Mortgage loan counselor vs loan analyst

The differences between mortgage loan counselors and loan analysts 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 loan counselor, becoming a loan analyst takes usually requires 4-6 years. Additionally, a mortgage loan counselor has an average salary of $45,635, which is higher than the $37,857 average annual salary of a loan analyst.

The top three skills for a mortgage loan counselor include customer service, FHA and loan process. The most important skills for a loan analyst are loan documentation, customer service, and real estate.

Mortgage loan counselor vs loan analyst overview

	Mortgage Loan Counselor	Loan Analyst
Yearly salary	$45,635	$37,857
Hourly rate	$21.94	$18.20
Growth rate	-3%	4%
Number of jobs	38,488	24,756
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 66%
Average age	45	45
Years of experience	2	6

Mortgage loan counselor vs loan analyst salary

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

	Mortgage Loan Counselor	Loan Analyst
Average salary	$45,635	$37,857
Salary range	Between $35,000 And $57,000	Between $24,000 And $58,000
Highest paying City	-	Raleigh, NC
Highest paying state	-	South Dakota
Best paying company	-	Barclays
Best paying industry	-	Finance

Differences between mortgage loan counselor and loan analyst education

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

	Mortgage Loan Counselor	Loan Analyst
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	Stanford University	University of Pennsylvania

Mortgage loan counselor vs loan analyst demographics

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

	Mortgage Loan Counselor	Loan Analyst
Average age	45	45
Gender ratio	Male, 39.6% Female, 60.4%	Male, 43.2% Female, 56.8%
Race ratio	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% 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%

Differences between mortgage loan counselor and loan analyst duties and responsibilities

Mortgage loan counselor example responsibilities.

Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
Develop effective partnerships with non-profit organizations and community developments to improve origination of affordable housing loans for first time home buyers.
Help customers to bring their accounts current through negotiation and listening skills and programs that are available through Drivetime for assistance.

Loan analyst example responsibilities.

Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
Prepare and remit quarterly / semi-annual USDA reporting
Communicate with FHA, VA, FNMA and FHLMC investors for any missing documents that are not include at closing.
Review government loan's documents including FHA & VA loans, and approves or suspends the loans after the underwriter decision.
Contact correspondent lenders for any missing documents and request correction of documents when necessary.
Select to participate in company management as a critical member of loan origination process improvement team.

Mortgage loan counselor vs loan analyst skills

Common mortgage loan counselor skills

Customer Service, 19%
FHA, 11%
Loan Process, 9%
Outbound Calls, 9%
Payment Arrangements, 8%
Loan Modifications, 4%

Common loan analyst skills

Loan Documentation, 13%
Customer Service, 12%
Real Estate, 9%
Financial Statements, 9%
Loan Portfolio, 4%
Data Entry, 4%