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The differences between junior underwriters and mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a junior underwriter and a mortgage consultant. Additionally, a junior underwriter has an average salary of $51,782, which is higher than the $38,934 average annual salary of a mortgage consultant.
The top three skills for a junior underwriter include loan programs, income documentation and credit reports. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Junior Underwriter | Mortgage Consultant | |
| Yearly salary | $51,782 | $38,934 |
| Hourly rate | $24.90 | $18.72 |
| Growth rate | 4% | 4% |
| Number of jobs | 19,456 | 24,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 67% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Working alongside senior underwriters, a junior underwriter is in charge of performing research and analysis to determine the eligibility of clients for insurance products and services. Their responsibilities include gathering and analyzing requirements, inspecting financial histories, participating in handling underwriting conditions, and monitoring current and past loans of a client. Should there be any complicated issues and concerns, they must report to the senior underwriter right away. Furthermore, a junior underwriter must carry out tasks while adhering to the company's policies and regulations.
A mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Junior underwriters and mortgage consultants have different pay scales, as shown below.
| Junior Underwriter | Mortgage Consultant | |
| Average salary | $51,782 | $38,934 |
| Salary range | Between $34,000 And $77,000 | Between $23,000 And $63,000 |
| Highest paying City | Hicksville, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Chubb | Centennial Bank |
| Best paying industry | Insurance | Finance |
There are a few differences between a junior underwriter and a mortgage consultant in terms of educational background:
| Junior Underwriter | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior underwriters' and mortgage consultants' demographics:
| Junior Underwriter | Mortgage Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 58.2% Female, 41.8% |
| Race ratio | Black or African American, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |