Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between credit administrators and mortgage consultants 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 consultant takes usually requires 4-6 years. Additionally, a credit administrator has an average salary of $59,271, which is higher than the $38,934 average annual salary of a mortgage consultant.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Credit Administrator | Mortgage Consultant | |
| Yearly salary | $59,271 | $38,934 |
| Hourly rate | $28.50 | $18.72 |
| Growth rate | -8% | 4% |
| Number of jobs | 55,726 | 24,057 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| 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 consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Credit administrators and mortgage consultants have different pay scales, as shown below.
| Credit Administrator | Mortgage Consultant | |
| Average salary | $59,271 | $38,934 |
| Salary range | Between $33,000 And $106,000 | Between $23,000 And $63,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | BNY Mellon | Centennial Bank |
| Best paying industry | - | Finance |
There are a few differences between a credit administrator and a mortgage consultant in terms of educational background:
| Credit Administrator | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and mortgage consultants' demographics:
| Credit Administrator | Mortgage Consultant | |
| Average age | 39 | 45 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 58.2% Female, 41.8% |
| 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |