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The differences between loan reviewers 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 reviewer and a mortgage underwriter. Additionally, a mortgage underwriter has an average salary of $55,721, 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 mortgage underwriter are customer service, work ethic, and FHA.
| Loan Reviewer | Mortgage Underwriter | |
| Yearly salary | $31,175 | $55,721 |
| Hourly rate | $14.99 | $26.79 |
| Growth rate | 4% | 4% |
| Number of jobs | 14,737 | 9,260 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 65% |
| 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.
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 reviewers and mortgage underwriters have different pay scales, as shown below.
| Loan Reviewer | Mortgage Underwriter | |
| Average salary | $31,175 | $55,721 |
| Salary range | Between $24,000 And $39,000 | Between $38,000 And $80,000 |
| Highest paying City | Olympia, WA | New York, NY |
| Highest paying state | Washington | New Mexico |
| Best paying company | Citizens Alliance | CTBC Bank |
| Best paying industry | Finance | Professional |
There are a few differences between a loan reviewer and a mortgage underwriter in terms of educational background:
| Loan Reviewer | Mortgage Underwriter | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan reviewers' and mortgage underwriters' demographics:
| Loan Reviewer | Mortgage Underwriter | |
| Average age | 45 | 45 |
| Gender ratio | Male, 29.9% Female, 70.1% | Male, 39.3% Female, 60.7% |
| 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, 9.2% 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% |