Loan auditor vs mortgage processor

The differences between loan auditors 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 loan auditor and a mortgage processor. Additionally, a mortgage processor has an average salary of $40,527, 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 mortgage processor are customer service, FHA, and va.

Loan auditor vs mortgage processor overview

	Loan Auditor	Mortgage Processor
Yearly salary	$37,716	$40,527
Hourly rate	$18.13	$19.48
Growth rate	-3%	-3%
Number of jobs	26,869	9,057
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 52%
Average age	42	42
Years of experience	4	4

Loan auditor vs mortgage processor salary

Loan auditors and mortgage processors have different pay scales, as shown below.

	Loan Auditor	Mortgage Processor
Average salary	$37,716	$40,527
Salary range	Between $29,000 And $47,000	Between $31,000 And $52,000
Highest paying City	-	Phoenix, AZ
Highest paying state	-	Arizona
Best paying company	-	CyberCoders
Best paying industry	-	Professional

Differences between loan auditor and mortgage processor education

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

	Loan Auditor	Mortgage Processor
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan auditor vs mortgage processor demographics

Here are the differences between loan auditors' and mortgage processors' demographics:

	Loan Auditor	Mortgage Processor
Average age	42	42
Gender ratio	Male, 32.4% Female, 67.6%	Male, 24.2% Female, 75.8%
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, 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%

Differences between loan auditor and mortgage processor 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.

Mortgage processor example responsibilities.

Manage applicant s mortgage applications from origination to closing, ensuring service excellence and adhering to federal and compliance guidelines
Function in processing role for streamline first market mortgage transactions pursuant to Fannie, Freddie, VA and FHA policy guidelines.
Support FNMA portfolio loans in default and imminent default loans with a focus on loan modifications.
Work directly with FNMA counselors to negotiate mortgage terms for the homeowner that will prevent foreclosure.
Comply with bank, investor and regulatory guidelines while having a strong understanding of RESPA, HDMA, and ECOA guidelines.
Generate accurate RESPA require disclosures.

Loan auditor vs mortgage processor skills

Common loan auditor skills

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

Common mortgage processor skills

Customer Service, 24%
FHA, 6%
Va, 6%
Underwriting Guidelines, 6%
Property Appraisals, 6%
Origination, 5%