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Senior mortgage consultant vs senior loan officer

The differences between senior mortgage consultants and senior 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 senior mortgage consultant and a senior loan officer. Additionally, a senior mortgage consultant has an average salary of $37,351, which is higher than the $37,162 average annual salary of a senior loan officer.

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

Senior mortgage consultant vs senior loan officer overview

Senior Mortgage ConsultantSenior Loan Officer
Yearly salary$37,351$37,162
Hourly rate$17.96$17.87
Growth rate4%4%
Number of jobs15,96165,807
Job satisfaction--
Most common degreeBachelor's Degree, 74%Bachelor's Degree, 66%
Average age4545
Years of experience66

Senior mortgage consultant vs senior loan officer salary

Senior mortgage consultants and senior loan officers have different pay scales, as shown below.

Senior Mortgage ConsultantSenior Loan Officer
Average salary$37,351$37,162
Salary rangeBetween $23,000 And $60,000Between $29,000 And $46,000
Highest paying City-Miami, FL
Highest paying state-Hawaii
Best paying company-Salal Credit Union
Best paying industry-Finance

Differences between senior mortgage consultant and senior loan officer education

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

Senior Mortgage ConsultantSenior Loan Officer
Most common degreeBachelor's Degree, 74%Bachelor's Degree, 66%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Senior mortgage consultant vs senior loan officer demographics

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

Senior Mortgage ConsultantSenior Loan Officer
Average age4545
Gender ratioMale, 71.3% Female, 28.7%Male, 69.4% Female, 30.6%
Race ratioBlack or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% 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 mortgage consultant and senior loan officer duties and responsibilities

Senior mortgage consultant example responsibilities.

  • Manage files from origination to closing, and accurately organize and review all documents for processing.
  • Originate and process mortgage loans (FHA, VA, conforming and non-conforming loans).
  • Full accountability for loan origination, underwriting and servicing, successfully cultivating a large and intensely-loyal client base.
  • Price out loans, retrieve and submit RESPA & income documentation to the bank (s).
  • Negotiate an exclusive marketing agreement with 2 REMAX offices and a builder that generate over 1.5 million/month in FHA business.
  • Establish communication with escrow officers, processors, loan officers and underwriter regarding loan status and/or missing information.
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Senior loan officer example responsibilities.

  • Oversee the loan origination process from inception to completion and initiate aggressive business growth opportunities in a highly competitive market.
  • Maintain close relationships with loan processors and problem-solve upcoming issues to ensure quality loan origination and minimize last-minute conditions of approval.
  • Prepare FNMA 1003 and RESPA documents.
  • Underwrite over 30 FNMA modification loans determining terms of trial and permanent modifications.
  • Utilize automated underwriting engines to assess credit and collateral risk conventional and FHA lending.
  • Establish communication with escrow officers, processors, loan officers and underwriter regarding loan status and/or missing information.
  • Show more

Senior mortgage consultant vs senior loan officer skills

Common senior mortgage consultant skills
  • Origination, 9%
  • Bank Products, 8%
  • Customer Service, 7%
  • SR, 7%
  • Product Knowledge, 7%
  • Customer Satisfaction, 6%
Common senior loan officer skills
  • Customer Service, 15%
  • Loan Applications, 11%
  • Origination, 10%
  • Business Relationships, 5%
  • FHA, 5%
  • Va, 5%

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