Payoff Specialist Salary at Towne Mortgage Co BETA

How much does a Towne Mortgage Co Payoff Specialist make?

As of April 2025, the average annual salary for a Payoff Specialist at Towne Mortgage Co is $44,676, which translates to approximately $21 per hour. Salaries for Payoff Specialist at Towne Mortgage Co typically range from $40,166 to $49,443, 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.

Towne Mortgage Co Overview

Website:
townemortgage.com
Size:
200 - 500 Employees
Revenue:
$50M - $200M
Industry:
MFG Nondurable

The Towne Mortgage Family of Companies is a full-service mortgage lender. The company was founded in 1982 and is currently headquartered in Troy, MI.

See similar companies related to Towne Mortgage Co

What Skills Does a person Need at Towne Mortgage Co?

At Towne Mortgage Co, 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. Commercial Loans: A commercial loan is a debt-based funding arrangement between a business and a financial institution such as a bank. It is typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford.
  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. Loan Processing: The steps taken by an institution lender from the time a request for a loan application is received to the time the loan is approved or denied, including taking the application, credit investigation, evaluation of the loan and other steps.
  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. Problem Solving: Analyzing and identifying the root cause of problems and applying critical thinking skills to solve problems.

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Check more jobs information at Towne Mortgage Co

Job Title Average Towne Mortgage Co Salary Hourly Rate
2 Business Support Specialist $119,684 $58
3 Collector $43,625 $21
4 Compliance Officer $91,396 $44
5 Compliance Specialist $108,221 $52
6 Director of Wholesale $161,782 $78
7 Director, Business Development $200,958 $97
8 Financial Analyst $64,790 $31
9 Foreclosure Specialist $47,609 $23
10 Lending Manager $98,794 $47
11 Manager, Construction Lending $163,368 $79
12 Mortgage Loan Originator $48,093 $23
13 Mortgage Loan Processor $43,386 $21

Hourly Pay at Towne Mortgage Co

The average hourly pay at Towne Mortgage Co for a Payoff Specialist is $21 per hour. The location, department, and job description all have an impact on the typical compensation for Towne Mortgage Co positions. The pay range and total remuneration for the job title are shown in the table below. Towne Mortgage Co may pay a varying wage for a given position based on experience, talents, and education.
How accurate does $44,676 look to you?

FAQ about Salary and Jobs at Towne Mortgage Co

1. How much does Towne Mortgage Co pay per hour?
The average hourly pay is $21. 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 Towne Mortgage Co?
According to the data, the highest approximate salary is about $49,443 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 Towne Mortgage Co?
According to the data, the lowest estimated salary is about $40,166 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.