Loan workout officer vs senior underwriter

The differences between loan workout 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 $46,768 average annual salary of a loan workout officer.

The top three skills for a loan workout officer include financial statements, commercial loans and SBA. The most important skills for a senior underwriter are customer service, portfolio, and underwriting guidelines.

Loan workout officer vs senior underwriter overview

	Loan Workout Officer	Senior Underwriter
Yearly salary	$46,768	$69,375
Hourly rate	$22.48	$33.35
Growth rate	4%	-4%
Number of jobs	61,309	6,726
Job satisfaction	4	-
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 71%
Average age	45	44
Years of experience	6	-

Loan workout officer vs senior underwriter salary

Loan workout officers and senior underwriters have different pay scales, as shown below.

	Loan Workout Officer	Senior Underwriter
Average salary	$46,768	$69,375
Salary range	Between $28,000 And $75,000	Between $44,000 And $108,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Capital Group
Best paying industry	-	Insurance

Differences between loan workout officer and senior underwriter education

There are a few differences between a loan workout officer and a senior underwriter in terms of educational background:

	Loan Workout Officer	Senior Underwriter
Most common degree	Bachelor's Degree, 68%	Bachelor's Degree, 71%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Loan workout officer vs senior underwriter demographics

Here are the differences between loan workout officers' and senior underwriters' demographics:

	Loan Workout Officer	Senior Underwriter
Average age	45	44
Gender ratio	Male, 72.9% Female, 27.1%	Male, 42.0% Female, 58.0%
Race ratio	Black or African American, 8.6% Unknown, 4.7% Hispanic or Latino, 16.6% Asian, 6.5% White, 63.2% 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%

Differences between loan workout officer and senior underwriter duties and responsibilities

Loan workout officer example responsibilities.

Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
Structure SBA repurchase packages with accurate liquidation and litigation financial plans.
Interact closely with the surveillance utilization and review team to audit medical record documentation in accordance with Medicaid regulations and guidelines.
Process trailing documents for initial and final GNMA certifications.

Senior underwriter example responsibilities.

Manage AUS findings and analyze approvals and results accordingly.
Perform underwriter approval/declines on FHA, VA, FmHA and conventional loan applications providing financing for one-to-four family residential properties.
Fix and n variable annuities.
Check for the accuracy and proper recording of UCC filings and mortgages.
Order and review flood searches, title reports, UCC searches, appraisals, insurance policies and binders, and contracts.
Review preliminary HUD-1 for accuracy.

Loan workout officer vs senior underwriter skills

Common loan workout officer skills

Financial Statements, 18%
Commercial Loans, 9%
SBA, 9%
Loan Portfolio, 8%
Cash Flow, 7%
Litigation, 7%

Common senior underwriter skills

Customer Service, 11%
Portfolio, 8%
Underwriting Guidelines, 5%
Strong Analytical, 4%
SR, 4%
Excellent Interpersonal, 4%

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Loan Workout Officer
Loan Workout Officer vs Senior Underwriter

Updated January 8, 2025

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