Application processor vs loan assistant

The differences between application processors and loan assistants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an application processor and a loan assistant. Additionally, a loan assistant has an average salary of $36,962, which is higher than the $32,435 average annual salary of an application processor.

The top three skills for an application processor include data entry, loan applications and application processing. The most important skills for a loan assistant are customer service, loan applications, and mortgage loans.

Application processor vs loan assistant overview

	Application Processor	Loan Assistant
Yearly salary	$32,435	$36,962
Hourly rate	$15.59	$17.77
Growth rate	-3%	-3%
Number of jobs	20,859	8,923
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 51%
Average age	42	42
Years of experience	4	4

Application processor vs loan assistant salary

Application processors and loan assistants have different pay scales, as shown below.

	Application Processor	Loan Assistant
Average salary	$32,435	$36,962
Salary range	Between $27,000 And $38,000	Between $28,000 And $47,000
Highest paying City	Santa Rosa, CA	Olympia, WA
Highest paying state	West Virginia	Washington
Best paying company	PSECU	University of California, Berkeley
Best paying industry	Manufacturing	Finance

Differences between application processor and loan assistant education

There are a few differences between an application processor and a loan assistant in terms of educational background:

	Application Processor	Loan Assistant
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 51%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Application processor vs loan assistant demographics

Here are the differences between application processors' and loan assistants' demographics:

	Application Processor	Loan Assistant
Average age	42	42
Gender ratio	Male, 25.2% Female, 74.8%	Male, 18.2% Female, 81.8%
Race ratio	Black or African American, 13.6% Unknown, 4.3% Hispanic or Latino, 13.3% Asian, 7.2% White, 61.2% American Indian and Alaska Native, 0.4%	Black or African American, 12.2% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 7.4% White, 60.2% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between application processor and loan assistant duties and responsibilities

Application processor example responsibilities.

Manage a monthly pipeline averaging 100 files from origination to funding per month as a Jr. processor.
Execute the origination process, including ordering credit reports, appraisals and preliminary title reports.
Work in mailroom sorting mail by zip codes.
Maintain A/P, A/R, and report payroll.
Participate in specialty functions of all aspects of the mailroom.
Utilize PeopleSoft and OnBase programs to classify and index data.

Loan assistant example responsibilities.

Keep the ATM balance and fill.
General teller duties, responsible for balancing cash drawer, ATM, vault.
Background in commercial real estate lending, A/R lending, SBA, construction loans, and consumer lending.
Iprocess all NSF returns including and not limit to checks, ACH, chargebacks and all cash items.
Request and work with all SBA offices for loan documents as needed for disputes or proof of debt request.
Support streamlined document management for residential mortgage origination company.

Application processor vs loan assistant skills

Common application processor skills

Data Entry, 32%
Loan Applications, 9%
Application Processing, 8%
Medicaid, 6%
Customer Accounts, 5%
Origination, 4%

Common loan assistant skills

Customer Service, 19%
Loan Applications, 9%
Mortgage Loans, 7%
Financial Statements, 5%
Order Appraisals, 5%
Data Entry, 4%