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The differences between mortgage originators and loan administrators 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 loan administrator. Additionally, a loan administrator has an average salary of $42,859, 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 loan administrator are customer service, data entry, and loan administration.
| Mortgage Originator | Loan Administrator | |
| Yearly salary | $31,380 | $42,859 |
| Hourly rate | $15.09 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 11,164 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 58% |
| 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.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Mortgage originators and loan administrators have different pay scales, as shown below.
| Mortgage Originator | Loan Administrator | |
| Average salary | $31,380 | $42,859 |
| Salary range | Between $16,000 And $57,000 | Between $31,000 And $59,000 |
| Highest paying City | - | Seattle, WA |
| Highest paying state | - | Hawaii |
| Best paying company | - | BNY Mellon |
| Best paying industry | - | Finance |
There are a few differences between a mortgage originator and a loan administrator in terms of educational background:
| Mortgage Originator | Loan Administrator | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage originators' and loan administrators' demographics:
| Mortgage Originator | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 23.2% Female, 76.8% |
| 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, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |