If you’re an auto loan underwriter, much of your work involves reviewing the loan applications, filling out information, and making notes on them. However, this is becoming more and more difficult with all the quick processing that occurs these days. In order to remain competitive in the current market and keep up with constantly changing technology in the banking industry, it may be time to switch to providing inputting information into an automated software program.
How much does auto loan underwriter get paid?
Someone with the job of an auto loan underwriter will typically make $45,000 or more. Those who choose this position generally have experience in the financial industry. This can be combined with a banking position or purchasing and marketing positions.
What is the salary range for an auto loan underwriter?
In order to become an auto loan underwriter, a person must complete a degree in finance or business. The job often requires that one complete the CFP certification and the Series 7 license by passing all sections of the exam. The starting salary for these positions is usually around $34,000 which means one can comfortably live on their pay checks.
What are the benefits of working as an auto loan underwriter?
Being an auto loan underwriter is a fast-growing field. There are various benefits to the job that don’t often go unnoticed. For example, working with prospective homebuyers allows underwriters to give them fantastic rates on taking out a new car loan. Some companies also offer top-of-the-line tools and gadgets for their staff to use in determining what constitutes safe transportation for the majority of people during their time on Earth.
How long does it take to become an auto loan underwriter?
To be an auto loan underwriter at a large bank, it typically takes around two years once a set of qualifications has been achieved. To become an auto loan under writer with other firms some people will wait up to nine to 20 years…
What are the top companies hiring for this position and how quickly can I start work in that company?
The salary for a loan underwriter is different in every company. Some companies may have competitive salaries that range anywhere from $308,000 to $338,000. Other companies are fast hiring and may offer starting salaries as high as $75,000. It may take a bonus or full-time-equivalent terms to decide this question.
After gathering the data, it was shown that the average salary for an auto loan underwriter is between $35,208 and $48,840. New graduates should target this as a median paying position.