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Loan review analyst vs mortgage consultant

The differences between loan review analysts and mortgage consultants 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 consultant. Additionally, a loan review analyst has an average salary of $42,678, which is higher than the $38,934 average annual salary of a mortgage consultant.

The top three skills for a loan review analyst include financial statements, loan documentation and real estate. The most important skills for a mortgage consultant are customer service, origination, and NMLS.

Loan review analyst vs mortgage consultant overview

Loan Review AnalystMortgage Consultant
Yearly salary$42,678$38,934
Hourly rate$20.52$18.72
Growth rate4%4%
Number of jobs26,04224,057
Job satisfaction--
Most common degreeBachelor's Degree, 60%Bachelor's Degree, 67%
Average age4545
Years of experience66

What does a loan review analyst do?

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.

What does a mortgage consultant do?

A mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.

Loan review analyst vs mortgage consultant salary

Loan review analysts and mortgage consultants have different pay scales, as shown below.

Loan Review AnalystMortgage Consultant
Average salary$42,678$38,934
Salary rangeBetween $25,000 And $72,000Between $23,000 And $63,000
Highest paying CityParsippany-Troy Hills, NJNew York, NY
Highest paying stateWashingtonNew York
Best paying companyCFA InstituteCentennial Bank
Best paying industryFinanceFinance

Differences between loan review analyst and mortgage consultant education

There are a few differences between a loan review analyst and a mortgage consultant in terms of educational background:

Loan Review AnalystMortgage Consultant
Most common degreeBachelor's Degree, 60%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Loan review analyst vs mortgage consultant demographics

Here are the differences between loan review analysts' and mortgage consultants' demographics:

Loan Review AnalystMortgage Consultant
Average age4545
Gender ratioMale, 37.7% Female, 62.3%Male, 58.2% Female, 41.8%
Race ratioBlack 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between loan review analyst and mortgage consultant duties and responsibilities

Loan review analyst example responsibilities.

  • Manage a pipeline of fund TRID loans for completeness so they can be deliver and purchase by the required investor.
  • Approve or deny files according to FHA by origination underwriter guidelines.
  • Perform full and partial post-closing audits and reviews on conforming, non- conforming loans sell to FNMA, FHLMC and FHA.
  • Work closely with attorneys on daily basis to discuss need documents and possible mitigation or litigation strategies on foreclosure and bankruptcy matters
  • Evaluate consumer mortgages in accordance with USDA procedures and guidelines.
  • Analyze borrower credit profile using USDA's GUS system and manual underwrite process.
  • Show more

Mortgage consultant example responsibilities.

  • Coach new Jr. HMC's, lead team Jr. meetings and activities.
  • Manage a multifacete commercial real estate investment firm.
  • Well verse in FHA, VA, USDA loan programs and government regulations.
  • Originate secondary market mortgage loans, including FHA, VA, USDA, and conventional products.
  • Originate loans using conforming and non-conforming standards set forth by bank policy as well as FNMA, FHA, and VA.
  • Upgrade software and immediate access to FNMA automate underwriting allow a quicker response for customer approval.
  • Show more

Loan review analyst vs mortgage consultant skills

Common loan review analyst skills
  • Financial Statements, 9%
  • Loan Documentation, 9%
  • Real Estate, 6%
  • Loan Portfolio, 6%
  • Investor Guidelines, 6%
  • Audit Findings, 4%
Common mortgage consultant skills
  • Customer Service, 22%
  • Origination, 10%
  • NMLS, 8%
  • Financial Services, 7%
  • Loan Products, 5%
  • Bank Products, 4%

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