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Senior loan consultant vs loan analyst

The differences between senior loan consultants and loan analysts 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 analyst. Additionally, a loan analyst has an average salary of $37,857, 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 analyst are loan documentation, customer service, and real estate.

Senior loan consultant vs loan analyst overview

Senior Loan ConsultantLoan Analyst
Yearly salary$34,256$37,857
Hourly rate$16.47$18.20
Growth rate4%4%
Number of jobs22,87224,756
Job satisfaction--
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 66%
Average age4545
Years of experience66

Senior loan consultant vs loan analyst salary

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

Senior Loan ConsultantLoan Analyst
Average salary$34,256$37,857
Salary rangeBetween $27,000 And $42,000Between $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 senior loan consultant and loan analyst education

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

Senior Loan ConsultantLoan Analyst
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 66%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Senior loan consultant vs loan analyst demographics

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

Senior Loan ConsultantLoan Analyst
Average age4545
Gender ratioMale, 64.7% Female, 35.3%Male, 43.2% Female, 56.8%
Race ratioBlack 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, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior loan consultant and loan analyst 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.
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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.
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Senior loan consultant vs loan analyst skills

Common senior loan consultant skills
  • Origination, 12%
  • Loan Applications, 10%
  • Loan Products, 9%
  • Escrow, 7%
  • FHA, 6%
  • Va, 6%
Common loan analyst skills
  • Loan Documentation, 13%
  • Customer Service, 12%
  • Real Estate, 9%
  • Financial Statements, 9%
  • Loan Portfolio, 4%
  • Data Entry, 4%

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