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.
Loan review analyst responsibilities
Here are examples of responsibilities from real loan review analyst resumes:
- 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.
- Validate all parties involve in the loan transaction have been check against OFAC and FHLMC exclusionary list databases.
- Review AUS findings and obtain necessary documentation.
- Process trailing documents for initial and final GNMA certifications.
Loan review analyst skills and personality traits
We calculated that 9% of Loan Review Analysts are proficient in Financial Statements, Loan Documentation, and Real Estate. They’re also known for soft skills such as Detail oriented, Initiative, and Interpersonal skills.
We break down the percentage of Loan Review Analysts that have these skills listed on their resume here:
- Financial Statements, 9%
Reviewed financial statements of commercial loan customers, prepared reports summarizing findings, and communicated with lenders.
- Loan Documentation, 9%
Examine residential loan documentation for accuracy, completeness, and compliance with appropriate company and secondary market investor standards.
- Real Estate, 6%
Reviewed real estate collateral requirements and appraisals which encompassed consumer and residential loan portfolio underwriting.
- Loan Portfolio, 6%
Performed review of commercial loan portfolio for credit quality, accuracy of documentation and regulation compliance.
- Investor Guidelines, 6%
Review performing and non-performing mortgage notes to determine origination and servicing compliance with investor guidelines throughout the servicing period.
- Audit Findings, 4%
Research data as required and report audit findings and recommendations to underwriting.
"financial statements," "loan documentation," and "real estate" are among the most common skills that loan review analysts use at work. You can find even more loan review analyst responsibilities below, including:
Detail oriented. To carry out their duties, the most important skill for a loan review analyst to have is detail oriented. Their role and responsibilities require that "information on an application affects the potential profitability of a loan, so loan officers must pay attention to details." Loan review analysts often use detail oriented in their day-to-day job, as shown by this real resume: "assessed repayment capacity of borrowers/guarantors through detailed credit analysis. "
Initiative. Many loan review analyst duties rely on initiative. "loan officers may act as salespeople in promoting their lending institution, so they must contact people and businesses to determine their need for a loan.," so a loan review analyst will need this skill often in their role. This resume example is just one of many ways loan review analyst responsibilities rely on initiative: "provide project management assistance for loan administration initiatives. "
Interpersonal skills. This is an important skill for loan review analysts to perform their duties. For an example of how loan review analyst responsibilities depend on this skill, consider that "loan officers must be able to guide customers through the application process and answer their questions." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a loan review analyst: "access interpersonal communications interpretation and application of lending documentation, credit reports and income and asset calculations. ".
The three companies that hire the most loan review analysts are:
- Deloitte40 loan review analysts jobs
- Prosperity Bank5 loan review analysts jobs
- First Mid Bank & Trust2 loan review analysts jobs
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Compare different loan review analysts
Loan review analyst vs. Closer
The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
These skill sets are where the common ground ends though. The responsibilities of a loan review analyst are more likely to require skills like "financial statements," "loan documentation," "real estate," and "loan portfolio." On the other hand, a job as a closer requires skills like "customer service," "cleanliness," "punctuality," and "dependability." As you can see, what employees do in each career varies considerably.
On average, closers reach lower levels of education than loan review analysts. Closers are 6.6% less likely to earn a Master's Degree and 0.5% less likely to graduate with a Doctoral Degree.Loan review analyst vs. Escrow officer
Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller. They verify the document of land ownership, checking property title, and consulting with potential buyers, sellers, and lending firms. It is also their responsibility to handle the deposition of funds and processing of legal documents, including paperwork to finalize the transaction.
Each career also uses different skills, according to real loan review analyst resumes. While loan review analyst responsibilities can utilize skills like "financial statements," "loan documentation," "real estate," and "loan portfolio," escrow officers use skills like "customer service," "hoa," "title insurance," and "notary."
On average, escrow officers earn a higher salary than loan review analysts. Some industries support higher salaries in each profession. Interestingly enough, escrow officers earn the most pay in the finance industry with an average salary of $56,019. Whereas loan review analysts have higher pay in the finance industry, with an average salary of $46,560.In general, escrow officers achieve lower levels of education than loan review analysts. They're 6.8% less likely to obtain a Master's Degree while being 0.5% more likely to earn a Doctoral Degree.Loan review analyst vs. Mortgage consultant
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.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a loan review analyst is likely to be skilled in "financial statements," "loan documentation," "real estate," and "loan portfolio," while a typical mortgage consultant is skilled in "customer service," "origination," "nmls," and "financial services."
Mortgage consultants earn the best pay in the finance industry, where they command an average salary of $36,576. Loan review analysts earn the highest pay from the finance industry, with an average salary of $46,560.mortgage consultants typically earn similar educational levels compared to loan review analysts. Specifically, they're 3.1% less likely to graduate with a Master's Degree, and 0.4% less likely to earn a Doctoral Degree.Loan review analyst vs. Mortgage banker
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Types of loan review analyst
Updated January 8, 2025
