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The differences between mortgage analysts and senior credit analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a mortgage analyst and a senior credit analyst. Additionally, a senior credit analyst has an average salary of $86,364, 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 senior credit analyst are credit analysis, customer service, and real estate.
| Mortgage Analyst | Senior Credit Analyst | |
| Yearly salary | $32,763 | $86,364 |
| Hourly rate | $15.75 | $41.52 |
| Growth rate | 4% | 17% |
| Number of jobs | 22,208 | 15,221 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 71% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
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 senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
Mortgage analysts and senior credit analysts have different pay scales, as shown below.
| Mortgage Analyst | Senior Credit Analyst | |
| Average salary | $32,763 | $86,364 |
| Salary range | Between $13,000 And $77,000 | Between $59,000 And $125,000 |
| Highest paying City | New York, NY | White Plains, NY |
| Highest paying state | New York | New York |
| Best paying company | Citi | Apple |
| Best paying industry | - | Finance |
There are a few differences between a mortgage analyst and a senior credit analyst in terms of educational background:
| Mortgage Analyst | Senior Credit Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage analysts' and senior credit analysts' demographics:
| Mortgage Analyst | Senior Credit Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 54.1% Female, 45.9% | Male, 54.6% Female, 45.4% |
| 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, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |