The average salary for a Loan Underwriter, Mortgage is $64,469.
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$45k - $87k
$1k - $15k
$460 - $10k
$1k - $14k
$43k - $90k
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Job Description for Loan Underwriter, Mortgage
Mortgage loan underwriters are responsible for approving or rejecting mortgages. To make this decision, the mortgage underwriter must generate a risk report and demonstrate how the contents of the report are within the lender's guidelines for approval, or how the contents of the report fail to meet the guidelines. The first thing that mortgage underwriters do is obtain and review credit reports for prospective debtors. Next, they obtain information from prospective debtors about their income, an…Read more
Loan Underwriter, Mortgage Tasks
- Analyze credit data and financial statements of individuals or firms to determine the risk involved in extending credit or lending money.
- Prepare reports based on the results from the risk analysis for use in decision-making.
Popular Employer Salaries for Loan Underwriter, Mortgage
The top respondents for the job title Loan Underwriter, Mortgage are from the companies Wells Fargo Home Mortgage, J.P. Morgan Chase & Co. (JPMCC) and Wells Fargo & Co.. Reported salaries are highest at Chase Bank where the average pay is $66,129. Other companies that offer high salaries for this role include J.P. Morgan Chase & Co. (JPMCC) and Wells Fargo Home Mortgage, earning around $61,416 and $60,366, respectively. Bank of America Corp. (BOFA) pays the lowest at around $54,349. Wells Fargo & Co. and Primary Residential Mortgage, Inc. also pay on the lower end of the scale, paying $55,000 and $58,750, respectively.
Explore the most common career paths for Loan Underwriter, Mortgage. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Loan Underwriter, Mortgage
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Loan Underwriter, Mortgage Job Listings
Popular Skills for Loan Underwriter, Mortgage
Skills in Residential Loans and Risk Management / Risk Control are correlated to pay that is above average. Skills that pay less than market rate include Financial Analysis, Mortgage Loans and Loan Underwriting.
Pay by Experience Level for Loan Underwriter, Mortgage
An entry-level Loan Underwriter, Mortgage with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $49,643 based on 41 salaries. An early career Loan Underwriter, Mortgage with 1-4 years of experience earns an average total compensation of $55,417 based on 379 salaries. A mid-career Loan Underwriter, Mortgage with 5-9 years of experience earns an average total compensation of $63,507 based on 335 salaries. An experienced Loan Underwriter, Mortgage with 10-19 years of experience earns an average total compensation of $68,854 based on 452 salaries. In their late career (20 years and higher), employees earn an average total compensation of $74,881.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Loan Underwriter, Mortgage in their job title in Dallas, Texas earn an average of 16.2% more than the national average. These job titles also find higher than average salaries in Charlotte, North Carolina (15.6% more) and Atlanta, Georgia (9.1% more). The lowest salaries can be found in Chicago, Illinois (12.7% less).
Years of Experience
This data is based on 1,571 survey responses.
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