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The differences between mortgage assistants and underwriting assistants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a mortgage assistant, becoming an underwriting assistant takes usually requires 1-2 years. Additionally, an underwriting assistant has an average salary of $41,000, which is higher than the $33,961 average annual salary of a mortgage assistant.
The top three skills for a mortgage assistant include data entry, mortgage loans and loan applications. The most important skills for an underwriting assistant are insurance policies, data entry, and loss runs.
| Mortgage Assistant | Underwriting Assistant | |
| Yearly salary | $33,961 | $41,000 |
| Hourly rate | $16.33 | $19.71 |
| Growth rate | -3% | -3% |
| Number of jobs | 5,147 | 1,967 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 54% |
| Average age | 42 | 44 |
| Years of experience | 4 | 2 |
A mortgage assistant, sometimes referred to as a loan officer assistant, works directly with clients and members of the office to meet set organization goals. Their key responsibilities include reviewing loan applications, preparing letters for credit for clients, offering administrative support to supervising loan officers, and providing customer service to clients. They are also required to use computer programs to track loan processing and billing. This role requires customer service experience and knowledge of relevant computer software.
An underwriting assistant provides additional support to the underwriter in determining whether clients can qualify for insurance policies, products, mortgage, loans, or other financial services. Job tasks could vary, but often include administrative duties, as well as organizing and arranging loan approval packages. This entails reviewing and gathering financial and statistical information. It also involves communicating with clients to get the necessary information, such as gathering credit history and other relevant background information to complete the screening process and other related transactions.
Mortgage assistants and underwriting assistants have different pay scales, as shown below.
| Mortgage Assistant | Underwriting Assistant | |
| Average salary | $33,961 | $41,000 |
| Salary range | Between $26,000 And $43,000 | Between $29,000 And $56,000 |
| Highest paying City | Rockville, MD | New York, NY |
| Highest paying state | West Virginia | New Jersey |
| Best paying company | DFCU Financial | Berkshire Hathaway |
| Best paying industry | Professional | - |
There are a few differences between a mortgage assistant and an underwriting assistant in terms of educational background:
| Mortgage Assistant | Underwriting Assistant | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 54% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Western Carolina University |
Here are the differences between mortgage assistants' and underwriting assistants' demographics:
| Mortgage Assistant | Underwriting Assistant | |
| Average age | 42 | 44 |
| Gender ratio | Male, 21.6% Female, 78.4% | Male, 20.2% Female, 79.8% |
| Race ratio | Black or African American, 12.0% Unknown, 4.4% Hispanic or Latino, 13.7% Asian, 7.9% White, 61.5% American Indian and Alaska Native, 0.4% | Black or African American, 13.8% Unknown, 4.3% Hispanic or Latino, 14.4% Asian, 3.9% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 11% |