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The differences between mortgage originators and commercial loan officers 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 originator and a commercial loan officer. Additionally, a commercial loan officer has an average salary of $70,876, which is higher than the $31,380 average annual salary of a mortgage originator.
The top three skills for a mortgage originator include customer service, origination and bank products. The most important skills for a commercial loan officer are customer service, loan portfolio, and financial statements.
| Mortgage Originator | Commercial Loan Officer | |
| Yearly salary | $31,380 | $70,876 |
| Hourly rate | $15.09 | $34.08 |
| Growth rate | 4% | 4% |
| Number of jobs | 11,164 | 91,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A Mortgage Originator is someone who will work with a borrower to process and complete a home loan application. They work closely with loan processors and underwriters to collect the required documentation until it is approved. Mortgage Origniators are responsible for guiding clients through the approval stage by assisting them with the paperwork, determining the loan amount, and taking and verifying documentation. They guide borrowers in deciding which mortgage type is right for them.
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Mortgage originators and commercial loan officers have different pay scales, as shown below.
| Mortgage Originator | Commercial Loan Officer | |
| Average salary | $31,380 | $70,876 |
| Salary range | Between $16,000 And $57,000 | Between $50,000 And $100,000 |
| Highest paying City | - | Fort Lee, NJ |
| Highest paying state | - | Maine |
| Best paying company | - | Glacier Ban |
| Best paying industry | - | Finance |
There are a few differences between a mortgage originator and a commercial loan officer in terms of educational background:
| Mortgage Originator | Commercial Loan Officer | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage originators' and commercial loan officers' demographics:
| Mortgage Originator | Commercial Loan Officer | |
| Average age | 45 | 45 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 73.8% Female, 26.2% |
| Race ratio | Black or African American, 10.0% Unknown, 4.7% Hispanic or Latino, 15.2% Asian, 6.1% White, 63.5% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 15.5% Asian, 6.5% White, 63.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |