What does a loan reviewer do?
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 reviewer responsibilities
Here are examples of responsibilities from real loan reviewer resumes:
- Manage the organization's HMDA data and accurately complete the government reporting annually.
- Review FHA streamline refinance, process and conventional loan application.
- Evaluate conditions receive on all FHA DE approve files submit electronically for purchase.
- Review the loans to ensure they are in compliance with Respa and Tila requirements.
- Work closely with attorneys on daily basis to discuss need documents and possible mitigation or litigation strategies on foreclosure and bankruptcy matters
- Process loans from opening to closing through DU & LP for non-conforming and conforming.
- Participate in small arms range live fire training and ammunition handling safety.
Loan reviewer skills and personality traits
We calculated that 12% of Loan Reviewers are proficient in Loan Review, Real Estate, and Data Entry. They’re also known for soft skills such as Communication skills, Math skills, and Organizational skills.
We break down the percentage of Loan Reviewers that have these skills listed on their resume here:
- Loan Review, 12%
Worked as a residential home loan reviewer analyzing loan applications before they are finalized.
- Real Estate, 11%
Audited Real estate loans prior to underwriter's review for regulatory compliance and secondary marketing issues.
- Data Entry, 8%
Obtained borrowers information, data entry and maintenance.
- Bank Policies, 6%
Reviewed files received form underwriters to ensure proper documentation and compliance with Bank policies and regulatory guidelines.
- Risk Ratings, 6%
Apply correct risk rating by reviewing ratings models, the appropriateness of risk ratings, and rationale for any rating overrides.
- FHA, 5%
Reviewed all mortgage loan types including purchases and refinance, VA, FHA, HARP, and Conventional.
"loan review," "real estate," and "data entry" are among the most common skills that loan reviewers use at work. You can find even more loan reviewer responsibilities below, including:
Detail oriented. loan reviewer responsibilities often require "detail oriented." The duties that rely on this skill are shown by the fact that "information on an application affects the potential profitability of a loan, so loan officers must pay attention to details." This resume example shows what loan reviewers do with detail oriented on a typical day: "entered indirect loan details into sail system and pulled credit reports. "
Initiative. Another crucial skill for a loan reviewer to carry out their responsibilities is "initiative." A big part of what loan reviewers relies on this skill, since "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." How this skill relates to loan reviewer duties can be seen in an example from a loan reviewer resume snippet: "participated in the implementation of flexcube enhancements a new loan system to support new business initiatives. "
Interpersonal skills. Another skill commonly found on loan reviewer job descriptions is "interpersonal skills." It can come up quite often in loan reviewer duties, since "loan officers must be able to guide customers through the application process and answer their questions." Here's an example from a resume of how this skill fits into day-to-day loan reviewer responsibilities: "possessed strong customer service and interpersonal skills. "
The three companies that hire the most loan reviewers are:
- U.S. Bank4 loan reviewers jobs
- First Financial Northwest Bank1 loan reviewers jobs
- First Guaranty Bank1 loan reviewers jobs
Choose from 10+ customizable loan reviewer resume templates
Build a professional loan reviewer resume in minutes. Our AI resume writing assistant will guide you through every step of the process, and you can choose from 10+ resume templates to create your loan reviewer resume.
Compare different loan reviewers
Loan reviewer 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.
While similarities exist, there are also some differences between loan reviewers and mortgage consultant. For instance, loan reviewer responsibilities require skills such as "loan review," "real estate," "data entry," and "bank policies." Whereas a mortgage consultant is skilled in "customer service," "origination," "nmls," and "financial services." This is part of what separates the two careers.
Mortgage consultants really shine in the finance industry with an average salary of $36,576. Comparatively, loan reviewers tend to make the most money in the finance industry with an average salary of $37,970.The education levels that mortgage consultants earn slightly differ from loan reviewers. In particular, mortgage consultants are 0.9% more likely to graduate with a Master's Degree than a loan reviewer. Additionally, they're 0.1% more likely to earn a Doctoral Degree.Loan reviewer vs. Senior underwriter
A senior underwriter is responsible for evaluating the eligibility of an applicant for loan application processing. Senior underwriters verify the applicant's information, including their credit score and other valid documents, ensuring that the applicant fulfills the loan application's parameters. They check the applicant's portfolios and provide them the next necessary steps and the alternatives for loan types. A senior underwriter must have excellent knowledge of the loan processes and underwriting procedures to analyze applications and make accurate decisions.
Each career also uses different skills, according to real loan reviewer resumes. While loan reviewer responsibilities can utilize skills like "loan review," "real estate," "data entry," and "bank policies," senior underwriters use skills like "customer service," "portfolio," "underwriting guidelines," and "strong analytical."
On average, senior underwriters earn a higher salary than loan reviewers. Some industries support higher salaries in each profession. Interestingly enough, senior underwriters earn the most pay in the insurance industry with an average salary of $77,893. Whereas loan reviewers have higher pay in the finance industry, with an average salary of $37,970.Average education levels between the two professions vary. Senior underwriters tend to reach similar levels of education than loan reviewers. In fact, they're 2.9% more likely to graduate with a Master's Degree and 0.1% more likely to earn a Doctoral Degree.Loan reviewer vs. Mortgage underwriter
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.
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 reviewer is likely to be skilled in "loan review," "real estate," "data entry," and "bank policies," while a typical mortgage underwriter is skilled in "customer service," "work ethic," "excellent organizational," and "excellent interpersonal."
Mortgage underwriters make a very good living in the professional industry with an average annual salary of $70,618. On the other hand, loan reviewers are paid the highest salary in the finance industry, with average annual pay of $37,970.mortgage underwriters typically earn similar educational levels compared to loan reviewers. Specifically, they're 1.6% more likely to graduate with a Master's Degree, and 0.4% more likely to earn a Doctoral Degree.Loan reviewer vs. Mortgage specialist
Mortgage specialists are professionals who work with lending institutions to identify the best lending product for their clients in exchange for taking the title of the debtors' properties. These specialists must process mortgage loan applications by reviewing their paperwork to ensure accuracy and completeness before submitting for approval. They should monitor accounts during the bankruptcy proceedings to ensure that the rights of their clients are protected. Mortgage specialists are also required to guide associates regarding procedural guidelines from FNMA, FHLMC, and MHA.
Types of loan reviewer
Updated January 8, 2025
