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Underwriter vs underwriting manager

The differences between underwriters and underwriting managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriting manager has an average salary of $77,426, which is higher than the $61,751 average annual salary of an underwriter.

The top three skills for an underwriter include customer service, investor guidelines and mortgage loans. The most important skills for an underwriting manager are customer service, portfolio, and risk management.

Underwriter vs underwriting manager overview

UnderwriterUnderwriting Manager
Yearly salary$61,751$77,426
Hourly rate$29.69$37.22
Growth rate-4%17%
Number of jobs8,51044,546
Job satisfaction3-
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 73%
Average age4446
Years of experience-8

What does an underwriter do?

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.

What does an underwriting manager do?

Underwriting managers work mostly in the financial and insurance industries to provide management for all underwriting activities, including loan applications and insurance products. They oversee a team of associate-level staff, assigning them insurance or loan plans to evaluate and underwrite, ensuring that they comprehend expectations and timelines, and provide support by answering questions. They are team leaders, leading associate-level underwriters altogether activities, supporting risk management, and financial due diligence activities. In addition, underwriting managers also play a significant role in developing and enacting policies and procedures in regional offices.

Underwriter vs underwriting manager salary

Underwriters and underwriting managers have different pay scales, as shown below.

UnderwriterUnderwriting Manager
Average salary$61,751$77,426
Salary rangeBetween $39,000 And $96,000Between $50,000 And $119,000
Highest paying CityBoston, MASan Francisco, CA
Highest paying stateMassachusettsNew York
Best paying companyGoogleW. R. Berkley
Best paying industryManufacturingInsurance

Differences between underwriter and underwriting manager education

There are a few differences between an underwriter and an underwriting manager in terms of educational background:

UnderwriterUnderwriting Manager
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 73%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Underwriter vs underwriting manager demographics

Here are the differences between underwriters' and underwriting managers' demographics:

UnderwriterUnderwriting Manager
Average age4446
Gender ratioMale, 38.4% Female, 61.6%Male, 49.5% Female, 50.5%
Race ratioBlack 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, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.6% American Indian and Alaska Native, 0.3%
LGBT Percentage9%11%

Differences between underwriter and underwriting manager duties and responsibilities

Underwriter example responsibilities.

  • Attain Jr. underwriter status and AUS underwriting authority.
  • Manage AUS findings and analyze approvals and results accordingly.
  • Complete initial review of appraisals, borrower credit documents, and DU/LP findings according to Fannie Mae and investor guidelines.
  • Research and develop SBA program.
  • Work on project putting together HPR policy.
  • Resolve issues preventing final disposition of REO properties.
    • Show more

Underwriting manager example responsibilities.

  • Manage the company underwriting department and coordinate origination efforts within OAIC, Ocwen's REIT.
  • Manage the execution of underwriting, portfolio analysis and account- base decision making in accordance with establish guidelines and processes.
  • Review of government sponsor (FHA, VA, USDA) loans to ensure adherence to specific policies and procedures.
  • Reduce number of loan input errors per file with quality underwrites, in which are further approve by FNMA & FHLMC
  • Direct all underwriting activities in the origination of home equity loans and lines of credit.
  • Train all staff members on successful sales techniques to help facilitate consumer, conventional, FHA, commercial mortgage loans.
    • Show more

Underwriter vs underwriting manager skills

Common underwriter skills
  • Customer Service, 11%
  • Investor Guidelines, 6%
  • Mortgage Loans, 5%
  • Underwriting Guidelines, 5%
  • Financial Statements, 4%
  • FHA, 3%
Common underwriting manager skills
  • Customer Service, 13%
  • Portfolio, 7%
  • Risk Management, 6%
  • Underwriting Guidelines, 6%
  • Financial Statements, 4%
  • Underwriting Process, 3%

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Updated January 8, 2025

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