists. They work with local and national banks. The city's affordable cost of living and beautiful parks make it a great place to work and relax.
    Find Loan Servicing Specialist jobs in Sacramento, CA


  9. San Diego, CA
    Average Salary: $55,967
    San Diego provides a pleasant environment for loan servicing specialists. They work with companies like Wells Fargo and U.S. Bank. The city's beaches and mild climate make it a desirable place to work and live.
    Find Loan Servicing Specialist jobs in San Diego, CA


  10. Fresno, CA
    Average Salary: $54,969
    In Fresno, loan servicing specialists work with local and national banks. They handle mortgage and loan payments. The city's affordable living and agricultural industry provide a unique work environment.
    Find Loan Servicing Specialist jobs in Fresno, CA

What are the best companies a Loan Servicing Specialist can work for?

Citi offers the highest salary for Loan Servicing Specialists, averaging around $82,128 per year. Glacier Bancorp and US Farm Service Agency also provide competitive salaries, with averages around $60,784 and $59,559, respectively. These companies offer attractive compensation packages for those in the loan servicing field.
Graph displaying best paying company salaries for Loan Servicing Specialist jobs, highlighting Citi with the highest at $82,128 and Regions Financial with the lowest at $40,031.
  1. Citi
    Average Salary: $82,128
    Citi offers Loan Servicing Specialist jobs with a focus on managing mortgage and loan accounts. Citi operates globally, with major offices in New York, London, and Hong Kong.


  2. Glacier Bancorp
    Average Salary: $60,784
    Glacier Bancorp provides Loan Servicing Specialist roles that involve handling customer accounts and ensuring compliance. The company operates in the western United States, with locations in Washington, Oregon, and California.


  3. US Farm Service Agency
    Average Salary: $59,559
    The US Farm Service Agency offers Loan Servicing Specialist jobs that focus on agricultural loans. This federal agency operates nationwide, with offices in every state.


  4. Wintrust Financial Corporation
    Average Salary: $57,571
    Wintrust Financial Corporation provides Loan Servicing Specialist positions that manage mortgage and loan accounts. The company operates in the Midwest, with a strong presence in Illinois and Florida.


  5. Golden 1 Credit Union
    Average Salary: $53,828
    Golden 1 Credit Union offers Loan Servicing Specialist jobs that involve customer service and account management. The credit union operates in California, with branches throughout the state.


  6. TEKsystems
    Average Salary: $53,554
    TEKsystems provides Loan Servicing Specialist roles that focus on technology and process improvement. The company operates in various locations across the United States.


  7. Ballston Spa National Bank
    Average Salary: $53,000
    Ballston Spa National Bank offers Loan Servicing Specialist jobs that involve managing loans and customer accounts. The bank operates in New York, with branches in the Capital Region.


  8. East West Bank
    Average Salary: $50,273
    East West Bank provides Loan Servicing Specialist roles that focus on customer service and account management. The bank operates in California, with branches in major cities.


  9. Robert Half
    Average Salary: $46,831
    Robert Half offers Loan Servicing Specialist jobs that involve managing loans and customer accounts. The company operates in various locations across the United States.


  10. Regions Financial
    Average Salary: $40,031
    Regions Financial provides Loan Servicing Specialist roles that focus on customer service and account management. The company operates in the southeastern United States, with branches in multiple states.

How to earn more as a Loan Servicing Specialist?

A Loan Servicing Specialist can find several ways to increase their earnings. This role involves managing mortgage payments and ensuring borrowers meet their obligations. By focusing on key areas, specialists can enhance their performance and potentially earn more.

First, gaining certifications can boost earning potential. Certifications such as the Certified Residential Mortgage Specialist (CRMS) or the Certified Mortgage Servicing Professional (CMSP) can make a specialist more valuable. These credentials show a commitment to the field and a deeper understanding of mortgage servicing.

Second, improving customer service skills can lead to higher earnings. Excellent communication and problem-solving skills can help specialists resolve issues quickly and keep customers satisfied. Happy customers are more likely to stay with the company, leading to better job security and potential raises.

  1. Certifications: Obtain certifications like CRMS or CMSP to increase value.
  2. Customer Service: Enhance skills to resolve issues and keep customers satisfied.
  3. Technology Skills: Learn new software and tools to work more efficiently.
  4. Networking: Connect with other professionals to learn about job opportunities.
  5. Continuous Learning: Stay updated with industry trends and best practices.

Currently 150 Loan Servicing Specialist job openings, nationwide.

How's the job market for a Loan Servicing Specialist in the US?

Learn what a Loan Servicing Specialist does, how to become one, and understand the job outlook. Get simple steps to start your career as a Loan Servicing Specialist today.
Position
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Loan Servicing Specialist
150 Job Openings