Loan auditor vs mortgage specialist

The differences between loan auditors and mortgage specialists 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 specialist. Additionally, a mortgage specialist has an average salary of $38,757, 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 specialist are customer service, residential mortgage loans, and origination.

Loan auditor vs mortgage specialist overview

	Loan Auditor	Mortgage Specialist
Yearly salary	$37,716	$38,757
Hourly rate	$18.13	$18.63
Growth rate	-3%	-3%
Number of jobs	26,869	26,471
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 55%
Average age	42	42
Years of experience	4	4

Loan auditor vs mortgage specialist salary

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

	Loan Auditor	Mortgage Specialist
Average salary	$37,716	$38,757
Salary range	Between $29,000 And $47,000	Between $29,000 And $51,000
Highest paying City	-	Oakland, CA
Highest paying state	-	Washington
Best paying company	-	Citi
Best paying industry	-	Finance

Differences between loan auditor and mortgage specialist education

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

	Loan Auditor	Mortgage Specialist
Most common degree	Bachelor's Degree, 58%	Bachelor's Degree, 55%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan auditor vs mortgage specialist demographics

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

	Loan Auditor	Mortgage Specialist
Average age	42	42
Gender ratio	Male, 32.4% Female, 67.6%	Male, 39.3% Female, 60.7%
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, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4%
LGBT Percentage	7%	7%

Differences between loan auditor and mortgage specialist 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 specialist example responsibilities.

Manage internal team SharePoint and document repository.
Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
Work due diligence and process loans per FHLMC guidelines on conventional, USDA, FHA/VA and CHFA/DAP loans.
Advise clients with mortgage needs by providing information regarding traditional and government programs, including USVA, FHA and VA loans.
Review HUD-1's to confirm fees and charges with initial GFE and RESPA compliance, order wire and provide funding approval.
Maintain a working knowledge of FDCPA and RESPA guidelines.

Loan auditor vs mortgage specialist skills

Common loan auditor skills

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

Common mortgage specialist skills

Customer Service, 22%
Residential Mortgage Loans, 6%
Origination, 6%
FHA, 5%
Va, 5%
Loan Applications, 4%