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Salary and Benefits

Mortgage Underwriter
$59K-$73K / yr. (est.)
$60K
$66,622 / year
$73K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Mortgage Underwriter

What does a Mortgage Underwriter do?

As Mortgage Underwriters, we review all mortgage applications and supporting documents to ensure all necessary information is included for approval. We also research the applicant's employment and financial history to help determine the application's accuracy, estimate creditworthiness and risk of default on loan. We ensure that all information gathered is accurate and in compliance with all standards and regulations. We also communicate and document research for approval or rejection of loans, so clients and loan officers are always well-informed of decisions.

Core tasks:

  • analyze loan default risk and request additional information as necessary
  • authorize and underwrite loans
  • return the application with additional documentation to the loan officer to review

Insights

How Many Years of Experience Do Professionals Need Before Becoming Mortgage Underwriter?
On average, people work 5-7 years in other positions prior to becoming a Mortgage Underwriter.
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Loan OfficerMiami, FL - A year ago
I suppose it makes sense, as it allows for a well-rounded skillset. Still, it seems excessive, doesn't it?
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Credit CounselorSeattle, WA - A year ago
I don't mind the requirements as long as it ensures competent underwriters who can make informed decisions!
How Long Do Mortgage Underwriter Employees Typically Stay in Their Roles?
On average, Mortgage Underwriters works in this position for 3-5 years across multiple employers.
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Real Estate AgentHouston, TX - A year ago
Hey mortgage underwriters, do you even know how important it is to have someone stable to work with? Switching employers so often doesn't help anyone, especially not the buyers who rely on us!
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Construction WorkerMiami, FL - A year ago
Look, I've been working on the same site for over 5 years straight! If I can endure the tough work conditions, the mortgage underwriters better stick with one employer too! 😤
What Is the Job Hopper Score for Mortgage Underwriter Employees?
Frequent job changes in Mortgage Underwriter, indicating a willingness to change companies and roles more frequently.
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Mortgage UnderwriterMiami, FL - A year ago
I'm loving the freedom to explore new roles without being tied down to one company. 🔍
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Mortgage UnderwriterNew York City, NY - A year ago
Shameful! Mortgage Underwriters should take pride in their jobs and stay loyal to their employers. 😡

Career path

Path to job

Discover a Mortgage Underwriter's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Mortgage Underwriter typically studied at.
Arizona State University-Tempe
Michigan State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Mortgage Underwriter Employees?
Gender ratio in Mortgage Underwriter position: 0.434270251396648 Male and 0.565729748603352 Female. Age ratio in Mortgage Underwriter position: 16-20: 7%, 21-30: 50%, 31-40: 27%, 41-50: 12%, 51-60: 4%, 60+: 0%. Mortgage Underwriter position is predominantly female (56.6%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Mortgage UnderwriterPhiladelphia, PA - A year ago
Seriously? Mostly women in this job? Why is it that women dominate every profession? 🙄
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Mortgage UnderwriterPhoenix, AZ - A year ago
I'm 60+ but still ACTIVE. I could've been a mortgage underwriter, but I didn't even get a chance! 😠

Workplaces

Who Are the Top Employers for Mortgage Underwriter?
Top employers of Mortgage Underwriter position: Bank of America, JPMorgan Chase & Co., U.S. Bank. People who work in Mortgage Underwriter position most typically go on to work for the Bank of America.
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Credit AnalystDallas, TX - A year ago
I can't believe Bank of America is the major player for mortgage underwriters! I thought it would be a different bank.
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Loan OfficerSeattle, WA - A year ago
It's no surprise that Bank of America dominates the mortgage underwriting industry. I've always wanted to be part of their team!
Bank of America
JPMorgan Chase & Co.
U.S. Bank
What Industries Does Mortgage Underwriter Typically Have Experience In?
Industry Background: The most typical industries of Mortgage Underwriter: Finance & Insurance, Professional / Scientific / Technical, Real Estate / Rental / Leasing, Administrative & Support, Information Technology. Mortgage Underwriter employees most likely come from a Finance & Insurance industry background.
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Mortgage UnderwriterMiami, FL - A year ago
I'm a mortgage underwriter, not a magician! 🎩 It's frustrating when borrowers expect me to overlook discrepancies and just approve their loans. Sorry, but that's not how it works!
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Mortgage UnderwriterSeattle, WA - A year ago
I understand that applying for a mortgage can be stressful, but as a mortgage underwriter, my job is to protect the lender's interests. So no, I won't just approve any loan without proper evaluation. 💰

Find your job as Mortgage Underwriter

Discussion about Mortgage Underwriter

Want to know more about Mortgage Underwriter position?
Share your thoughts and ideas about Mortgage Underwriter position with others in our community.
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Is Mortgage Underwriter a female or male dominated profession?
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Isabella Holmes4 years ago
The women/men ratio is well balanced.
What is the typical age of people who work as a Mortgage Underwriter?
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Isabella Holmes4 years ago
The average age is 31
Is a Mortgage Underwriter considered to be a junior profession?
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Sophie Hayes4 years ago
6 years of experience is needed on average for a Mortgage Underwriter.
Which industries are highly likely to employ a Mortgage Underwriter?
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Sophie Hayes4 years ago
For a Mortgage Underwriter it’s the most likely to work in the Finance & Insurance.
What kind of higher education a Mortgage Underwriter need?
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Benjamin Gardner4 years ago
Most people have No higher education
Which company employs the most people in the Mortgage Underwriter role?
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Isabella Holmes4 years ago
Working as a Mortgage Underwriter it might be a good next step to work for Bank of America, JPMorgan Chase & Co., U.S. Bank, Wells Fargo and Wells Fargo Home Mortgage
How many years do people work as a Mortgage Underwriter before changing their role?
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Sophie Hayes4 years ago
You should work for 4 years before considering changing to another role.
How likely is it for people working as a Mortgage Underwriter to switch companies still working as a Mortgage Underwriter?
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Sophie Hayes4 years ago
We can say that a Mortgage Underwriter is likely a job hopper role.
What jobs do people work in before becoming a Mortgage Underwriter?
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Benjamin Gardner4 years ago
A Mortgage Underwriter probably worked as Underwriter, Mortgage Loan Processor or Loan Processor before
What are the typical next steps for someone working as a Mortgage Underwriter?
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Benjamin Gardner4 years ago
Working as Mortgage Underwriter consider Underwriter, Underwriting Manager or Consumer Loan Underwriter as a next step in your career.
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Disclaimer

informationLENSA generates certain information provided on this website by compiling and analyzing publicly available data and data from employees/former employees. All company names are the registered trademarks of their original owners. The use of any trade name or trademark does not imply any association with the third-party company. None of the information provided is endorsed in any way by any of the companies mentioned. We do not guarantee the accuracy, currency, or suitability of this information (including regarding demographics or salary estimate) and you are responsible for how you use it. ALL INFORMATION IS PROVIDED “AS IS” AND “WITH ALL FAULTS”. We are not responsible for nor endorse third party content on our website. If you notice any inaccurate information or information you think is proprietary you can email us at [email protected]. See our Terms and Conditions and Community Guidelines for more information.