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Based on the most helpful WSO content, here's a general salary progression for underwriters, including FHA underwriters:

  1. Commercial Underwriter (2-3 years): Starting in the mid-$50,000s range.
  2. Senior Commercial Underwriter (2-3 years): Progressing to the low $80,000s range.
  3. Underwriting Manager (2-5 years): Breaking into six figures.
  4. Junior VP of Underwriting (3-5 years): Around $125,000+.
  5. Chief Underwriting Officer: Approximately $200,000 or more, depending on performance and experience.

For FHA underwriters specifically: - In 2008, FHA underwriters earned around $55,000 base salary with a 25% bonus (though production bonuses have since been eliminated, and base salaries have been adjusted upward). - Agency underwriting (e.g., FNMA/FHLMC) may offer slightly higher or comparable compensation, but getting into these roles, especially in multifamily groups, is highly competitive.

The progression and pay can vary depending on the organization, region, and individual performance.

Sources: FHA/FNMA/FHLMC Underwriter, https://www.wallstreetoasis.com/forum/corporate/the-forgotten-cousin-of-finance-commercial-insurance?customgpt=1, Q&A: HF Analyst @ $5bn+ Fund - Breaking In and Transition to Risk-Taking Role, What is the career and salary progression for an average performer in high finance?, Underwriting Analyst? Underwriter?

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