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The differences between loan officers assistant and loan originators 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 originator. Additionally, a loan officer assistant has an average salary of $45,681, which is higher than the $41,291 average annual salary of a loan originator.
The top three skills for a loan officer assistant include customer service, origination and loan process. The most important skills for a loan originator are customer service, origination, and FHA.
| Loan Officer Assistant | Loan Originator | |
| Yearly salary | $45,681 | $41,291 |
| Hourly rate | $21.96 | $19.85 |
| Growth rate | 4% | 4% |
| Number of jobs | 65,094 | 10,716 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 61% |
| 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 Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
Loan officers assistant and loan originators have different pay scales, as shown below.
| Loan Officer Assistant | Loan Originator | |
| Average salary | $45,681 | $41,291 |
| Salary range | Between $28,000 And $72,000 | Between $28,000 And $60,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | South Dakota |
| Best paying company | Stifel Financial | Centennial Bank |
| Best paying industry | Finance | Transportation |
There are a few differences between a loan officer assistant and a loan originator in terms of educational background:
| Loan Officer Assistant | Loan Originator | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | SUNY at Binghamton | University of Pennsylvania |
Here are the differences between loan officers assistant' and loan originators' demographics:
| Loan Officer Assistant | Loan Originator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.8% Female, 71.2% | Male, 54.0% Female, 46.0% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |