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The differences between junior processors and mortgage processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a junior processor and a mortgage processor. Additionally, a mortgage processor has an average salary of $40,527, which is higher than the $33,371 average annual salary of a junior processor.
The top three skills for a junior processor include mortgage loans, loan applications and appraisal orders. The most important skills for a mortgage processor are customer service, FHA, and va.
| Junior Processor | Mortgage Processor | |
| Yearly salary | $33,371 | $40,527 |
| Hourly rate | $16.04 | $19.48 |
| Growth rate | -3% | -3% |
| Number of jobs | 17,036 | 9,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 52% |
| Average age | 42 | 42 |
| Years of experience | 4 | 4 |
A junior processor is responsible for assessing a loan applicant's information to determine whether they are eligible to obtain a loan. This includes examining the assets submitted by the applicant, considering whether the loan is viable, and determining if the applicant is capable of paying. They also explain the terms and conditions set by the lending company. After assessment, they forward the loan applicant's details to the loan committee for appropriate action, which could be approval or disapproval.
A mortgage processor is responsible for reviewing mortgage loan applications, evaluating applicants' documents, and verifying their eligibility for approval. Mortgage processors consider the applicant's financial statements, credit score, and other possible mortgage options. They also interview loan applicants to confirm the accuracy of submitted documents and keep them updated with the progress and final decisions. A mortgage processor works closely with the underwriting department for loan applications subject for further review. The mortgage processor needs to have a broad knowledge of the banking industry and loan procedures to guide the applicants with their application inquiries and concerns.
Junior processors and mortgage processors have different pay scales, as shown below.
| Junior Processor | Mortgage Processor | |
| Average salary | $33,371 | $40,527 |
| Salary range | Between $26,000 And $41,000 | Between $31,000 And $52,000 |
| Highest paying City | - | Phoenix, AZ |
| Highest paying state | - | Arizona |
| Best paying company | - | CyberCoders |
| Best paying industry | - | Professional |
There are a few differences between a junior processor and a mortgage processor in terms of educational background:
| Junior Processor | Mortgage Processor | |
| Most common degree | Bachelor's Degree, 38% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior processors' and mortgage processors' demographics:
| Junior Processor | Mortgage Processor | |
| Average age | 42 | 42 |
| Gender ratio | Male, 19.1% Female, 80.9% | Male, 24.2% Female, 75.8% |
| Race ratio | Black or African American, 12.4% Unknown, 4.2% Hispanic or Latino, 18.5% Asian, 6.6% White, 57.9% American Indian and Alaska Native, 0.4% | Black or African American, 13.0% Unknown, 4.2% Hispanic or Latino, 14.1% Asian, 6.6% White, 61.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 7% | 7% |