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The differences between loan reviewers and loan coordinators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a loan reviewer, becoming a loan coordinator takes usually requires 2-4 years. Additionally, a loan coordinator has an average salary of $39,836, which is higher than the $31,175 average annual salary of a loan reviewer.
The top three skills for a loan reviewer include loan review, real estate and data entry. The most important skills for a loan coordinator are customer service, work ethic, and FHA.
| Loan Reviewer | Loan Coordinator | |
| Yearly salary | $31,175 | $39,836 |
| Hourly rate | $14.99 | $19.15 |
| Growth rate | 4% | -3% |
| Number of jobs | 14,737 | 24,765 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 56% |
| Average age | 45 | 42 |
| Years of experience | 6 | 4 |
A loan reviewer is a person who evaluates and reviews the loan application of clients based on their loan capacity and capability to pay. They are responsible for assessing needed documents and ensures compliance with the regulation and policies of a bank or credit cooperative. A loan reviewer also verifies if the loan procedure is properly implemented. They have other responsibilities such as identifying loan problems, reviewing other banking processes, and reporting fraudulent claims. A representative also records and keeps the data needed for further analysis.
A Loan Coordinator is responsible for processing loan applications and determining the eligibility of applicants for loan options. Loan Coordinators perform administrative and clerical duties under the supervision of a loan supervisor. They file reports, monitor transactions, and review the applicants' credit scores. A loan coordinator must have excellent communication and organizational skills, especially responding to the applicants' inquiries and concerns, resolving complaints, and directing them to the loan personnel for any updates on their applications.
Loan reviewers and loan coordinators have different pay scales, as shown below.
| Loan Reviewer | Loan Coordinator | |
| Average salary | $31,175 | $39,836 |
| Salary range | Between $24,000 And $39,000 | Between $30,000 And $51,000 |
| Highest paying City | Olympia, WA | Raleigh, NC |
| Highest paying state | Washington | West Virginia |
| Best paying company | Citizens Alliance | JPMorgan Chase & Co. |
| Best paying industry | Finance | Professional |
There are a few differences between a loan reviewer and a loan coordinator in terms of educational background:
| Loan Reviewer | Loan Coordinator | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 56% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan reviewers' and loan coordinators' demographics:
| Loan Reviewer | Loan Coordinator | |
| Average age | 45 | 42 |
| Gender ratio | Male, 29.9% Female, 70.1% | Male, 25.3% Female, 74.7% |
| Race ratio | Black or African American, 9.1% Unknown, 4.6% Hispanic or Latino, 15.8% Asian, 6.4% White, 63.6% American Indian and Alaska Native, 0.5% | Black or African American, 11.9% Unknown, 4.3% Hispanic or Latino, 17.7% Asian, 7.5% White, 58.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 7% |