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The differences between mortgage underwriters and loan administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a mortgage underwriter and a loan administrator. Additionally, a mortgage underwriter has an average salary of $55,721, which is higher than the $42,859 average annual salary of a loan administrator.
The top three skills for a mortgage underwriter include customer service, work ethic and FHA. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Mortgage Underwriter | Loan Administrator | |
| Yearly salary | $55,721 | $42,859 |
| Hourly rate | $26.79 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 9,260 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 58% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A mortgage underwriter is responsible for reviewing mortgage loan applications and deciding on its approval or rejection by evaluating the submitted documents and the applicant's eligibility. Mortgage underwriters create assessment reports, research on the applicant's credit score, analyze potential loan risk, and request for additional documentation as needed. A mortgage underwriter must have extensive knowledge of the loan disciplines and processes, including its legislative procedures and regulations, to provide accurate decisions or discuss necessary findings to the loan officer for advice.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Mortgage underwriters and loan administrators have different pay scales, as shown below.
| Mortgage Underwriter | Loan Administrator | |
| Average salary | $55,721 | $42,859 |
| Salary range | Between $38,000 And $80,000 | Between $31,000 And $59,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New Mexico | Hawaii |
| Best paying company | CTBC Bank | BNY Mellon |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage underwriter and a loan administrator in terms of educational background:
| Mortgage Underwriter | Loan Administrator | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage underwriters' and loan administrators' demographics:
| Mortgage Underwriter | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 39.3% Female, 60.7% | Male, 23.2% Female, 76.8% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.4% 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, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |