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The differences between branch lending officers and mortgage underwriters can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a branch lending officer and a mortgage underwriter. Additionally, a mortgage underwriter has an average salary of $55,721, which is higher than the $46,615 average annual salary of a branch lending officer.
The top three skills for a branch lending officer include business relationships, origination and FHA. The most important skills for a mortgage underwriter are customer service, work ethic, and FHA.
| Branch Lending Officer | Mortgage Underwriter | |
| Yearly salary | $46,615 | $55,721 |
| Hourly rate | $22.41 | $26.79 |
| Growth rate | 4% | 4% |
| Number of jobs | 70,689 | 9,260 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 65% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A branch lending officer is typically in charge of processing loan applications, ensuring accuracy and smooth workflow. Their responsibilities revolve around liaising with clients to identify their needs, conducting interviews and assessments, gathering and reviewing requirements, and coordinating with analysts and other staff. They may also perform clerical tasks such as answering calls and correspondence, arranging appointments, and maintaining records of all transactions. Furthermore, as a branch lending officer, it is essential to provide efficient customer service, all while adhering to the company's policies and regulations, including its vision and mission.
A mortgage underwriter is responsible for reviewing mortgage loan applications and deciding on its approval or rejection by evaluating the submitted documents and the applicant's eligibility. Mortgage underwriters create assessment reports, research on the applicant's credit score, analyze potential loan risk, and request for additional documentation as needed. A mortgage underwriter must have extensive knowledge of the loan disciplines and processes, including its legislative procedures and regulations, to provide accurate decisions or discuss necessary findings to the loan officer for advice.
Branch lending officers and mortgage underwriters have different pay scales, as shown below.
| Branch Lending Officer | Mortgage Underwriter | |
| Average salary | $46,615 | $55,721 |
| Salary range | Between $29,000 And $73,000 | Between $38,000 And $80,000 |
| Highest paying City | Saint Cloud, MN | New York, NY |
| Highest paying state | New Mexico | New Mexico |
| Best paying company | Citi | CTBC Bank |
| Best paying industry | Finance | Professional |
There are a few differences between a branch lending officer and a mortgage underwriter in terms of educational background:
| Branch Lending Officer | Mortgage Underwriter | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between branch lending officers' and mortgage underwriters' demographics:
| Branch Lending Officer | Mortgage Underwriter | |
| Average age | 45 | 45 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 39.3% Female, 60.7% |
| Race ratio | Black 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 Percentage | 8% | 8% |