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The differences between mortgage analysts and mortgage bankers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a mortgage analyst, becoming a mortgage banker takes usually requires 4-6 years. Additionally, a mortgage analyst has an average salary of $32,763, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a mortgage analyst include origination, financial statements and excellent organizational. The most important skills for a mortgage banker are customer service, NMLS, and federal regulations.
| Mortgage Analyst | Mortgage Banker | |
| Yearly salary | $32,763 | $27,331 |
| Hourly rate | $15.75 | $13.14 |
| Growth rate | 4% | 4% |
| Number of jobs | 22,208 | 24,297 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| Average age | 39 | 45 |
| Years of experience | 2 | 6 |
Mortgage analysts are financial professionals who are responsible for executing mortgage or loan applications by assessing financial risks and rewards. These analysts are required to analyze the financial and supporting documents on incoming applications to determine whether they are consistent with the internal and insurer policies. They must determine their borrowers' creditworthiness by evaluating property values based on appraised market prices. Mortgage analysts should also collaborate with credit bureaus and reporting agencies to investigate the credit ratings of loan applicants.
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
Mortgage analysts and mortgage bankers have different pay scales, as shown below.
| Mortgage Analyst | Mortgage Banker | |
| Average salary | $32,763 | $27,331 |
| Salary range | Between $13,000 And $77,000 | Between $9,000 And $78,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Citi | - |
| Best paying industry | - | - |
There are a few differences between a mortgage analyst and a mortgage banker in terms of educational background:
| Mortgage Analyst | Mortgage Banker | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage analysts' and mortgage bankers' demographics:
| Mortgage Analyst | Mortgage Banker | |
| Average age | 39 | 45 |
| Gender ratio | Male, 54.1% Female, 45.9% | Male, 71.7% Female, 28.3% |
| Race ratio | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 9.6% White, 69.3% American Indian and Alaska Native, 0.3% | Black or African American, 9.5% Unknown, 4.7% Hispanic or Latino, 15.7% Asian, 6.5% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |