What is a Senior Underwriter

A senior underwriter is in charge of evaluating the eligibility of an applicant for loan application processing. For assigning territory, you need to achieve success in meeting and exceeding profitability and production goals. To ensure accuracy and proper recording of mortgages and UCC filings, you are in charge of checking and monitoring every detail. One of the objectives of your job is to meet all relative underwriting and lender guidelines by calculating debt to income ratios, CLTV, and LTV.

In addition, you must be able to determine debt-to-income ratios by using a manual LTV calculator, credit reviews, and manual income calculators. You are to ensure efficiency, teaching, training, and implementation with underwriters on the LIS system. You are in charge of overseeing and reviewing UCC searches, binders, insurance policies, contracts, and title reports. Just a reminder, you need to make use of the VA certificate and DE certificate.

A senior underwriter has to be analytical, have good interpersonal skills, and solve simple math problems. The average salary of a senior underwriter is $81,344 yearly or $39 per hour. The educational requirement of a senior underwriter is a bachelor's degree in a relevant field with years of experience in the insurance industry. Those relevant fields include Finance, Economics, Mathematics, and Accounting.

There is more than meets the eye when it comes to being a senior underwriter. For example, did you know that they make an average of $37.96 an hour? That's $78,960 a year!

Between 2018 and 2028, the career is expected to grow -5% and produce -5,400 job opportunities across the U.S.

What Does a Senior Underwriter Do

There are certain skills that many senior underwriters have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, math skills and interpersonal skills.

Learn more about what a Senior Underwriter does

How To Become a Senior Underwriter

If you're interested in becoming a senior underwriter, one of the first things to consider is how much education you need. We've determined that 70.5% of senior underwriters have a bachelor's degree. In terms of higher education levels, we found that 8.4% of senior underwriters have master's degrees. Even though most senior underwriters have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a senior underwriter. When we researched the most common majors for a senior underwriter, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on senior underwriter resumes include master's degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a senior underwriter. In fact, many senior underwriter jobs require experience in a role such as underwriter. Meanwhile, many senior underwriters also have previous career experience in roles such as mortgage underwriter or senior loan processor.

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Average Salary
$78,960
Average Salary
Job Growth Rate
-5%
Job Growth Rate
Job Openings
6,025
Job Openings
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Senior Underwriter Career Paths

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Average Salary for a Senior Underwriter

Senior Underwriters in America make an average salary of $78,960 per year or $38 per hour. The top 10 percent makes over $119,000 per year, while the bottom 10 percent under $52,000 per year.
Average Salary
$78,960
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Senior Underwriter Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Senior Underwriter. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Senior Underwriter Resume

At Zippia, we went through countless Senior Underwriter resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Senior Underwriter Resume Examples And Templates

Senior Underwriter Demographics

Senior Underwriter Gender Statistics

female

55.5 %

male

41.1 %

unknown

3.3 %

Senior Underwriter Ethnicity Statistics

White

71.4 %

Black or African American

9.8 %

Hispanic or Latino

9.7 %

Senior Underwriter Foreign Languages Spoken Statistics

Spanish

52.8 %

Chinese

5.6 %

Russian

5.6 %
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Senior Underwriter Education

Senior Underwriter Majors

37.2 %
13.8 %

Senior Underwriter Degrees

Bachelors

70.5 %

Associate

13.0 %

Masters

8.4 %

Top Colleges for Senior Underwriters

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Bentley University

Waltham, MA • Private

In-State Tuition
$49,880
Enrollment
4,177

8. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

9. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

10. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339
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Top Skills For a Senior Underwriter

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 12.3% of senior underwriters listed underwriting guidelines on their resume, but soft skills such as analytical skills and math skills are important as well.

  • Underwriting Guidelines, 12.3%
  • Customer Service, 10.6%
  • Loan Portfolio, 9.3%
  • Portfolio, 7.6%
  • Financial Statements, 5.9%
  • Other Skills, 54.3%
  • See All Senior Underwriter Skills

12 Senior Underwriter RESUME EXAMPLES

Best States For a Senior Underwriter

Some places are better than others when it comes to starting a career as a senior underwriter. The best states for people in this position are New York, Massachusetts, Maryland, and Oklahoma. Senior underwriters make the most in New York with an average salary of $100,965. Whereas in Massachusetts and Maryland, they would average $93,536 and $86,827, respectively. While senior underwriters would only make an average of $86,288 in Oklahoma, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Kansas

Total Senior Underwriter Jobs:
126
Highest 10% Earn:
$143,000
Location Quotient:
1.22
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. New York

Total Senior Underwriter Jobs:
500
Highest 10% Earn:
$168,000
Location Quotient:
1.14
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Michigan

Total Senior Underwriter Jobs:
374
Highest 10% Earn:
$141,000
Location Quotient:
1.41
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Senior Underwriters

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Top Senior Underwriter Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ senior underwriters and discovered their number of senior underwriter opportunities and average salary. Through our research, we concluded that JPMorgan Chase was the best, especially with an average salary of $63,039. Wells Fargo follows up with an average salary of $55,095, and then comes Bank of America with an average of $54,506. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a senior underwriter. The employers include Allianz Life, Wells Fargo, and M&T; Bank

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Updated August 18, 2021