Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between loan review analysts and mortgage underwriters 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 underwriter. Additionally, a mortgage underwriter has an average salary of $55,721, which is higher than the $42,678 average annual salary of a loan review analyst.
The top three skills for a loan review analyst include financial statements, loan documentation and real estate. The most important skills for a mortgage underwriter are customer service, work ethic, and FHA.
| Loan Review Analyst | Mortgage Underwriter | |
| Yearly salary | $42,678 | $55,721 |
| Hourly rate | $20.52 | $26.79 |
| Growth rate | 4% | 4% |
| Number of jobs | 26,042 | 9,260 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 65% |
| 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 underwriter is responsible for reviewing mortgage loan applications and deciding on its approval or rejection by evaluating the submitted documents and the applicant's eligibility. Mortgage underwriters create assessment reports, research on the applicant's credit score, analyze potential loan risk, and request for additional documentation as needed. A mortgage underwriter must have extensive knowledge of the loan disciplines and processes, including its legislative procedures and regulations, to provide accurate decisions or discuss necessary findings to the loan officer for advice.
Loan review analysts and mortgage underwriters have different pay scales, as shown below.
| Loan Review Analyst | Mortgage Underwriter | |
| Average salary | $42,678 | $55,721 |
| Salary range | Between $25,000 And $72,000 | Between $38,000 And $80,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | New York, NY |
| Highest paying state | Washington | New Mexico |
| Best paying company | CFA Institute | CTBC Bank |
| Best paying industry | Finance | Professional |
There are a few differences between a loan review analyst and a mortgage underwriter in terms of educational background:
| Loan Review Analyst | Mortgage Underwriter | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and mortgage underwriters' demographics:
| Loan Review Analyst | Mortgage Underwriter | |
| Average age | 45 | 45 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 39.3% Female, 60.7% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |