As of March 01, 2025, the average annual salary for a Loan Review Manager in Somerville, MA is $146,775. According to Salary.com, salaries can range from a low of $108,106 to a high of $194,633, with most professionals earning between $126,534 and $171,825.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $153,279 | $12,773 | $2,948 | $74 |
| Average | $130,932 | $10,911 | $2,518 | $63 |
| 25th Percentile | $112,876 | $9,406 | $2,171 | $54 |
An entry-level Loan Review Manager with under 1 year experience makes about $137,796. With less than 2 years of experience, a mid-level Loan Review Manager makes around $138,693. After 2-4 years, the Loan Review Manager pay rises to about $140,787. Those senior Loan Review Manager with 5-8 years of experience earn roughly $143,180, and those Loan Review Manager having 8 years or more experience are expected to earn about $146,013 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Review Manager | $137,796 |
| Intermediate Level Loan Review Manager | $138,693 |
| Senior Level Loan Review Manager | $140,787 |
| Specialist Level Loan Review Manager | $143,180 |
| Expert Level Loan Review Manager | $146,013 |
| Entry Level | 5% |
| Mid Level | 6% |
| Senior Level | 8% |
| Top Level | 9% |
| Experienced | 12% |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Consulting: Providing technical or business expertise and advice to internal or external clients.
Loan Origination: Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application). For mortgages, there is a specific mortgage origination process. Loan servicing covers everything after disbursing the funds until the loan is fully paid off. Loan origination is a specialized version of new account opening for financial services organizations. Certain people and organizations specialize in loan origination. Mortgage brokers and other mortgage originator companies serve as a prominent example. There are many different types of loans. For more information on loan types, see the loan and consumer lending articles. Steps involved in originating a loan vary by loan type, various kinds of loan risk, regulator, lender policy, and other factors.
Business Development: Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. Business development can be taken to mean any activity by either a small or large organization, non-profit or for-profit enterprise which serves the purpose of ‘developing’ the business in some way. In addition, business development activities can be done internally or externally by a business development consultant. External business development can be facilitated through Planning Systems, which are put in place by governments to help small businesses. In addition, reputation building has also proven to help facilitate business development.
| Skill | Salary | Demand |
|---|---|---|
|
Commercial Banking
|
$167,324 |
14%
|
|
Strategic Thinking
|
$158,517 |
8%
|
|
Financial Analysis
|
$158,517 |
8%
|
|
Internal Audit
|
$157,049 |
7%
|
|
Commercial Loans
|
$155,582 |
6%
|
|
Analysis
|
$154,114 |
5%
|
