Mortgage underwriter vs mortgage broker

The differences between mortgage underwriters and mortgage brokers 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 mortgage broker. Additionally, a mortgage broker has an average salary of $124,376, which is higher than the $55,721 average annual salary of a mortgage underwriter.

The top three skills for a mortgage underwriter include customer service, work ethic and FHA. The most important skills for a mortgage broker are loan applications, FHA, and va.

Mortgage underwriter vs mortgage broker overview

	Mortgage Underwriter	Mortgage Broker
Yearly salary	$55,721	$124,376
Hourly rate	$26.79	$59.80
Growth rate	4%	4%
Number of jobs	9,260	12,782
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 64%
Average age	45	45
Years of experience	6	6

Mortgage underwriter vs mortgage broker salary

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

	Mortgage Underwriter	Mortgage Broker
Average salary	$55,721	$124,376
Salary range	Between $38,000 And $80,000	Between $89,000 And $172,000
Highest paying City	New York, NY	-
Highest paying state	New Mexico	-
Best paying company	CTBC Bank	-
Best paying industry	Professional	-

Differences between mortgage underwriter and mortgage broker education

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

	Mortgage Underwriter	Mortgage Broker
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 64%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Mortgage underwriter vs mortgage broker demographics

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

	Mortgage Underwriter	Mortgage Broker
Average age	45	45
Gender ratio	Male, 39.3% Female, 60.7%	Male, 67.5% Female, 32.5%
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, 16.1% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	8%	8%

Differences between mortgage underwriter and mortgage broker duties and responsibilities

Mortgage underwriter example responsibilities.

Manage AUS findings and analyze approvals and results accordingly.
Involve with USDA and NH housing loans.
Obtain NMLS license in 2011 and real estate license in 2005.
Prepare and respond to compliance HMDA, NMLS, and ECOA relate inquiries.
Audit and analyze TIL, GFE and HUD documentation for accuracy to insure compliance.
Review MHA and FHA guidelines and calculate proper income to approve or decline loans for a temporary or permanent modification.

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.

Mortgage underwriter vs mortgage broker skills

Common mortgage underwriter skills

Customer Service, 7%
Work Ethic, 6%
FHA, 5%
Va, 5%
Excellent Organizational, 4%
Excellent Interpersonal, 4%

Common mortgage broker skills

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