Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between mortgage bankers and loan analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a mortgage banker and a loan analyst. Additionally, a loan analyst has an average salary of $37,857, which is higher than the $27,331 average annual salary of a mortgage banker.
The top three skills for a mortgage banker include customer service, NMLS and federal regulations. The most important skills for a loan analyst are loan documentation, customer service, and real estate.
| Mortgage Banker | Loan Analyst | |
| Yearly salary | $27,331 | $37,857 |
| Hourly rate | $13.14 | $18.20 |
| Growth rate | 4% | 4% |
| Number of jobs | 24,297 | 24,756 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
A loan analyst is responsible for determining the eligibility of loan applicants in purchasing loan services by analyzing their application documents, account statements, and financial and credit status. Loan analysts evaluate loan agreements and payment plans and explain feasibility to the customers and loan officers before granting the loan. They also provide loan options and alternatives to the clients according to their needs and risk limitations. A loan analyst must have excellent knowledge of the loan and financial industry, especially in handling credit policies and loan processes and ensuring timely submission of reports.
Mortgage bankers and loan analysts have different pay scales, as shown below.
| Mortgage Banker | Loan Analyst | |
| Average salary | $27,331 | $37,857 |
| Salary range | Between $9,000 And $78,000 | Between $24,000 And $58,000 |
| Highest paying City | - | Raleigh, NC |
| Highest paying state | - | South Dakota |
| Best paying company | - | Barclays |
| Best paying industry | - | Finance |
There are a few differences between a mortgage banker and a loan analyst in terms of educational background:
| Mortgage Banker | Loan Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage bankers' and loan analysts' demographics:
| Mortgage Banker | Loan Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 71.7% Female, 28.3% | Male, 43.2% Female, 56.8% |
| Race ratio | 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% | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |