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The differences between branch lending officers and mortgage bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a branch lending officer and a mortgage banker. Additionally, a branch lending officer has an average salary of $46,615, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a branch lending officer include business relationships, origination and FHA. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Branch Lending Officer | Mortgage Banker | |
| Yearly salary | $46,615 | $27,331 |
| Hourly rate | $22.41 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 70,689 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 72% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A branch lending officer is typically in charge of processing loan applications, ensuring accuracy and smooth workflow. Their responsibilities revolve around liaising with clients to identify their needs, conducting interviews and assessments, gathering and reviewing requirements, and coordinating with analysts and other staff. They may also perform clerical tasks such as answering calls and correspondence, arranging appointments, and maintaining records of all transactions. Furthermore, as a branch lending officer, it is essential to provide efficient customer service, all while adhering to the company's policies and regulations, including its vision and mission.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Branch lending officers and mortgage bankers have different pay scales, as shown below.
| Branch Lending Officer | Mortgage Banker | |
| Average salary | $46,615 | $27,331 |
| Salary range | Between $29,000 And $73,000 | Between $9,000 And $78,000 |
| Highest paying City | Saint Cloud, MN | - |
| Highest paying state | New Mexico | - |
| Best paying company | Citi | - |
| Best paying industry | Finance | - |
There are a few differences between a branch lending officer and a mortgage banker in terms of educational background:
| Branch Lending Officer | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between branch lending officers' and mortgage bankers' demographics:
| Branch Lending Officer | Mortgage Banker | |
| Average age | 45 | 45 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 71.7% Female, 28.3% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |