The average hourly pay for a Loan Servicing Representative is $15.92.
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$13 - $21
$303 - $6,128
$983 - $2,500
$0 - $6,500
$27,355 - $49,998
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Job Description for Loan Servicing Representative
A loan servicing representative provides customer service regarding loans and mortgages. They must have a high level of understanding of their institution's loans, mortgages, and accompanying documentation. Often, customers call an institution with questions about the terms of a loan or other requirements to remain in good standing with the institution; by being able to effectively navigate loan processes and documentation, the loan servicing representative can address many customer concerns. Ad…Read more
Loan Servicing Representative Tasks
- Document client interactions and accurately capture data using company loan processing systems.
- Ensure compliance with all federal and local rules, laws, and regulations.
- Ensure loan guidelines are followed and loans are underwritten properly in accordance with all company procedures.
- Educate clients and assist them through the loan process.
Popular Employer Salaries for Loan Servicing Representative
Explore the most common career paths for Loan Servicing Representative. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loan Servicing Representative
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Loan Servicing Representative Job Listings
Popular Skills for Loan Servicing Representative
Avg. Hourly Rate
Skills in Loan Documents, Microsoft Excel, Data Entry and Mortgage Loans are correlated to pay that is above average. Skills that pay less than market rate include Customer Service.
Pay by Experience Level for Loan Servicing Representative
An entry-level Loan Servicing Representative with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $14.72 based on 58 salaries. An early career Loan Servicing Representative with 1-4 years of experience earns an average total compensation of $15.20 based on 136 salaries. A mid-career Loan Servicing Representative with 5-9 years of experience earns an average total compensation of $16.35 based on 63 salaries. An experienced Loan Servicing Representative with 10-19 years of experience earns an average total compensation of $18.19 based on 54 salaries. In their late career (20 years and higher), employees earn an average total compensation of $20.
Pay Difference by Location
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Years of Experience
This data is based on 321 survey responses.