How much does a Retail Mortgage Banker make in the United States?
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The average Retail Mortgage Banker salary in the United States is $61,516 as of August 27, 2023. The range for our most popular Retail Mortgage Banker positions (listed below) typically falls between $52,033 and $70,998. Keep in mind that salary ranges can vary widely depending on many important factors, including position, education, certifications, additional skills, and the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Retail Mortgage Banker's Annual Base Salary
| Job Title | Salary | Hourly Rate | Location | Date Updated |
| Mortgage Banker | $58,824 | $28.28 | United States | August 27, 2023 |
| Retail Banker | $39,246 | $18.87 | United States | August 27, 2023 |
| Private Mortgage Banker | $69,799 | $33.56 | United States | August 27, 2023 |
| Mortgage Banker Assistant | $0 | $0.00 | United States | August 27, 2023 |
| Senior Mortgage Banker | $0 | $0.00 | United States | August 27, 2023 |
| Executive Mortgage Banker | $0 | $0.00 | United States | August 27, 2023 |
| Junior Mortgage Banker | $0 | $0.00 | United States | August 27, 2023 |
| Retail Relationship Banker | $0 | $0.00 | United States | August 27, 2023 |
| Retail Personal Banker | $0 | $0.00 | United States | August 27, 2023 |
| Banker | $56,342 | $27.09 | United States | August 27, 2023 |
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Mortgage bank is a bank that specializes in originating and/or servicing mortgage loans. In the US a mortgage bank is a state-licensed banking entity that makes mortgage loans directly to consumers. The difference between a mortgage banker and a mortgage broker is that the mortgage banker funds loans with its own capital. Generally, a mortgage bank originates a loan and places it on a pre-established warehouse line of credit until the loan can be sold to an investor, which are typically large institutions. The credit risk is typically absorbed by the Agencies, which include Fannie Mae, or Freddie Mac, and Ginnie Mae. The process of selling a loan from the mortgage bank to another investor is referred to as selling the loan on the secondary market. This is in contrast to the primary market, which for mortgages typically refers to the bank buying the mortgage deed of trust from the homeowner for the face amount of the loan, adjusted for discount points and other price adjustments. View Mortgage Banker Salary