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The differences between senior underwriters and mortgage consultants 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 $38,934 average annual salary of a mortgage consultant.
The top three skills for a senior underwriter include customer service, portfolio and underwriting guidelines. The most important skills for a mortgage consultant are customer service, origination, and NMLS.
| Senior Underwriter | Mortgage Consultant | |
| Yearly salary | $69,375 | $38,934 |
| Hourly rate | $33.35 | $18.72 |
| Growth rate | -4% | 4% |
| Number of jobs | 6,726 | 24,057 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| 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 mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Senior underwriters and mortgage consultants have different pay scales, as shown below.
| Senior Underwriter | Mortgage Consultant | |
| Average salary | $69,375 | $38,934 |
| Salary range | Between $44,000 And $108,000 | Between $23,000 And $63,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Capital Group | Centennial Bank |
| Best paying industry | Insurance | Finance |
There are a few differences between a senior underwriter and a mortgage consultant in terms of educational background:
| Senior Underwriter | Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior underwriters' and mortgage consultants' demographics:
| Senior Underwriter | Mortgage Consultant | |
| Average age | 44 | 45 |
| Gender ratio | Male, 42.0% Female, 58.0% | Male, 58.2% Female, 41.8% |
| 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 8% |