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Mortgage analyst vs mortgage loan specialist

The differences between mortgage analysts and mortgage loan specialists 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 loan specialist takes usually requires 2-4 years. Additionally, a mortgage loan specialist has an average salary of $41,186, which is higher than the $32,763 average annual salary of a mortgage analyst.

The top three skills for a mortgage analyst include origination, financial statements and excellent organizational. The most important skills for a mortgage loan specialist are customer service, FHA, and escrow accounts.

Mortgage analyst vs mortgage loan specialist overview

Mortgage AnalystMortgage Loan Specialist
Yearly salary$32,763$41,186
Hourly rate$15.75$19.80
Growth rate4%-3%
Number of jobs22,20833,704
Job satisfaction--
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 56%
Average age3942
Years of experience24

What does a mortgage analyst do?

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.

What does a mortgage loan specialist do?

Also called a loan officer, a mortgage loan specialist assists clients in finding the appropriate financial aid for homes and other properties. Mortgage loan specialists look for new applicants, secure the right loans, assist with the documentation, and supervise the financing process. They collect and review the financial information of their clients for loan grant eligibility. It is important that they develop skills in financial processes, customer service, time management, and communication.

Mortgage analyst vs mortgage loan specialist salary

Mortgage analysts and mortgage loan specialists have different pay scales, as shown below.

Mortgage AnalystMortgage Loan Specialist
Average salary$32,763$41,186
Salary rangeBetween $13,000 And $77,000Between $27,000 And $62,000
Highest paying CityNew York, NYUniondale, NY
Highest paying stateNew YorkWest Virginia
Best paying companyCitiThe PNC Financial Services Group
Best paying industry-Finance

Differences between mortgage analyst and mortgage loan specialist education

There are a few differences between a mortgage analyst and a mortgage loan specialist in terms of educational background:

Mortgage AnalystMortgage Loan Specialist
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 56%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Mortgage analyst vs mortgage loan specialist demographics

Here are the differences between mortgage analysts' and mortgage loan specialists' demographics:

Mortgage AnalystMortgage Loan Specialist
Average age3942
Gender ratioMale, 54.1% Female, 45.9%Male, 33.9% Female, 66.1%
Race ratioBlack 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, 13.3% Unknown, 4.4% Hispanic or Latino, 14.4% Asian, 7.7% White, 59.7% American Indian and Alaska Native, 0.4%
LGBT Percentage11%7%

Differences between mortgage analyst and mortgage loan specialist duties and responsibilities

Mortgage analyst example responsibilities.

  • Manage a pipeline of fund TRID loans for completeness so they can be deliver and purchase by the required investor.
  • Examine bankruptcy documentation for possible misrepresentation of employment and income at the time of origination.
  • Review loan documents relating to origination, collateral valuations and perform accounting audits & research.
  • Work closely with attorneys on daily basis to discuss need documents and possible mitigation or litigation strategies on foreclosure and bankruptcy matters
  • Cite for excellence in interpersonal communications, teamwork, QC review, flexibility and reliability.

Mortgage loan specialist example responsibilities.

  • Time management and organization skills to effectively prioritize multiple objectives and achieve volume goals.
  • Investigate and resolve, borrower complaints, inquiries and disputes in accordance with RESPA establish procedures.
  • Clear post-closing FHA and VA deficiency items to ensure loans meet federal loan guidelines and ensure they are salable.
  • Process FHA and VA loan information, post-closing, ensure that initial payments receive were forward to the proper department.
  • Respond to mortgage lenders and taxing agency jurisdictions by utilizing effective verbal and written communication in a prompt and accurate manner.
  • Determine loan DU eligibility and submit files to underwriting department.

Mortgage analyst vs mortgage loan specialist skills

Common mortgage analyst skills
  • Origination, 10%
  • Financial Statements, 8%
  • Excellent Organizational, 6%
  • Strong Analytical, 5%
  • Real Estate, 5%
  • Investor Guidelines, 4%
Common mortgage loan specialist skills
  • Customer Service, 21%
  • FHA, 8%
  • Escrow Accounts, 5%
  • Underwriting Approval, 5%
  • Loan Process, 4%
  • Credit Reports, 4%

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