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Senior mortgage consultant vs consumer loan underwriter

The differences between senior mortgage consultants and consumer loan underwriters can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a senior mortgage consultant and a consumer loan underwriter. Additionally, a consumer loan underwriter has an average salary of $53,525, which is higher than the $37,351 average annual salary of a senior mortgage consultant.

The top three skills for a senior mortgage consultant include origination, bank products and customer service. The most important skills for a consumer loan underwriter are financial statements, loan applications, and strong analytical.

Senior mortgage consultant vs consumer loan underwriter overview

Senior Mortgage ConsultantConsumer Loan Underwriter
Yearly salary$37,351$53,525
Hourly rate$17.96$25.73
Growth rate4%4%
Number of jobs15,96117,495
Job satisfaction--
Most common degreeBachelor's Degree, 74%Bachelor's Degree, 66%
Average age4545
Years of experience66

Senior mortgage consultant vs consumer loan underwriter salary

Senior mortgage consultants and consumer loan underwriters have different pay scales, as shown below.

Senior Mortgage ConsultantConsumer Loan Underwriter
Average salary$37,351$53,525
Salary rangeBetween $23,000 And $60,000Between $37,000 And $76,000
Highest paying City-New York, NY
Highest paying state-New York
Best paying company-Marcus & Millichap
Best paying industry-Finance

Differences between senior mortgage consultant and consumer loan underwriter education

There are a few differences between a senior mortgage consultant and a consumer loan underwriter in terms of educational background:

Senior Mortgage ConsultantConsumer Loan Underwriter
Most common degreeBachelor's Degree, 74%Bachelor's Degree, 66%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Senior mortgage consultant vs consumer loan underwriter demographics

Here are the differences between senior mortgage consultants' and consumer loan underwriters' demographics:

Senior Mortgage ConsultantConsumer Loan Underwriter
Average age4545
Gender ratioMale, 71.3% Female, 28.7%Male, 42.6% Female, 57.4%
Race ratioBlack or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5%Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 15.9% Asian, 6.4% White, 63.5% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between senior mortgage consultant and consumer loan underwriter duties and responsibilities

Senior mortgage consultant example responsibilities.

  • Manage files from origination to closing, and accurately organize and review all documents for processing.
  • Originate and process mortgage loans (FHA, VA, conforming and non-conforming loans).
  • Full accountability for loan origination, underwriting and servicing, successfully cultivating a large and intensely-loyal client base.
  • Price out loans, retrieve and submit RESPA & income documentation to the bank (s).
  • Negotiate an exclusive marketing agreement with 2 REMAX offices and a builder that generate over 1.5 million/month in FHA business.
  • Establish communication with escrow officers, processors, loan officers and underwriter regarding loan status and/or missing information.
  • Show more

Consumer loan underwriter example responsibilities.

  • Ensure proper coding are accomplished by determining the appropriate code in accordance with ICD-9 and CPT guidelines.
  • Innovate technical solutions, including development of complex macros within MSP, to automate work and reduce manual processes
  • Manage a pipeline of fund TRID loans for completeness so they can be deliver and purchase by the required investor.
  • Manage the organization's HMDA data and accurately complete the government reporting annually.
  • Render underwritten decisions and subsequently clear conditions per underwriting policies and procedures, including knowledge of FNMA and FMLMC guidelines.
  • Generate and distribute IRB committee meeting minutes in accordance with appropriate federal regulations.
  • Show more

Senior mortgage consultant vs consumer loan underwriter skills

Common senior mortgage consultant skills
  • Origination, 9%
  • Bank Products, 8%
  • Customer Service, 7%
  • SR, 7%
  • Product Knowledge, 7%
  • Customer Satisfaction, 6%
Common consumer loan underwriter skills
  • Financial Statements, 12%
  • Loan Applications, 11%
  • Strong Analytical, 8%
  • Credit Reports, 7%
  • Credit Decisions, 6%
  • Compliance Reviews, 4%

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