Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between mortgage underwriters and loan originators 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 originator. Additionally, a mortgage underwriter has an average salary of $55,721, which is higher than the $41,291 average annual salary of a loan originator.
The top three skills for a mortgage underwriter include customer service, work ethic and FHA. The most important skills for a loan originator are customer service, origination, and FHA.
| Mortgage Underwriter | Loan Originator | |
| Yearly salary | $55,721 | $41,291 |
| Hourly rate | $26.79 | $19.85 |
| Growth rate | 4% | 4% |
| Number of jobs | 9,260 | 10,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 61% |
| 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 Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
Mortgage underwriters and loan originators have different pay scales, as shown below.
| Mortgage Underwriter | Loan Originator | |
| Average salary | $55,721 | $41,291 |
| Salary range | Between $38,000 And $80,000 | Between $28,000 And $60,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New Mexico | South Dakota |
| Best paying company | CTBC Bank | Centennial Bank |
| Best paying industry | Professional | Transportation |
There are a few differences between a mortgage underwriter and a loan originator in terms of educational background:
| Mortgage Underwriter | Loan Originator | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between mortgage underwriters' and loan originators' demographics:
| Mortgage Underwriter | Loan Originator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 39.3% Female, 60.7% | Male, 54.0% Female, 46.0% |
| 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, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |