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The differences between mortgage underwriters and loan officers assistant 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 officer assistant. Additionally, a mortgage underwriter has an average salary of $55,721, which is higher than the $45,681 average annual salary of a loan officer assistant.
The top three skills for a mortgage underwriter include customer service, work ethic and FHA. The most important skills for a loan officer assistant are customer service, origination, and loan process.
| Mortgage Underwriter | Loan Officer Assistant | |
| Yearly salary | $55,721 | $45,681 |
| Hourly rate | $26.79 | $21.96 |
| Growth rate | 4% | 4% |
| Number of jobs | 9,260 | 65,094 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 53% |
| 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.
Loan Officer Assistants assist loan officers in processing the loan applications of clients. Loan officer assistants primarily work on the administrative tasks in the departments. They are in charge of managing documents, updating databases, and sorting files. Loan officer assistants may be assigned to review applications of clients. They should check whether both the application form and the supplementary documents are complete. They may also assess whether the clients meet the requirements for the loan. Upon checking, they manage the documents and package them for submission to the lender. Loan officer assistance may also be assigned to coordinate with lenders and update in-house policies according to the lenders' policies.
Mortgage underwriters and loan officers assistant have different pay scales, as shown below.
| Mortgage Underwriter | Loan Officer Assistant | |
| Average salary | $55,721 | $45,681 |
| Salary range | Between $38,000 And $80,000 | Between $28,000 And $72,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New Mexico | New York |
| Best paying company | CTBC Bank | Stifel Financial |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage underwriter and a loan officer assistant in terms of educational background:
| Mortgage Underwriter | Loan Officer Assistant | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | SUNY at Binghamton |
Here are the differences between mortgage underwriters' and loan officers assistant' demographics:
| Mortgage Underwriter | Loan Officer Assistant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 39.3% Female, 60.7% | Male, 28.8% Female, 71.2% |
| 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, 9.1% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.8% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |