Mortgage broker vs underwriter

The differences between mortgage brokers and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a mortgage broker has an average salary of $124,376, which is higher than the $61,751 average annual salary of an underwriter.

The top three skills for a mortgage broker include loan applications, FHA and va. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.

Mortgage broker vs underwriter overview

	Mortgage Broker	Underwriter
Yearly salary	$124,376	$61,751
Hourly rate	$59.80	$29.69
Growth rate	4%	-4%
Number of jobs	12,782	8,510
Job satisfaction	-	3
Most common degree	Bachelor's Degree, 64%	Bachelor's Degree, 66%
Average age	45	44
Years of experience	6	-

Mortgage broker vs underwriter salary

Mortgage brokers and underwriters have different pay scales, as shown below.

	Mortgage Broker	Underwriter
Average salary	$124,376	$61,751
Salary range	Between $89,000 And $172,000	Between $39,000 And $96,000
Highest paying City	-	Boston, MA
Highest paying state	-	Massachusetts
Best paying company	-	Google
Best paying industry	-	Manufacturing

Differences between mortgage broker and underwriter education

There are a few differences between a mortgage broker and an underwriter in terms of educational background:

	Mortgage Broker	Underwriter
Most common degree	Bachelor's Degree, 64%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Mortgage broker vs underwriter demographics

Here are the differences between mortgage brokers' and underwriters' demographics:

	Mortgage Broker	Underwriter
Average age	45	44
Gender ratio	Male, 67.5% Female, 32.5%	Male, 38.4% Female, 61.6%
Race ratio	Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5%	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	8%	9%

Differences between mortgage broker and underwriter duties and responsibilities

Mortgage broker example responsibilities.

Educate clients on mortgage contractual guidelines and process FHA, VA, and conventional loans reviewing files for submission to underwriting.
Foster deeper client relationships with commercial and residential lenders driving referrals by delivering excellent customer service.
Originate residential conventional, VA, home equity, commercial and construction loans.
Establish a network of contacts with community banks, appraisers, lenders, and other brokers.
Originate, process, and submit all types of commercial and SBA loans to the applicable lender.
Develop business plan, raise investment capital, create business processes, and obtain licensing, VA certification, HUD approval.

Underwriter example responsibilities.

Attain Jr. underwriter status and AUS underwriting authority.
Manage AUS findings and analyze approvals and results accordingly.
Complete initial review of appraisals, borrower credit documents, and DU/LP findings according to Fannie Mae and investor guidelines.
Research and develop SBA program.
Work on project putting together HPR policy.
Resolve issues preventing final disposition of REO properties.

Mortgage broker vs underwriter skills

Common mortgage broker skills

Loan Applications, 14%
FHA, 8%
Va, 8%
Loan Programs, 5%
Credit Reports, 5%
Loan Process, 5%

Common underwriter skills

Customer Service, 11%
Investor Guidelines, 6%
Mortgage Loans, 5%
Underwriting Guidelines, 5%
Financial Statements, 4%
FHA, 3%