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The differences between mortgage analysts and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriter has an average salary of $61,751, which is higher than the $32,763 average annual salary of a mortgage analyst.
The top three skills for a mortgage analyst include origination, financial statements and excellent organizational. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Mortgage Analyst | Underwriter | |
| Yearly salary | $32,763 | $61,751 |
| Hourly rate | $15.75 | $29.69 |
| Growth rate | 4% | -4% |
| Number of jobs | 22,208 | 8,510 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 66% |
| Average age | 39 | 44 |
| Years of experience | 2 | - |
Mortgage analysts are financial professionals who are responsible for executing mortgage or loan applications by assessing financial risks and rewards. These analysts are required to analyze the financial and supporting documents on incoming applications to determine whether they are consistent with the internal and insurer policies. They must determine their borrowers' creditworthiness by evaluating property values based on appraised market prices. Mortgage analysts should also collaborate with credit bureaus and reporting agencies to investigate the credit ratings of loan applicants.
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
Mortgage analysts and underwriters have different pay scales, as shown below.
| Mortgage Analyst | Underwriter | |
| Average salary | $32,763 | $61,751 |
| Salary range | Between $13,000 And $77,000 | Between $39,000 And $96,000 |
| Highest paying City | New York, NY | Boston, MA |
| Highest paying state | New York | Massachusetts |
| Best paying company | Citi | |
| Best paying industry | - | Manufacturing |
There are a few differences between a mortgage analyst and an underwriter in terms of educational background:
| Mortgage Analyst | Underwriter | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage analysts' and underwriters' demographics:
| Mortgage Analyst | Underwriter | |
| Average age | 39 | 44 |
| Gender ratio | Male, 54.1% Female, 45.9% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 9.6% White, 69.3% American Indian and Alaska Native, 0.3% | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 11% | 9% |