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The differences between senior underwriters and loan originators 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 $41,291 average annual salary of a loan originator.
The top three skills for a senior underwriter include customer service, portfolio and underwriting guidelines. The most important skills for a loan originator are customer service, origination, and FHA.
| Senior Underwriter | Loan Originator | |
| Yearly salary | $69,375 | $41,291 |
| Hourly rate | $33.35 | $19.85 |
| Growth rate | -4% | 4% |
| Number of jobs | 6,726 | 10,716 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 61% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
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 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.
Senior underwriters and loan originators have different pay scales, as shown below.
| Senior Underwriter | Loan Originator | |
| Average salary | $69,375 | $41,291 |
| Salary range | Between $44,000 And $108,000 | Between $28,000 And $60,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | South Dakota |
| Best paying company | Capital Group | Centennial Bank |
| Best paying industry | Insurance | Transportation |
There are a few differences between a senior underwriter and a loan originator in terms of educational background:
| Senior Underwriter | Loan Originator | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior underwriters' and loan originators' demographics:
| Senior Underwriter | Loan Originator | |
| Average age | 44 | 45 |
| Gender ratio | Male, 42.0% Female, 58.0% | Male, 54.0% Female, 46.0% |
| 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, 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 | 9% | 8% |