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The differences between escrow officers and senior underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior underwriter has an average salary of $69,375, which is higher than the $50,270 average annual salary of an escrow officer.
The top three skills for an escrow officer include customer service, HOA and title insurance. The most important skills for a senior underwriter are customer service, portfolio, and underwriting guidelines.
| Escrow Officer | Senior Underwriter | |
| Yearly salary | $50,270 | $69,375 |
| Hourly rate | $24.17 | $33.35 |
| Growth rate | 4% | -4% |
| Number of jobs | 62,077 | 6,726 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 71% |
| Average age | 45 | 44 |
| Years of experience | 6 | - |
Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller. They verify the document of land ownership, checking property title, and consulting with potential buyers, sellers, and lending firms. It is also their responsibility to handle the deposition of funds and processing of legal documents, including paperwork to finalize the transaction.
A senior underwriter is responsible for evaluating the eligibility of an applicant for loan application processing. Senior underwriters verify the applicant's information, including their credit score and other valid documents, ensuring that the applicant fulfills the loan application's parameters. They check the applicant's portfolios and provide them the next necessary steps and the alternatives for loan types. A senior underwriter must have excellent knowledge of the loan processes and underwriting procedures to analyze applications and make accurate decisions.
Escrow officers and senior underwriters have different pay scales, as shown below.
| Escrow Officer | Senior Underwriter | |
| Average salary | $50,270 | $69,375 |
| Salary range | Between $36,000 And $70,000 | Between $44,000 And $108,000 |
| Highest paying City | Walnut Creek, CA | New York, NY |
| Highest paying state | New Mexico | New York |
| Best paying company | Fidelity National Financial | Capital Group |
| Best paying industry | Finance | Insurance |
There are a few differences between an escrow officer and a senior underwriter in terms of educational background:
| Escrow Officer | Senior Underwriter | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between escrow officers' and senior underwriters' demographics:
| Escrow Officer | Senior Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 14.9% Female, 85.1% | Male, 42.0% Female, 58.0% |
| Race ratio | Black or African American, 8.8% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.2% White, 64.0% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 2.5% Hispanic or Latino, 9.4% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |