Loan auditor vs loan administrator

The differences between loan auditors and loan administrators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan auditor, becoming a loan administrator takes usually requires 4-6 years. Additionally, a loan administrator has an average salary of $42,859, which is higher than the $37,716 average annual salary of a loan auditor.

The top three skills for a loan auditor include audit findings, FHA and va. The most important skills for a loan administrator are customer service, data entry, and loan administration.

Loan auditor vs loan administrator overview

	Loan Auditor	Loan Administrator
Yearly salary	$37,716	$42,859
Hourly rate	$18.13	$20.61
Growth rate	-3%	4%
Number of jobs	26,869	63,708
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 58%
Average age	42	45
Years of experience	4	6

Loan auditor vs loan administrator salary

Loan auditors and loan administrators have different pay scales, as shown below.

	Loan Auditor	Loan Administrator
Average salary	$37,716	$42,859
Salary range	Between $29,000 And $47,000	Between $31,000 And $59,000
Highest paying City	-	Seattle, WA
Highest paying state	-	Hawaii
Best paying company	-	BNY Mellon
Best paying industry	-	Finance

Differences between loan auditor and loan administrator education

There are a few differences between a loan auditor and a loan administrator in terms of educational background:

	Loan Auditor	Loan Administrator
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 58%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan auditor vs loan administrator demographics

Here are the differences between loan auditors' and loan administrators' demographics:

	Loan Auditor	Loan Administrator
Average age	42	45
Gender ratio	Male, 32.4% Female, 67.6%	Male, 23.2% Female, 76.8%
Race ratio	Black or African American, 12.8% Unknown, 4.3% Hispanic or Latino, 16.7% Asian, 6.7% White, 59.1% American Indian and Alaska Native, 0.4%	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	8%

Differences between loan auditor and loan administrator duties and responsibilities

Loan auditor example responsibilities.

Manage the organization's HMDA data and accurately complete the government reporting annually.
Research and respond to questions from FHA, VA and conventional loan lenders.
Review the HUD-1 settlement statement RESPA disclosures are properly execute with the settlement and disbursement dates, and fees is correct.
Review the VA loan analysis against the system for accuracy.
Work on FHA deals that require in-depth knowledge of special guidelines.
Produce accurately audit loan package properly identifying loan defects, paying particular attention to RESPA, HUD & GFE guidelines.

Loan administrator example responsibilities.

Manage a multifacete commercial real estate investment firm.
Pull OFAC on all borrowers.
Order third party reports such as appraisals, titles, and OFAC information.
Order on FHA loans in a timely and efficient manner to meet month end deadlines.
Present and sell financial benefits of a variety of FHA, VA, and conventional loans.
Coordinate and maintain loans for adherence to credit policy as well as guidelines in keeping compliant with SBA regulations.

Loan auditor vs loan administrator skills

Common loan auditor skills

Audit Findings, 28%
FHA, 6%
Va, 6%
Real Estate, 5%
State Regulations, 4%
Federal Regulations, 4%

Common loan administrator skills

Customer Service, 14%
Data Entry, 5%
Loan Administration, 5%
Loan Processing, 5%
Financial Statements, 4%
Due Diligence, 4%