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The differences between mortgage originators and loan originators 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 originator. Additionally, a loan originator has an average salary of $41,291, 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 originator are customer service, origination, and FHA.
| Mortgage Originator | Loan Originator | |
| Yearly salary | $31,380 | $41,291 |
| Hourly rate | $15.09 | $19.85 |
| Growth rate | 4% | 4% |
| Number of jobs | 11,164 | 10,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 61% |
| 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 Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
Mortgage originators and loan originators have different pay scales, as shown below.
| Mortgage Originator | Loan Originator | |
| Average salary | $31,380 | $41,291 |
| Salary range | Between $16,000 And $57,000 | Between $28,000 And $60,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | South Dakota |
| Best paying company | - | Centennial Bank |
| Best paying industry | - | Transportation |
There are a few differences between a mortgage originator and a loan originator in terms of educational background:
| Mortgage Originator | Loan Originator | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage originators' and loan originators' demographics:
| Mortgage Originator | Loan Originator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 54.0% Female, 46.0% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |