Is their pay contingent on the loan funding?
I am asking about independent underwriters who are paid per loan that sometimes even work remotely.
Thanks
How Much Is a Residential Mortgage Contract Underwriter Paid Per Loan?
Refinancing Loan
How to refinance loans
Most underwriters are paid a salary based on their experience. Also most are paid a commission based on the same seniority and the number of loans that are clogged by them each month.
The salary varies from lender to lender as do the commission. A excellent underwriter that has completed DA Underwriters classes would demand more of a salary than one that has not.
Commissions could be from $75.00 per loan clogged to $200.00 per loan clogged. Most loan underwriters should be able to close a minimum of 5-10 loans per month.
The volume would depend on certain circumstances like the advertisement and marketing of the mortgage company, the loan officers ability and experience. If the mortgage company is formal to underwrite and do government loans such as VA and FHA mortgage loans.
I hope this has been of some subsidy to you, good luck.
“FIGHT ON”