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Farm loan representative vs senior loan officer

The differences between farm loan representatives and senior loan officers 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 senior loan officer. Additionally, a farm loan representative has an average salary of $44,638, which is higher than the $37,162 average annual salary of a senior loan officer.

The top three skills for a farm loan representative include customer service, and . The most important skills for a senior loan officer are customer service, loan applications, and origination.

Farm loan representative vs senior loan officer overview

Farm Loan RepresentativeSenior Loan Officer
Yearly salary$44,638$37,162
Hourly rate$21.46$17.87
Growth rate4%4%
Number of jobs23,79165,807
Job satisfaction--
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 66%
Average age4545
Years of experience66

Farm loan representative vs senior loan officer salary

Farm loan representatives and senior loan officers have different pay scales, as shown below.

Farm Loan RepresentativeSenior Loan Officer
Average salary$44,638$37,162
Salary rangeBetween $27,000 And $72,000Between $29,000 And $46,000
Highest paying City-Miami, FL
Highest paying state-Hawaii
Best paying company-Salal Credit Union
Best paying industry-Finance

Differences between farm loan representative and senior loan officer education

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

Farm Loan RepresentativeSenior Loan Officer
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 66%
Most common majorBusinessBusiness
Most common collegeNorthwestern UniversityUniversity of Pennsylvania

Farm loan representative vs senior loan officer demographics

Here are the differences between farm loan representatives' and senior loan officers' demographics:

Farm Loan RepresentativeSenior Loan Officer
Average age4545
Gender ratioMale, 34.4% Female, 65.6%Male, 69.4% Female, 30.6%
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, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between farm loan representative and senior loan officer 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.

Senior loan officer example responsibilities.

  • Oversee the loan origination process from inception to completion and initiate aggressive business growth opportunities in a highly competitive market.
  • Maintain close relationships with loan processors and problem-solve upcoming issues to ensure quality loan origination and minimize last-minute conditions of approval.
  • Prepare FNMA 1003 and RESPA documents.
  • Underwrite over 30 FNMA modification loans determining terms of trial and permanent modifications.
  • Utilize automated underwriting engines to assess credit and collateral risk conventional and FHA lending.
  • Establish communication with escrow officers, processors, loan officers and underwriter regarding loan status and/or missing information.
  • Show more

Farm loan representative vs senior loan officer skills

Common farm loan representative skills
  • Customer Service, 100%
Common senior loan officer skills
  • Customer Service, 15%
  • Loan Applications, 11%
  • Origination, 10%
  • Business Relationships, 5%
  • FHA, 5%
  • Va, 5%

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