What does an Underwriting Assistant do?

Underwriting assistants provide support and assistance to underwriting staff; they work for the underwriting department, organize and arrange loan approval packages, review consumer and residential loan applications, and gather credit history and other relevant background information, including cash flow records and debt-to-income ratio data. Underwriting assistants assist with the completion of rates and premiums. They perform administrative duties regarding new and renewal accounts, risk assessments, loss runs, and lost ratings.

Underwriting assistants provide research and clerical support to determine whether clients qualify for insurance policies, loans, or other financial services. They gather financial and statistical information and letters with the information provided by an underwriter. Underwriting assistants need a bachelor's degree in finance or related fields.

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Average Years of Experience

0 - 1
41%
2 - 4
42%
5 - 7
5%
8+
12%

Common Skill Sets

Excellent Communication
Microsoft Office Suite
Negotiation
Written Communication
Typing
GE Centricity
Computer Literacy
Portable

Underwriting Assistant Seniority Levels

Loan Officer
17% made the transition
Loan Processor
13% made the transition
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Underwriting Assistant Salaries

Average Base Pay

$46,017 /yr
Same as national average
Not including cash compensation
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$34K
Median: $46K
$62K
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Glassdoor Estimated Salary

Underwriting Assistant Jobs