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The differences between mortgage analysts and mortgage 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 specialist takes usually requires 2-4 years. Additionally, a mortgage specialist has an average salary of $38,757, 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 specialist are customer service, residential mortgage loans, and origination.
| Mortgage Analyst | Mortgage Specialist | |
| Yearly salary | $32,763 | $38,757 |
| Hourly rate | $15.75 | $18.63 |
| Growth rate | 4% | -3% |
| Number of jobs | 22,208 | 26,471 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 55% |
| Average age | 39 | 42 |
| Years of experience | 2 | 4 |
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.
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.
Mortgage analysts and mortgage specialists have different pay scales, as shown below.
| Mortgage Analyst | Mortgage Specialist | |
| Average salary | $32,763 | $38,757 |
| Salary range | Between $13,000 And $77,000 | Between $29,000 And $51,000 |
| Highest paying City | New York, NY | Oakland, CA |
| Highest paying state | New York | Washington |
| Best paying company | Citi | Citi |
| Best paying industry | - | Finance |
There are a few differences between a mortgage analyst and a mortgage specialist in terms of educational background:
| Mortgage Analyst | Mortgage Specialist | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage analysts' and mortgage specialists' demographics:
| Mortgage Analyst | Mortgage Specialist | |
| Average age | 39 | 42 |
| Gender ratio | Male, 54.1% Female, 45.9% | Male, 39.3% Female, 60.7% |
| 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, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 11% | 7% |