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The differences between loan review analysts and senior loan processors 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 senior loan processor. Additionally, a senior loan processor has an average salary of $50,297, 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 senior loan processor are customer service, FHA, and va.
| Loan Review Analyst | Senior Loan Processor | |
| Yearly salary | $42,678 | $50,297 |
| Hourly rate | $20.52 | $24.18 |
| Growth rate | 4% | 4% |
| Number of jobs | 26,042 | 21,995 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 50% |
| 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 senior loan processor works in a financial institution to solicit, negotiate, and coordinate consumers' and commercial loans. Old loan processors must review and verify loan documents and ensure that the required documents are complete and accurate. In the case of missing documentation, senior loan processors must communicate with customers to avoid loan approval delay. Old loan processors must also obtain a bachelor's degree in finance, business administration, or any other related field.
Loan review analysts and senior loan processors have different pay scales, as shown below.
| Loan Review Analyst | Senior Loan Processor | |
| Average salary | $42,678 | $50,297 |
| Salary range | Between $25,000 And $72,000 | Between $33,000 And $75,000 |
| Highest paying City | Parsippany-Troy Hills, NJ | Baltimore, MD |
| Highest paying state | Washington | Hawaii |
| Best paying company | CFA Institute | Accenture |
| Best paying industry | Finance | Professional |
There are a few differences between a loan review analyst and a senior loan processor in terms of educational background:
| Loan Review Analyst | Senior Loan Processor | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan review analysts' and senior loan processors' demographics:
| Loan Review Analyst | Senior Loan Processor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 37.7% Female, 62.3% | Male, 23.0% Female, 77.0% |
| 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, 9.1% Unknown, 4.6% Hispanic or Latino, 15.8% Asian, 6.3% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |