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The differences between loan officers assistant and loan administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a loan officer assistant and a loan administrator. Additionally, a loan officer assistant has an average salary of $45,681, which is higher than the $42,859 average annual salary of a loan administrator.
The top three skills for a loan officer assistant include customer service, origination and loan process. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Loan Officer Assistant | Loan Administrator | |
| Yearly salary | $45,681 | $42,859 |
| Hourly rate | $21.96 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,094 | 63,708 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 58% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Loan officers assistant and loan administrators have different pay scales, as shown below.
| Loan Officer Assistant | Loan Administrator | |
| Average salary | $45,681 | $42,859 |
| Salary range | Between $28,000 And $72,000 | Between $31,000 And $59,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New York | Hawaii |
| Best paying company | Stifel Financial | BNY Mellon |
| Best paying industry | Finance | Finance |
There are a few differences between a loan officer assistant and a loan administrator in terms of educational background:
| Loan Officer Assistant | Loan Administrator | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | SUNY at Binghamton | University of Pennsylvania |
Here are the differences between loan officers assistant' and loan administrators' demographics:
| Loan Officer Assistant | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.8% Female, 71.2% | Male, 23.2% Female, 76.8% |
| Race ratio | Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% | 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 | 8% | 8% |