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Loan Servicing Specialist salary
Average loan servicing specialist salary
$65,799
How much does a loan servicing specialist make?
The average loan servicing specialist salary in the United States is $65,799. Loan servicing specialist salaries typically range between $28,000 and $153,000 yearly. The average hourly rate for loan servicing specialists is $31.63 per hour.
Loan servicing specialist salary is impacted by location, education, and experience. Loan servicing specialists earn the highest average salary in Maryland.
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Where can a Loan Servicing Specialist earn more?
Loan Servicing Specialist Salaries By Experience Level
Loan Servicing Specialist salary estimates from across the web
Average loan servicing specialist salary by state
Highest paying states for loan servicing specialists
Rank  | State | Avg. Salary | Hourly Rate |
|---|---|---|---|
| 1 | Delaware | $108,609 | $52.22 |
| 2 | North Carolina | $110,331 | $53.04 |
| 3 | Florida | $105,918 | $50.92 |
| 4 | Alabama | $107,718 | $51.79 |
| 5 | South Carolina | $116,077 | $55.81 |
| 6 | Texas | $105,051 | $50.51 |
| 7 | Tennessee | $107,250 | $51.56 |
| 8 | Georgia | $114,202 | $54.90 |
| 9 | Maryland | $117,091 | $56.29 |
| 10 | Louisiana | $105,142 | $50.55 |
| 11 | Rhode Island | $102,130 | $49.10 |
| 12 | West Virginia | $109,882 | $52.83 |
| 13 | New Jersey | $107,225 | $51.55 |
| 14 | Mississippi | $99,682 | $47.92 |
| 15 | Arkansas | $101,247 | $48.68 |
| 16 | Ohio | $86,604 | $41.64 |
| 17 | Kentucky | $99,538 | $47.85 |
| 18 | New York | $103,389 | $49.71 |
| 19 | Indiana | $85,236 | $40.98 |
| 20 | Virginia | $100,259 | $48.20 |
| 21 | Michigan | $82,046 | $39.45 |
| 22 | Pennsylvania | $89,143 | $42.86 |
| 23 | Arizona | $73,461 | $35.32 |
| 24 | Connecticut | $101,831 | $48.96 |
| 25 | Oklahoma | $90,224 | $43.38 |
| 26 | Massachusetts | $97,810 | $47.02 |
| 27 | Iowa | $66,018 | $31.74 |
| 28 | Missouri | $76,653 | $36.85 |
| 29 | Kansas | $79,886 | $38.41 |
| 30 | Vermont | $65,626 | $31.55 |
| 31 | District of Columbia | $93,730 | $45.06 |
| 32 | New Hampshire | $86,110 | $41.40 |
| 33 | Wisconsin | $79,507 | $38.22 |
| 34 | Colorado | $72,394 | $34.80 |
| 35 | Nevada | $61,717 | $29.67 |
| 36 | Illinois | $73,691 | $35.43 |
| 37 | Nebraska | $62,618 | $30.10 |
| 38 | New Mexico | $76,813 | $36.93 |
| 39 | Wyoming | $50,682 | $24.37 |
| 40 | Utah | $52,355 | $25.17 |
| 41 | Minnesota | $57,288 | $27.54 |
| 42 | South Dakota | $51,383 | $24.70 |
| 43 | North Dakota | $44,657 | $21.47 |
| 44 | California | $75,239 | $36.17 |
| 45 | Alaska | $31,452 | $15.12 |
| 46 | Maine | $62,724 | $30.16 |
| 47 | Hawaii | $33,440 | $16.08 |
| 48 | Montana | $40,459 | $19.45 |
| 49 | Oregon | $42,938 | $20.64 |
| 50 | Idaho | $40,676 | $19.56 |
| 51 | Washington | $42,860 | $20.61 |
Highest paying cities for loan servicing specialists
The highest-paying cities for loan servicing specialists are Charleston, SC, Columbus, GA, and Chattanooga, TN.
| Rank | City | Avg. Salary | Hourly Rate |
|---|---|---|---|
| 1 | Charleston, SC | $188,061 | $90.41 |
| 2 | Columbus, GA | $177,260 | $85.22 |
| 3 | Chattanooga, TN | $174,780 | $84.03 |
| 4 | Wilson, NC | $163,640 | $78.67 |
| 5 | Birmingham, AL | $157,453 | $75.70 |
| 6 | Houston, TX | $151,611 | $72.89 |
| 7 | Nicholasville, KY | $146,510 | $70.44 |
| 8 | Lafayette, LA | $142,647 | $68.58 |
| 9 | Gulfport, MS | $137,309 | $66.01 |
| 10 | New York, NY | $128,210 | $61.64 |
| 11 | Boston, MA | $111,578 | $53.64 |
| 12 | Columbus, OH | $109,294 | $52.55 |
| 13 | Springfield, MO | $98,058 | $47.14 |
| 14 | Wilkes-Barre, PA | $93,490 | $44.95 |
| 15 | Springfield, IL | $89,544 | $43.05 |
| 16 | El Monte, CA | $82,533 | $39.68 |
| 17 | Colorado Springs, CO | $81,345 | $39.11 |
| 18 | Chandler, AZ | $76,791 | $36.92 |
| 19 | Des Moines, IA | $69,044 | $33.19 |
| 20 | Minneapolis, MN | $57,256 | $27.53 |
Loan Servicing Specialists are the most in-demand in these five cities:
Loan Servicing Specialist salary details
A loan servicing specialist's salary ranges from $28,000 a year at the 10th percentile to $153,000 at the 90th percentile.
What is a loan servicing specialist's salary?
| Percentile | Annual Salary | Monthly Salary | Hourly Rate |
|---|---|---|---|
| 90th Percentile | $153,000 | $12,750 | $74 |
| 75th Percentile | $102,000 | $8,500 | $49 |
| Average | $65,799 | $5,483 | $32 |
| 25th Percentile | $42,000 | $3,500 | $20 |
| 10th Percentile | $28,000 | $2,333 | $13 |
Highest paying loan servicing specialist jobs
The highest paying types of loan servicing specialists are specialist, service specialist, and mortgage loan processor.
| Job Title | Annual Salary | Monthly Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| Processor | $32,098 | $2,675 | $15.43 | 11,448 |
| Document Processor | $32,730 | $2,727 | $15.74 | 8,761 |
| Mortgage Loan Processor | $43,594 | $3,633 | $20.96 | 16,276 |
| Transaction Coordinator | $41,792 | $3,483 | $20.09 | 16,804 |
| Loan Processor | $38,122 | $3,177 | $18.33 | 16,228 |
| Closing Coordinator | $39,066 | $3,256 | $18.78 | 19,203 |
Top companies hiring loan servicing specialists now:
Which companies pay loan servicing specialists the most?
Loan servicing specialist salaries at Glacier Ban and Morgan Stanley are the highest-paying according to our most recent salary estimates. In addition, the average loan servicing specialist salary at companies like Busey and Sandy Spring Bank are highly competitive.
| Rank | Company | Average Salary | Hourly Rate |
|---|---|---|---|
| 1 | Glacier Ban | $161,088 | $77.45 |
| 2 | Morgan Stanley | $155,117 | $74.58 |
| 3 | Busey | $145,389 | $69.90 |
| 4 | Sandy Spring Bank | $139,643 | $67.14 |
| 5 | JPMorgan Chase & Co. | $118,735 | $57.08 |
| 6 | Fifth Third Bank | $115,121 | $55.35 |
| 7 | OpTech | $112,546 | $54.11 |
| 8 | Deutsche Bank | $99,747 | $47.96 |
| 9 | Farm Credit System | $88,680 | $42.63 |
| 10 | First Republic Bank | $88,130 | $42.37 |
| 11 | Salem Five | $86,870 | $41.76 |
| 12 | Prosperity Bank | $85,947 | $41.32 |
| 13 | J.P. Morgan | $85,338 | $41.03 |
| 14 | Huntington National Bank | $83,428 | $40.11 |
| 15 | Newburyport Five Cents Savings Bank | $80,308 | $38.61 |
| 16 | Cathay Bank | $79,564 | $38.25 |
| 17 | Baker Boyer Bank | $79,274 | $38.11 |
| 18 | United Community Bank | $78,696 | $37.83 |
| 19 | Wintrust Financial | $67,851 | $32.62 |
| 20 | East West Bank | $63,591 | $30.57 |
Wage gap by gender, race and education
Loan Servicing Specialist salary trends
The average loan servicing specialist salary has risen by $10,418 over the last ten years. In 2014, the average loan servicing specialist earned $55,381 annually, but today, they earn $65,799 a year. That works out to a 7% change in pay for loan servicing specialists over the last decade.
Compare loan servicing specialist salaries for cities or states with the national average over time.
Average loan servicing specialist salary over time
Compare loan servicing specialist salaries for individual cities or states with the national average.
- National Average
- Columbus, OH
Loan Servicing Specialist salary by year
| Year | Avg. Salary | Hourly Rate | % Change |
|---|---|---|---|
| 2025 | $65,800 | $31.63 | +1.8% |
| 2024 | $64,600 | $31.08 | +1.8% |
| 2023 | $63,400 | $30.50 | +2.1% |
| 2022 | $62,100 | $29.87 | +1.1% |
| 2021 | $61,400 | $29.54 | +2.4% |
Recently added loan servicing specialist salaries
| Company | Job | Location | Date Added | Salary |
|---|---|---|---|---|
| Cobank | Loan Servicing Specialist II | Greenwood Village, CO | 12/17/2024 | $51,942 |
| First American Financial | Default Loan Servicing Specialist (Remote) | Fort Mill, SC | 12/15/2024 | $43,201 |
| Arrow Financial Corporation | Loan Services Specialist-Glens Falls or Colonie | Albany, NY | 12/14/2024 | $39,653 |
| Glens Falls National Bank & Trust Company | Loan Services Specialist-Glens Falls or Colonie | Albany, NY | 12/14/2024 | $39,653 |
| Calculated Hire | Loan Servicing Specialist | Des Moines, IA | 12/14/2024 | $44,871 |
| First Interstate Bancsystem, Inc. | Specialty Loan Servicing Specialist II | Billings, MT | 12/13/2024 | $49,274 |
| First Interstate Bancsystem, Inc. | Specialty Loan Servicing Specialist II | Spokane, WA | 12/13/2024 | $49,274 |
| Jpmorgan Chase Bank, N.A | Loan Servicing Specialist IV | Chicago, IL | 12/13/2024 | $55,076 |
| Us Bank | Consumer Loan Servicing Specialist | Oshkosh, WI | 12/13/2024 | $41,740 |
| Department of Agriculture | Loan Servicing Specialist | Saint Louis, MO | 12/13/2024 | $74,299 |
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