What does a Mortgage Analyst do?

Learn all about Mortgage Analyst duties, skills and much more. Get expert advice on how to become a Mortgage Analyst.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A mortgage analyst is responsible for analyzing and approving mortgage loan applications. They must have a strong understanding of the different types of loans available and the financial ability of the applicant to repay the loan.

Mortgage Analyst job duties include:

  • Research and analyze loan applications to determine creditworthiness
  • Analyze financial statements, tax returns, and other documentation to assess risk
  • Prepare reports detailing findings and recommendations
  • Present findings to underwriters and make recommendations for approval or denial
  • Work with loan officers to ensure all required documentation is obtained
  • Review appraisals to ensure compliance with guidelines
  • Stay up-to-date on industry changes and developments
  • Train new employees on mortgage analysis procedures
  • Monitor portfolio performance and identify trends
  • Perform quality control reviews of loan files

Mortgage Analyst Job Requirements

A mortgage analyst typically needs at least a bachelor's degree in finance, accounting, economics, or a related field. Some employers may prefer candidates who have a master's degree or certification in financial analysis. In addition, mortgage analysts should have several years of experience working in the financial industry, preferably in mortgage lending or banking. Strong analytical and math skills are essential, as is the ability to use financial software programs.

Mortgage Analyst Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Financial modeling
  • Real estate finance
  • Mortgage banking
  • Loan servicing
  • Asset management
  • Portfolio management
  • Risk management
  • Financial reporting
  • Compliance

Related: Top Mortgage Analyst Skills: Definition and Examples

How to become a Mortgage Analyst

A mortgage analyst is a professional who helps people obtain financing for their home purchase. In order to become a mortgage analyst, one must first complete a four-year degree in finance or a related field. After completing an undergraduate degree, many people choose to pursue a master’s degree in business administration with a concentration in finance.

Mortgage analysts typically work for banks, credit unions, or other financial institutions. They are responsible for assessing an applicant’s financial situation and determining whether or not they qualify for a loan. Mortgage analysts must have strong analytical and interpersonal skills. They must be able to evaluate complex financial information and communicate their findings to loan officers and borrowers.

The job outlook for mortgage analysts is positive. The median salary for this position is $64,000 per year. With experience, mortgage analysts can earn upwards of $100,000 per year.

Related: Mortgage Analyst Resume Example

Related: Mortgage Analyst Interview Questions (With Example Answers)