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The differences between credit administrators and mortgage bankers 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 mortgage banker takes usually requires 4-6 years. Additionally, a credit administrator has an average salary of $59,271, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Credit Administrator | Mortgage Banker | |
| Yearly salary | $59,271 | $27,331 |
| Hourly rate | $28.50 | $13.14 |
| Growth rate | -8% | 4% |
| Number of jobs | 55,726 | 24,297 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 72% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
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.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Credit administrators and mortgage bankers have different pay scales, as shown below.
| Credit Administrator | Mortgage Banker | |
| Average salary | $59,271 | $27,331 |
| Salary range | Between $33,000 And $106,000 | Between $9,000 And $78,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | BNY Mellon | - |
| Best paying industry | - | - |
There are a few differences between a credit administrator and a mortgage banker in terms of educational background:
| Credit Administrator | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and mortgage bankers' demographics:
| Credit Administrator | Mortgage Banker | |
| Average age | 39 | 45 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 71.7% Female, 28.3% |
| 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, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |