ROLES AND RESPONSIBILITIES
Underwriters make the recommendation of approval or denial of credit applications and provide written and verbal documentation to support their lending decision. Specifically, Mortgage Underwriters are responsible for analyzing and evaluating consumer home loan applications and reviewing the supporting documentation to assess borrowers' creditworthiness. Types of consumer loan applications include, but are not limited to, Conventional Conforming and Non-Conforming loan amounts, FHA and USDA residential first mortgages.
- Performs mortgage credit analysis, with or without the assistance of an automated underwriting system, and determine borrower’s willingness and ability to repay the mortgage debt.
- Reviews credit documents for completeness and accuracy.
- Performs a detailed review of property appraisals to determine the acceptability of security for loan programs offered.
- Maintains production goals & standards and the investment quality of loans underwritten with an understanding of industry standards and documentation requirements for loans sold to investors.
- May underwrite one or all of the following loan types; Conventional, FHA, FHA203k, VA, and USDA loans to name a few.
- Evaluate risk to ensure a prudent decision is made.
JOB SKILL SET
Organizational Skills
Strong Ethics and Goal-Oriented
Analytical and Problem Solving Skills
Communication and Collaboration
EXPERIENCE AND QUALIFICATIONS
Experience
Months
Minimum 6 months of experience in underwriting or mortgage industry
Industry Knowledge
Knowledge of mortgage loan sales into the secondary market or educational equivalent
Degree or Certification
High School Diploma or equivalent
Minimum 6 months of experience in underwriting or mortgage industry
Knowledge of mortgage loan sales into the secondary market or educational equivalent
High School Diploma or equivalent
Looking for Open Positions?
OPEN POSITIONSQUICK APPLY
ADDITIONAL INFORMATION
- What do you think are the most important skills for an underwriter?
- What experience do you have with underwriting software?
- Has there ever been a time where you disagreed with a colleague or supervisor's loan recommendation? What did you do?
- How do you stay organized?
- How have you improved the quality of the underwriting process with your current employer? How will you begin to improve the processes of this company?
- You notice that the risk threshold for your company's loan approvals is changing. What do you do?
- How do you ensure the accuracy of your work?
- Insurance Underwriter
- Loan Processor
- Risk Management Associate
- Mortgage Analyst
- Underwriting Supervisor
- Underwriter 2,3,4
- Loan Manager
- Mortgage Loan Originator
