Credit administrator vs consumer loan underwriter

The differences between credit administrators and consumer loan underwriters can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a credit administrator, becoming a consumer loan underwriter takes usually requires 4-6 years. Additionally, a credit administrator has an average salary of $59,271, which is higher than the $53,525 average annual salary of a consumer loan underwriter.

The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a consumer loan underwriter are financial statements, loan applications, and strong analytical.

Credit administrator vs consumer loan underwriter overview

	Credit Administrator	Consumer Loan Underwriter
Yearly salary	$59,271	$53,525
Hourly rate	$28.50	$25.73
Growth rate	-8%	4%
Number of jobs	55,726	17,495
Job satisfaction	2	-
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 66%
Average age	39	45
Years of experience	2	6

What does a credit administrator do?

A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.

What does a consumer loan underwriter do?

A consumer loan underwriter, or often known as a loan officer, is a financial professional who works at a credit union or other financial institution to approve or disapprove loans to clients. Consumer loan underwriters must review and verify the information provided by loan applicants and then decide on approving or denying a loan according to the policies of the institution. They must determine maximum loss potential by identifying all loans that are associated with a borrower where fraud may have occurred. Consumer loan underwriters must also demonstrate experience in underwriting conventional and FHA loans.

Credit administrator vs consumer loan underwriter salary

Credit administrators and consumer loan underwriters have different pay scales, as shown below.

	Credit Administrator	Consumer Loan Underwriter
Average salary	$59,271	$53,525
Salary range	Between $33,000 And $106,000	Between $37,000 And $76,000
Highest paying City	New York, NY	New York, NY
Highest paying state	New York	New York
Best paying company	BNY Mellon	Marcus & Millichap
Best paying industry	-	Finance

Differences between credit administrator and consumer loan underwriter education

There are a few differences between a credit administrator and a consumer loan underwriter in terms of educational background:

	Credit Administrator	Consumer Loan Underwriter
Most common degree	Bachelor's Degree, 63%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Credit administrator vs consumer loan underwriter demographics

Here are the differences between credit administrators' and consumer loan underwriters' demographics:

	Credit Administrator	Consumer Loan Underwriter
Average age	39	45
Gender ratio	Male, 28.4% Female, 71.6%	Male, 42.6% Female, 57.4%
Race ratio	Black or African American, 8.1% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 9.4% White, 69.5% American Indian and Alaska Native, 0.3%	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.5% American Indian and Alaska Native, 0.5%
LGBT Percentage	11%	8%

Differences between credit administrator and consumer loan underwriter duties and responsibilities

Credit administrator example responsibilities.

Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
Utilize computer software including QuickBooks to maintain account activity and ensure accuracy; reconcile inaccuracies between invoices and accounts receivable payments.
Utilize computer software including QuickBooks to maintain account activity and ensure accuracy; reconcile inaccuracies between invoices and accounts receivable payments.

Consumer loan underwriter example responsibilities.

Ensure proper coding are accomplished by determining the appropriate code in accordance with ICD-9 and CPT guidelines.
Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
Manage a pipeline of fund TRID loans for completeness so they can be deliver and purchase by the required investor.
Manage the organization's HMDA data and accurately complete the government reporting annually.
Render underwritten decisions and subsequently clear conditions per underwriting policies and procedures, including knowledge of FNMA and FMLMC guidelines.
Generate and distribute IRB committee meeting minutes in accordance with appropriate federal regulations.

Credit administrator vs consumer loan underwriter skills

Common credit administrator skills

Financial Statements, 6%
Credit Card Payments, 6%
Real Estate, 5%
Customer Service, 5%
Loan Portfolio, 5%
Credit Policy, 4%

Common consumer loan underwriter skills

Financial Statements, 12%
Loan Applications, 11%
Strong Analytical, 8%
Credit Reports, 7%
Credit Decisions, 6%
Compliance Reviews, 4%

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Credit Administrator
Credit Administrator vs Consumer Loan Underwriter

Updated January 8, 2025

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