Folks that are in the Fannie/Freddie world, curious to hear about your income progression in that world.
My first job in RE was a Fannie Underwriter, I had since left and joined the equity side and now do ok for myself. I do however see that may be 7/10 old colleagues in that Agency world are still there. I’m assuming they must be making pretty good money but can someone confirm?
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Can confirm. Used to be in agency lending myself and the producers I worked for more often then not took home 7 figures each year
Seems OP is speaking more to the UW path than the production path, but agreed, the survivorship bias is crazy in production such that the guys that make it, MAKE it. My boss always talks about how he makes more in 1 year now than he did in his first 30 combined tho.
Ah yeah, my bad, misread the post. But agree with what you're saying too. Those that stay and build a steady book of biz can really put numbers up. One of my old coworkers had like 2 serious clients and all he did was cash out refis for their existing portfolio and crushed it every year.
OP - re: the underwriting side, senior UWs likely have a solid base (maybe $150-175k?) at a DUS lender in a HCOL area. I don't really know pay progessions nor bonuses for that side but at my old shop, we had plenty of underwriters who have been doing it for years and enjoyed it. Less stress than producing and offers consistent pay and work.
Also being a DUS UW is just a standard 9-5 job, most probably not even putting up 40 a week.
Exactly
Im in my 5th year in an agency production analyst role and ill clear $230k this year. This was my first job out of school so id say its going well. The base doesnt really scale all that much (base is a little less than half of that 230k) but the bonuses can be great in good years.
I am guessing you are at a non bank Agency lender given the low base but high bonus? Curious in the last 5 years, has the bonus always been close to 100% of base or does it significantly vary every year like as low as 20% to as high as 100%?
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