Loan Servicing Associate Salary at Forbright Bank BETA
How much does a Forbright Bank Loan Servicing Associate make?
As of April 2025, the average annual salary for a Loan Servicing Associate at Forbright Bank is $40,689, which translates to approximately $20 per hour. Salaries for Loan Servicing Associate at Forbright Bank typically range from $36,287 to $45,032, reflecting the diverse roles within the company.
It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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What Skills Does a person Need at Forbright Bank?
At Forbright Bank, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
- Loan Servicing: Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. The vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA)). Because GSEs and private loan investors typically do not service the mortgage loans that they purchase, the bank who sells the mortgage will generally retain the right to service the mortgage pursuant to a master servicing agreement. The payments collected by the mortgage servicer are remitted to various parties; distributions typically include paying taxes and insurance from escrowed funds, remitting principal and interest payments to investors holding mortgage-backed securities (or other types of instruments backed by pools of mortgage loans), and remitting fees to mortgage guarantors, trustees, and other third parties providing services. The level of service varies depending on the type of loan and the terms negotiated between the servicer and the investor seeking their services, and may also include activities such as monitoring delinquencies, workouts/ restructurings and executing foreclosures.
- Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
- Consumer Loans: a consumer loan is any type of loan made to a consumer by a creditor. The loan can be secured (backed by the assets of the borrower) or unsecured (not backed by the assets of the borrower).
- Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
- Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.
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Check more jobs information at Forbright Bank
| Job Title | Average Forbright Bank Salary | Hourly Rate | |
|---|---|---|---|
| 2 | Account Manager | $77,212 | $37 |
| 3 | Assistant Vice President | $61,260 | $29 |
| 4 | Bank Teller | $34,702 | $17 |
| 5 | Branch Manager, Retail | $61,117 | $29 |
| 6 | BSA and AML Analyst | $99,444 | $48 |
| 7 | Commercial Loan Officer | $69,080 | $33 |
| 8 | Community Manager | $109,017 | $52 |
| 9 | Credit Analyst | $65,410 | $31 |
| 10 | HR Executive | $73,074 | $35 |
| 11 | Junior Systems Administrator | $85,734 | $41 |
| 12 | Loan Administrator | $40,323 | $19 |
| 13 | Loan Servicer | $40,689 | $20 |
Hourly Pay at Forbright Bank
FAQ about Salary and Jobs at Forbright Bank
The average hourly pay is $20. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
According to the data, the highest approximate salary is about $45,032 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
According to the data, the lowest estimated salary is about $36,287 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.