Loan Review Officer Salary

Median pay for Loan Review Officers in the United States is around $66K annually. Nearly all report receiving medical coverage from their employers and most collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. Women make up the majority of Loan Review Officers (60 percent) who completed the questionnaire.

$35,436 - $104,808
$35K
$66K
$100K
MEDIAN: $65,907
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$35,436 - $104,808  
   
Bonus
$494.93 - $24,658  
Profit Sharing
$4,500  
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).
)
$34,805 - $108,807  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 41

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United States (change)

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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.

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Loan Review Officer Tasks

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

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Pay by Experience Level for Loan Review Officer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Folks with fewer than five years of experience take home $39K on average, and those who have worked for five to 10 years see a bigger median salary of $57K. Loan Review Officers bring in $87K after working for 10 to 20 years. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $76K by contrast.

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
60 %
Male
40 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 11 votes.
Less than 1 year
2%
1-4 years
19%
5-9 years
24%
10-19 years
36%
20 years or more
19%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Loan Review Officer Salaries

Experienced
▲33%

Late-Career
▲16%

National Average
$65,000

Mid-Career
▼12%

Entry-Level
▼40%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 11 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

Less than 1 year
2%
1-4 years
19%
5-9 years
24%
10-19 years
36%
20 years or more
19%

Common Health Benefits

medical benefits
Medical: 94%
dental benefits
Dental: 84%
vision benefits
Vision: 68%
dental benefits
None: 6%
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