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Farm loan representative vs mortgage consultant

The differences between farm loan representatives and mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a farm loan representative and a mortgage consultant. Additionally, a farm loan representative has an average salary of $44,638, which is higher than the $38,934 average annual salary of a mortgage consultant.

The top three skills for a farm loan representative include customer service, and . The most important skills for a mortgage consultant are customer service, origination, and NMLS.

Farm loan representative vs mortgage consultant overview

Farm Loan RepresentativeMortgage Consultant
Yearly salary$44,638$38,934
Hourly rate$21.46$18.72
Growth rate4%4%
Number of jobs23,79124,057
Job satisfaction--
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 67%
Average age4545
Years of experience66

Farm loan representative vs mortgage consultant salary

Farm loan representatives and mortgage consultants have different pay scales, as shown below.

Farm Loan RepresentativeMortgage Consultant
Average salary$44,638$38,934
Salary rangeBetween $27,000 And $72,000Between $23,000 And $63,000
Highest paying City-New York, NY
Highest paying state-New York
Best paying company-Centennial Bank
Best paying industry-Finance

Differences between farm loan representative and mortgage consultant education

There are a few differences between a farm loan representative and a mortgage consultant in terms of educational background:

Farm Loan RepresentativeMortgage Consultant
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeNorthwestern UniversityUniversity of Pennsylvania

Farm loan representative vs mortgage consultant demographics

Here are the differences between farm loan representatives' and mortgage consultants' demographics:

Farm Loan RepresentativeMortgage Consultant
Average age4545
Gender ratioMale, 34.4% Female, 65.6%Male, 58.2% Female, 41.8%
Race ratioBlack or African American, 9.4% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 4.8% White, 64.4% American Indian and Alaska Native, 0.5%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 Percentage8%8%

Differences between farm loan representative and mortgage consultant duties and responsibilities

Farm loan representative example responsibilities.

  • Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
  • Interview prospective lenders to for additional services; significantly expand company lender sources in both purchase and refinance markets.
  • Communicate to a small team basic loan restructuring possibilities to assist customers in resolving delinquency and avoiding foreclosure.

Mortgage consultant example responsibilities.

  • Coach new Jr. HMC's, lead team Jr. meetings and activities.
  • Manage a multifacete commercial real estate investment firm.
  • Well verse in FHA, VA, USDA loan programs and government regulations.
  • Originate secondary market mortgage loans, including FHA, VA, USDA, and conventional products.
  • Originate loans using conforming and non-conforming standards set forth by bank policy as well as FNMA, FHA, and VA.
  • Upgrade software and immediate access to FNMA automate underwriting allow a quicker response for customer approval.
  • Show more

Farm loan representative vs mortgage consultant skills

Common farm loan representative skills
  • Customer Service, 100%
Common mortgage consultant skills
  • Customer Service, 22%
  • Origination, 10%
  • NMLS, 8%
  • Financial Services, 7%
  • Loan Products, 5%
  • Bank Products, 4%

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