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The differences between foreclosure specialists and commercial underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a commercial underwriter has an average salary of $59,051, which is higher than the $41,088 average annual salary of a foreclosure specialist.
The top three skills for a foreclosure specialist include foreclosure process, insurer and loss mitigation. The most important skills for a commercial underwriter are real estate, customer service, and financial analysis.
| Foreclosure Specialist | Commercial Underwriter | |
| Yearly salary | $41,088 | $59,051 |
| Hourly rate | $19.75 | $28.39 |
| Growth rate | -3% | -4% |
| Number of jobs | 8,166 | 31,908 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 75% |
| Average age | 43 | 44 |
| Years of experience | - | - |
A foreclosure specialist is a real estate professional that manages foreclosure processes. Serving in this role means that you will have responsibilities such as ensuring that aspects related to foreclosure meet all government regulations from the federal level to the state level and that deadlines are met and duly communicated to all parties involved. You may have to work with mortgage holders that run the risk of default, in which case you will be tasked with renegotiating loan agreement changes.
A commercial underwriter is responsible for processing commercial loan applications, evaluating payment agreements and terms of service, validating customers' information, and requesting additional documents as needed. Commercial underwriters analyze the credit qualifications of an applicant, including financial history, account statements, and outstanding loan applications, if any. They identify potential credit risks for the loan request and advice the applicants for alternative loan options according to their needs and qualifications. A commercial underwriter responds to the applicants' inquiries and concerns regarding their loan applications and provides timely decisions for their requests.
Foreclosure specialists and commercial underwriters have different pay scales, as shown below.
| Foreclosure Specialist | Commercial Underwriter | |
| Average salary | $41,088 | $59,051 |
| Salary range | Between $28,000 And $58,000 | Between $41,000 And $84,000 |
| Highest paying City | - | Olympia, WA |
| Highest paying state | - | Washington |
| Best paying company | - | J.P. Morgan |
| Best paying industry | - | Finance |
There are a few differences between a foreclosure specialist and a commercial underwriter in terms of educational background:
| Foreclosure Specialist | Commercial Underwriter | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between foreclosure specialists' and commercial underwriters' demographics:
| Foreclosure Specialist | Commercial Underwriter | |
| Average age | 43 | 44 |
| Gender ratio | Male, 32.2% Female, 67.8% | Male, 48.7% Female, 51.3% |
| Race ratio | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% | Black or African American, 9.9% Unknown, 2.5% Hispanic or Latino, 9.3% Asian, 5.5% White, 72.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 4% | 9% |