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The differences between loan reviewers and loan officers 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 reviewer and a loan officer. Additionally, a loan officer has an average salary of $45,817, 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 officer are customer service, origination, and loan origination.
| Loan Reviewer | Loan Officer | |
| Yearly salary | $31,175 | $45,817 |
| Hourly rate | $14.99 | $22.03 |
| Growth rate | 4% | 4% |
| Number of jobs | 14,737 | 63,663 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 61% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
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.
Loan officers are responsible for assisting borrowers on the best type of loans to avail and guiding the clients throughout the application process. A loan officer must be highly knowledgeable about different lending products, payment plans, loan regulations, and essential files for fast loan approval. Loan officers also act as the first point of contact, conducting an initial screening of the customers, process loan contracts and appropriate documentation, update account records, and respond to customer's inquiries. A loan officer also has the right to reject loan applicants who do not meet loan qualifications.
Loan reviewers and loan officers have different pay scales, as shown below.
| Loan Reviewer | Loan Officer | |
| Average salary | $31,175 | $45,817 |
| Salary range | Between $24,000 And $39,000 | Between $30,000 And $69,000 |
| Highest paying City | Olympia, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | Citizens Alliance | Bangor Savings Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a loan reviewer and a loan officer in terms of educational background:
| Loan Reviewer | Loan Officer | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan reviewers' and loan officers' demographics:
| Loan Reviewer | Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 29.9% Female, 70.1% | Male, 55.3% Female, 44.7% |
| 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, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |