Based on recent jobs postings on Zippia, the average salary in the U.S. for an Underwriter is $61,751 per year or $30 per hour. The highest paying Underwriter jobs have a salary over $96,000 per year while the lowest paying Underwriter jobs pay $39,000 per year
A mortgage underwriter is responsible for reviewing mortgage loan applications and deciding on its approval or rejection by evaluating the submitted documents and the applicant's eligibility. Mortgage underwriters create assessment reports, research on the applicant's credit score, analyze potential loan risk, and request for additional documentation as needed. A mortgage underwriter must have extensive knowledge of the loan disciplines and processes, including its legislative procedures and regulations, to provide accurate decisions or discuss necessary findings to the loan officer for advice.
Account managers are employees who act as the bridge between the company they represent and the client of the company. They are assigned to handle specific clients so that the company will be able to tailor-fit any product or service according to the clients' requirements. Account managers are responsible for maintaining a harmonious relationship between the two parties by ensuring that any agreement made is amenable to both the company and the client. They are also responsible for ensuring that the company will be able to provide the needs of the client within any limitation that the client may have. Account managers also ensure that the company's reputation and well-being are always considered in any dealings.
Team leaders are responsible for managing a team for a specific project or work component. They primarily guide the team members and ensure that they are still working towards the set goals. Team leaders create strategies to reach goals, cascade the goals and strategies to team members, assign tasks, conduct periodic check-ups on the roadmap towards the goals, foster an engaging work environment, motivate and coach team members, monitor team performance, evaluate the strategies and come up with mitigating plans as needed. They are also responsible for reporting the team's progress to higher management.
A senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
Executive assistants are employees who are assigned to work under the supervision of company executives. They manage the activities of the executives they are assigned to by manning the executive's calendar, scheduling appointments, setting meetings, ensuring that the executives are familiar with their schedule for the day, and taking note of any deliverable that may be needed. They are also responsible for taking care of any document or paperwork that the executive needs, as well as preparing presentation materials or briefers for meetings. Executive assistants are also usually exposed to actual company operations to further understand how the business works and to be of better help to the executive.
Yes, you can make $100,000 per year as an underwriter. While possible, it is unlikely to earn over $100k as an underwriter because even higher-paid positions do not typically earn more than $86,000 per year. The average annual salary for an underwriter is $59,195. For example, underwriters in New York whose salaries are in the 90th percentile earn an average salary of $106,000.
Yes, underwriters are in demand in certain industries, such as mortgage loan underwriters. According to Mortgage Professional America (MPA), the mortgage industry saw an underwriter shortage in 2020, which forced a slow turnaround for loans.
No, it is not hard to become a mortgage underwriter. Since there are no educational requirements to become a mortgage underwriter, it is typically not a challenging field to get into, especially for people with the aptitude for the work.
No, underwriting is not a dying career. Although automated underwriting software has allowed applications to process more quickly, underwriters are still necessary for higher-level functions like providing analytical insight and decision-making.