$63,482
Avg. Salary

Average additional compensation for this job:

Bonus

$5,082

Profit Sharing

$1,196

Commission

$4,500
The average pay for a Loan Underwriter, Mortgage is $61,879 per year. The highest paying skills associated with this job are Risk Management / Risk Control and Data Analysis.
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$44,164 - $85,372
$44K
$63K
$85K
MEDIAN: $63,482
10%
50%
90%

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$17.32 - $38.14
$17
$26
$38
MEDIAN: $25.98
10%
50%
90%

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$0$88K
Salary $44,164 - $85,372
Bonus $1,095 - $15,140
Profit Sharing $460 - $9,787
Commission $0.00 - $19,500
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,637 - $88,995
  • Country: United States
  • Currency: USD
  • Updated: 12 Aug 2018
  • Individuals Reporting: 1,386
Hourly Data $0$60
Hourly Rate $17.32 - $38.14
Hourly Tips $0.00
Overtime $30.57 - $60.29
Annual Data $0$88K
Bonus $1,095 - $15,140
Commission $0.00 - $19,500
Profit Sharing $460 - $9,787
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$42,637 - $88,995
  • Country: United States
  • Currency: USD
  • Updated: 12 Aug 2018
  • Individuals Reporting: 367

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, and possibly their assets and other debts. Afterward, mortgage underwriters will determine what collateral is available that can be used to back the mortgage.

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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

Common Career Paths for Loan Underwriter, Mortgage


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Loan Underwriter, Mortgage Job Listings

Popular Skills for Loan Underwriter, Mortgage

Pay by Experience Level for Loan Underwriter, Mortgage

Pay by Experience for a Loan Underwriter, Mortgage has a positive trend. An entry-level Loan Underwriter, Mortgage with less than 5 years of experience can expect to earn an average total compensation of $53,000 based on 381 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Loan Underwriter, Mortgage with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $62,000 based on 290 salaries. An experienced Loan Underwriter, Mortgage which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $67,000 based on 353 salaries. A Loan Underwriter, Mortgage with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $73,000 based on 211 salaries.

Pay Difference by Location

National Average: $63,891

Larger city markers indicate a job is popular in that location.

Loan Underwriter, Mortgage Reviews

Q: What is it like working as a Loan Underwriter, Mortgage?

Loan Underwriter, Mortgage in Little Rock:
"Great company but minimal pay at my branch."
Pros: Great tools
Cons:

Loan Underwriter, Mortgage in Miramar:
Pros: Helping people.
Cons: Tedious workgroup.

Related Job Salaries

Key Stats for Loan Underwriter, Mortgage

Gender

Female
73 %
Male
27 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 258 votes.
Less than 1 year
2%
1-4 years
25%
5-9 years
21%
10-19 years
29%
20 years or more
23%

Experience Affects Loan Underwriter, Mortgage Salaries

▲15%

▲5%

National Average
$64,000

▼3%

▼17%

Skills That Affect Loan Underwriter, Mortgage Salaries

Risk Management / Risk Control
▲21%

Data Analysis
▲14%

National Average
$64,000


Mortgage Loans
▼2%


UNDERWRITER
▼5%

Loan Processing
▼6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 258 votes.

Gender

Female
73 %
Male
27 %

Years of Experience

Less than 1 year
2%
1-4 years
25%
5-9 years
21%
10-19 years
29%
20 years or more
23%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 76%
vision benefits
Vision: 68%
no benefits
None: 13%