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The differences between senior underwriters and foreclosure specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior underwriter has an average salary of $69,375, which is higher than the $41,088 average annual salary of a foreclosure specialist.
The top three skills for a senior underwriter include customer service, portfolio and underwriting guidelines. The most important skills for a foreclosure specialist are foreclosure process, insurer, and loss mitigation.
| Senior Underwriter | Foreclosure Specialist | |
| Yearly salary | $69,375 | $41,088 |
| Hourly rate | $33.35 | $19.75 |
| Growth rate | -4% | -3% |
| Number of jobs | 6,726 | 8,166 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 50% |
| Average age | 44 | 43 |
| Years of experience | - | - |
A senior underwriter is responsible for evaluating the eligibility of an applicant for loan application processing. Senior underwriters verify the applicant's information, including their credit score and other valid documents, ensuring that the applicant fulfills the loan application's parameters. They check the applicant's portfolios and provide them the next necessary steps and the alternatives for loan types. A senior underwriter must have excellent knowledge of the loan processes and underwriting procedures to analyze applications and make accurate decisions.
A foreclosure specialist is a real estate professional that manages foreclosure processes. Serving in this role means that you will have responsibilities such as ensuring that aspects related to foreclosure meet all government regulations from the federal level to the state level and that deadlines are met and duly communicated to all parties involved. You may have to work with mortgage holders that run the risk of default, in which case you will be tasked with renegotiating loan agreement changes.
Senior underwriters and foreclosure specialists have different pay scales, as shown below.
| Senior Underwriter | Foreclosure Specialist | |
| Average salary | $69,375 | $41,088 |
| Salary range | Between $44,000 And $108,000 | Between $28,000 And $58,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Capital Group | - |
| Best paying industry | Insurance | - |
There are a few differences between a senior underwriter and a foreclosure specialist in terms of educational background:
| Senior Underwriter | Foreclosure Specialist | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior underwriters' and foreclosure specialists' demographics:
| Senior Underwriter | Foreclosure Specialist | |
| Average age | 44 | 43 |
| Gender ratio | Male, 42.0% Female, 58.0% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 9.3% Unknown, 2.5% Hispanic or Latino, 9.4% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 9% | 4% |