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The differences between underwriting specialists and mortgage specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriting specialist has an average salary of $63,325, which is higher than the $38,757 average annual salary of a mortgage specialist.
The top three skills for an underwriting specialist include customer service, underwriting guidelines and financial statements. The most important skills for a mortgage specialist are customer service, residential mortgage loans, and origination.
| Underwriting Specialist | Mortgage Specialist | |
| Yearly salary | $63,325 | $38,757 |
| Hourly rate | $30.44 | $18.63 |
| Growth rate | -4% | -3% |
| Number of jobs | 25,164 | 26,471 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 55% |
| Average age | 44 | 42 |
| Years of experience | - | 4 |
An underwriting specialist is responsible for reviewing clients' applications in availing financial services and determining their eligibility by analyzing credit scores and risk potential. Underwriting specialists record all necessary information and may ask for additional requirements for further investigation. They assess policy applications and implement terms and conditions upon approval and ensure that the clients understood the process to prevent miscommunication and payment delays. An underwriting specialist must have extensive knowledge of the loan and insurance disciplines to identify coverage and limitations for efficient contract negotiations.
Mortgage specialists are professionals who work with lending institutions to identify the best lending product for their clients in exchange for taking the title of the debtors' properties. These specialists must process mortgage loan applications by reviewing their paperwork to ensure accuracy and completeness before submitting for approval. They should monitor accounts during the bankruptcy proceedings to ensure that the rights of their clients are protected. Mortgage specialists are also required to guide associates regarding procedural guidelines from FNMA, FHLMC, and MHA.
Underwriting specialists and mortgage specialists have different pay scales, as shown below.
| Underwriting Specialist | Mortgage Specialist | |
| Average salary | $63,325 | $38,757 |
| Salary range | Between $39,000 And $101,000 | Between $29,000 And $51,000 |
| Highest paying City | Boston, MA | Oakland, CA |
| Highest paying state | Massachusetts | Washington |
| Best paying company | AIG | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between an underwriting specialist and a mortgage specialist in terms of educational background:
| Underwriting Specialist | Mortgage Specialist | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriting specialists' and mortgage specialists' demographics:
| Underwriting Specialist | Mortgage Specialist | |
| Average age | 44 | 42 |
| Gender ratio | Male, 39.0% Female, 61.0% | Male, 39.3% Female, 60.7% |
| Race ratio | Black or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 10.0% Asian, 5.8% White, 72.4% American Indian and Alaska Native, 0.4% | Black or African American, 13.3% Unknown, 4.4% Hispanic or Latino, 14.2% Asian, 7.5% White, 60.2% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 7% |