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The differences between loan reviewers 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 reviewer and a senior loan processor. Additionally, a senior loan processor has an average salary of $50,297, 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 senior loan processor are customer service, FHA, and va.
| Loan Reviewer | Senior Loan Processor | |
| Yearly salary | $31,175 | $50,297 |
| Hourly rate | $14.99 | $24.18 |
| Growth rate | 4% | 4% |
| Number of jobs | 14,737 | 21,995 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 50% |
| 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 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 reviewers and senior loan processors have different pay scales, as shown below.
| Loan Reviewer | Senior Loan Processor | |
| Average salary | $31,175 | $50,297 |
| Salary range | Between $24,000 And $39,000 | Between $33,000 And $75,000 |
| Highest paying City | Olympia, WA | Baltimore, MD |
| Highest paying state | Washington | Hawaii |
| Best paying company | Citizens Alliance | Accenture |
| Best paying industry | Finance | Professional |
There are a few differences between a loan reviewer and a senior loan processor in terms of educational background:
| Loan Reviewer | Senior Loan Processor | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between loan reviewers' and senior loan processors' demographics:
| Loan Reviewer | Senior Loan Processor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 29.9% Female, 70.1% | Male, 23.0% Female, 77.0% |
| 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, 9.1% 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% |