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The differences between loan review analysts and mortgage bankers 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 review analyst and a mortgage banker. Additionally, a loan review analyst has an average salary of $42,678, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a loan review analyst include financial statements, loan documentation and real estate. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Loan Review Analyst | Mortgage Banker | |
| Yearly salary | $42,678 | $27,331 |
| Hourly rate | $20.52 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 26,042 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 72% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A loan review analyst is a person who evaluates all credit documents and information needed. They are responsible for gaining approval and maintaining compliance under the credit or loan guidelines. A loan revies analyst prepares needed loan reports with the necessary information for approval and decision making. Furthermore, they are the ones who are assessing credit structures. Often, this career is for someone who has experience in credit analysis and assessment.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Loan review analysts and mortgage bankers have different pay scales, as shown below.
| Loan Review Analyst | Mortgage Banker | |
| Average salary | $42,678 | $27,331 |
| Salary range | Between $25,000 And $72,000 | Between $9,000 And $78,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | - |
| Highest paying state | Washington | - |
| Best paying company | CFA Institute | - |
| Best paying industry | Finance | - |
There are a few differences between a loan review analyst and a mortgage banker in terms of educational background:
| Loan Review Analyst | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and mortgage bankers' demographics:
| Loan Review Analyst | Mortgage Banker | |
| Average age | 45 | 45 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 71.7% Female, 28.3% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |