As of March 01, 2025, the average annual salary for a Loan Servicing Specialist III - Consumer Loans in Virginia Beach, VA is $49,840. According to Salary.com, salaries can range from a low of $38,110 to a high of $64,398, with most professionals earning between $43,700 and $57,460.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $57,460 | $4,788 | $1,105 | $28 |
| Average | $49,840 | $4,153 | $958 | $24 |
| 25th Percentile | $43,700 | $3,642 | $840 | $21 |
An entry-level Loan Servicing Specialist III - Consumer Loans with under 1 year experience makes about $46,486. With less than 2 years of experience, a mid-level Loan Servicing Specialist III - Consumer Loans makes around $46,938. After 2-4 years, the Loan Servicing Specialist III - Consumer Loans pay rises to about $47,841. Those senior Loan Servicing Specialist III - Consumer Loans with 5-8 years of experience earn roughly $51,445, and those Loan Servicing Specialist III - Consumer Loans having 8 years or more experience are expected to earn about $53,468 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Servicing Specialist III - Consumer Loans | $46,486 |
| Intermediate Level Loan Servicing Specialist III - Consumer Loans | $46,938 |
| Senior Level Loan Servicing Specialist III - Consumer Loans | $47,841 |
| Specialist Level Loan Servicing Specialist III - Consumer Loans | $51,445 |
| Expert Level Loan Servicing Specialist III - Consumer Loans | $53,468 |
| Entry Level | 7% |
| Mid Level | 6% |
| Senior Level | 4% |
| Top Level | 3% |
| Experienced | 7% |
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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.
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.
General Ledger: Creating and keeping track of business transactions and activities to monitor financial operations.
Loan Review: Loan review is a process routinely used by banks to assess the current value of loan portfolios. Provisioning is a technique to translate loan review results into the balance sheet.
| Skill | Salary | Demand |
|---|---|---|
|
Process Improvement
|
$63,795 |
28%
|
|
Analytical Skills
|
$62,798 |
26%
|
|
Leadership
|
$57,316 |
15%
|
|
Accountability
|
$56,818 |
14%
|
|
Payment Processing
|
$56,818 |
14%
|
|
Flexibility
|
$55,322 |
11%
|
