Mortgage Loan Closer Salary at Texas Bay Credit Union BETA

How much does a Texas Bay Credit Union Mortgage Loan Closer make?

As of March 2025, the average annual salary for a Mortgage Loan Closer at Texas Bay Credit Union is $51,548, which translates to approximately $25 per hour. Salaries for Mortgage Loan Closer at Texas Bay Credit Union typically range from $45,635 to $57,622, 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.

Texas Bay Credit Union Overview

Website:
texasbaycu.org
Size:
50 - 100 Employees
Revenue:
$10M - $50M
Industry:
Financial Services

Texas Bay Credit Union was established on May 12, 1936, as Houston Sinclair Refinery Employees' Credit Union. The credit union serves their members by using their net earnings for lower interest rates, higher dividends on deposits, low fees, along with offering many products and services such as credit cards, loans, checking, savings options, and e-banking services for both personal and commercial needs. Texas Bay succeeds by preserving a secure financial position, increasing membership growth, and maintaining high member satisfaction.

See similar companies related to Texas Bay Credit Union

What Skills Does a person Need at Texas Bay Credit Union?

At Texas Bay Credit Union, 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.

  1. Mortgage Loans: A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
  2. 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.
  3. Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
  4. Commitment: An agreement or pledge to do something in the future a commitment to improve conditions at the prison especially : an engagement to assume a financial obligation at a future date.
  5. Written Communication: Communicating information through written media to educate, inform and influence the target audience.

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Check more jobs information at Texas Bay Credit Union

Job Title Average Texas Bay Credit Union Salary Hourly Rate
2 Teller $32,505 $16
3 Teller and Financial Service Representative $32,505 $16
4 Training Coordinator $50,597 $24
5 Branch Manager $66,619 $32
6 Branch Manager MLO 1218242 $66,619 $32
7 Branch Representative $46,892 $23
8 Call Center Representative $42,958 $21
9 HR Specialist $68,448 $33
10 Indirect Loan Processor $41,345 $20
11 Management Information Systems Administrator $67,790 $33
12 Support Specialist $51,981 $25
13 Board Member $88,893 $43

Hourly Pay at Texas Bay Credit Union

The average hourly pay at Texas Bay Credit Union for a Mortgage Loan Closer is $25 per hour. The location, department, and job description all have an impact on the typical compensation for Texas Bay Credit Union positions. The pay range and total remuneration for the job title are shown in the table below. Texas Bay Credit Union may pay a varying wage for a given position based on experience, talents, and education.
How accurate does $51,548 look to you?

FAQ about Salary and Jobs at Texas Bay Credit Union

1. How much does Texas Bay Credit Union pay per hour?
The average hourly pay is $25. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
2. What is the highest salary at Texas Bay Credit Union?
According to the data, the highest approximate salary is about $57,622 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
3. What is the lowest pay at Texas Bay Credit Union?
According to the data, the lowest estimated salary is about $45,635 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
4. What steps can an employee take to increase their salary?
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.