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The differences between underwriters and foreclosure specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriter has an average salary of $61,751, which is higher than the $41,088 average annual salary of a foreclosure specialist.
The top three skills for an underwriter include customer service, investor guidelines and mortgage loans. The most important skills for a foreclosure specialist are foreclosure process, insurer, and loss mitigation.
| Underwriter | Foreclosure Specialist | |
| Yearly salary | $61,751 | $41,088 |
| Hourly rate | $29.69 | $19.75 |
| Growth rate | -4% | -3% |
| Number of jobs | 8,510 | 8,166 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 50% |
| Average age | 44 | 43 |
| Years of experience | - | - |
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
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.
Underwriters and foreclosure specialists have different pay scales, as shown below.
| Underwriter | Foreclosure Specialist | |
| Average salary | $61,751 | $41,088 |
| Salary range | Between $39,000 And $96,000 | Between $28,000 And $58,000 |
| Highest paying City | Boston, MA | - |
| Highest paying state | Massachusetts | - |
| Best paying company | - | |
| Best paying industry | Manufacturing | - |
There are a few differences between an underwriter and a foreclosure specialist in terms of educational background:
| Underwriter | Foreclosure Specialist | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriters' and foreclosure specialists' demographics:
| Underwriter | Foreclosure Specialist | |
| Average age | 44 | 43 |
| Gender ratio | Male, 38.4% Female, 61.6% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% 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% |