Loan Review Officer Salary

Average Loan Review Officers in the United States make around $69K per year. Male Loan Review Officers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 57 percent of the field. The majority of workers are highly satisfied with their job. A large number receive medical and dental insurance and the greater part get vision insurance. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$36,729 - $112,552
$37K
$69K
$110K
MEDIAN: $69,144
10%
50%
90%

Add this chart to your site: 640px    300px

$0$113K
Salary $36,729 - $112,552
Bonus $500 - $23,981
Profit Sharing $7,000
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,479 - $113,895
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 40

Find Out Exactly What You Should Be Paid

United States (change)

Employers: Start Here »

Job Description for Loan Review Officer

The position of a loan review officer requires a great deal of patience when working with others, as they are responsible for analyzing loan requests made by clients and determining, by clients' salaries and expenses, if they are eligible for a loan and capable of paying it off. Some loan review officers must turn down potential applicants who may not earn the necessary amount for a loan or have an adequate credit score.

Read More...

Loan Review Officer Tasks

  • Track and maintain credit and loan data.
  • Work directly with clients to review agreements, explain programs, and negotiate loans and terms.
  • Obtain and compile financial information to evaluate loan applications and their risk.
  • Generate new clients and referrals through strong relationship building.

Loan Review Officer Job Listings

Pay by Experience Level for Loan Review Officer

Pay by Experience for a Loan Review Officer has a positive trend. An entry-level Loan Review Officer with less than 5 years of experience can expect to earn an average total compensation of $39,000 based on 11 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Review Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $62,000 based on 14 salaries. An experienced Loan Review Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $87,000 based on 13 salaries. A Loan Review Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $83,000 based on 6 salaries.

Loan Review Officer Reviews

Q: What is it like working as a Loan Review Officer?

Loan Review Officer in Eugene:
"Work flexibility."
Pros: As a loan review officer I like that I'm helping my company to reduce risk and identify problem loans early. The work is flexible and gives me the opportunity to take on other responsibilities and projects. With the ALLR management, I like to be a part of analyzing and establishing loss rates for current and future loans to also help my company minimize risk.
Cons: Loan review officer can get mundane reading loan after loan. I do have to remind myself that I'm helping the greater good of the bank. Sometimes I'm also not the most favorite person in the bank if I need to downgrade a loan or point out problems in loan approvals to loan officers. ALLR management is getting more and more difficult in justifying the current levels of reserves. Q & E factors are a challenge; examiners want you to quantify a subjective (per guidance) process, but the more you quantify, the less subjective it gets and they want support for the quantification. It's a thin like to walk to maintain subjectivity and some flexibility in management's decisions, but to quantify enough to satisfy examiners.

Key Stats for Loan Review Officer

Gender

Female
43 %
Male
57 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 9 votes.
Less than 1 year
2%
1-4 years
17%
5-9 years
24%
10-19 years
37%
20 years or more
20%
ADVERTISEMENT
Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Review Officer Salaries

Experienced
▲21%

Late-Career
▲16%

National Average
$72,000

Mid-Career
▼14%

Entry-Level
▼46%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 9 votes.

Gender

Female
43 %
Male
57 %

Years of Experience

Less than 1 year
2%
1-4 years
17%
5-9 years
24%
10-19 years
37%
20 years or more
20%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 83%
vision benefits
Vision: 63%
no benefits
None: 13%
ADVERTISEMENT