Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between loan originators 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 originator and a loan administrator. Additionally, a loan administrator has an average salary of $42,859, which is higher than the $41,291 average annual salary of a loan originator.
The top three skills for a loan originator include customer service, origination and FHA. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Loan Originator | Loan Administrator | |
| Yearly salary | $41,291 | $42,859 |
| Hourly rate | $19.85 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 10,716 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 58% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
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.
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 originators and loan administrators have different pay scales, as shown below.
| Loan Originator | Loan Administrator | |
| Average salary | $41,291 | $42,859 |
| Salary range | Between $28,000 And $60,000 | Between $31,000 And $59,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | South Dakota | Hawaii |
| Best paying company | Centennial Bank | BNY Mellon |
| Best paying industry | Transportation | Finance |
There are a few differences between a loan originator and a loan administrator in terms of educational background:
| Loan Originator | Loan Administrator | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan originators' and loan administrators' demographics:
| Loan Originator | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 23.2% Female, 76.8% |
| Race ratio | 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% | 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% |