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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 | Mortgage Consultant | |
| Yearly salary | $42,678 | $38,934 |
| Hourly rate | $20.52 | $18.72 |
| Growth rate | 4% | 4% |
| Number of jobs | 26,042 | 24,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 67% |
| 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 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 analysts and mortgage consultants have different pay scales, as shown below.
| Loan Review Analyst | Mortgage Consultant | |
| Average salary | $42,678 | $38,934 |
| Salary range | Between $25,000 And $72,000 | Between $23,000 And $63,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | CFA Institute | Centennial Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a loan review analyst and a mortgage consultant in terms of educational background:
| Loan Review Analyst | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and mortgage consultants' demographics:
| Loan Review Analyst | Mortgage Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 58.2% Female, 41.8% |
| 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |