Senior loan consultant vs loan adviser

The differences between senior loan consultants and loan advisers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a senior loan consultant and a loan adviser. Additionally, a loan adviser has an average salary of $40,365, which is higher than the $34,256 average annual salary of a senior loan consultant.

The top three skills for a senior loan consultant include origination, loan applications and loan products. The most important skills for a loan adviser are customer service, origination, and mortgage loans.

Senior loan consultant vs loan adviser overview

	Senior Loan Consultant	Loan Adviser
Yearly salary	$34,256	$40,365
Hourly rate	$16.47	$19.41
Growth rate	4%	4%
Number of jobs	22,872	24,189
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 52%
Average age	45	45
Years of experience	6	6

Senior loan consultant vs loan adviser salary

Senior loan consultants and loan advisers have different pay scales, as shown below.

	Senior Loan Consultant	Loan Adviser
Average salary	$34,256	$40,365
Salary range	Between $27,000 And $42,000	Between $28,000 And $56,000
Highest paying City	-	-
Highest paying state	-	-
Best paying company	-	-
Best paying industry	-	-

Differences between senior loan consultant and loan adviser education

There are a few differences between a senior loan consultant and a loan adviser in terms of educational background:

	Senior Loan Consultant	Loan Adviser
Most common degree	Bachelor's Degree, 67%	Bachelor's Degree, 52%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Senior loan consultant vs loan adviser demographics

Here are the differences between senior loan consultants' and loan advisers' demographics:

	Senior Loan Consultant	Loan Adviser
Average age	45	45
Gender ratio	Male, 64.7% Female, 35.3%	Male, 47.7% Female, 52.3%
Race ratio	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%	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between senior loan consultant and loan adviser duties and responsibilities

Senior loan consultant example responsibilities.

Manage all HMDA reporting, and performing post-closing review of loan documentation.
Specialize in mortgage lending for customers with complex credit portfolios and government loan programs to include FHA and VA loans.
Originate loans through FHA and conventional lenders through knowledge of programs guidelines and availability, following all of RESPA guidelines.
Maintain customer files and documents in RESPA compliance.
Oversee entire mortgage process including application, origination, underwriting and closing.
Create and implement training protocol for new recruits across origination, processing and post-closing.

Loan adviser example responsibilities.

Manage a multifacete commercial real estate investment firm.
Follow the FDCPA, FCRA and TCPA guidelines and is a license collector.
Assist future homeowners obtain financing through FHA, VA, USDA, or conventional financing.
Handle all calls with due care to ensure proper adherence to FDCPA rules and regulations.
Determine financing options for clients, and advise them on a variety of FHA, conventional, and sub-prime mortgages.
Communicate to a small team basic loan restructuring possibilities to assist customers in resolving delinquency and avoiding foreclosure.

Senior loan consultant vs loan adviser skills

Common senior loan consultant skills

Origination, 12%
Loan Applications, 10%
Loan Products, 9%
Escrow, 7%
FHA, 6%
Va, 6%

Common loan adviser skills

Customer Service, 44%
Origination, 14%
Mortgage Loans, 7%
Loan Process, 5%
Automated Underwriting, 4%
NMLS, 4%