Mortgage Underwriter Job Description

Job summary 1

The Mortgage Underwriter decides on mortgage loans and follows established lending policies and procedures. Development in this role is progressive and begins with Mortgage Underwriter I, which involves mastering underwriting conventional loans to agency guidelines and portfolio loans to Bank guidelines. All Mortgage Underwriters are multi-functional, customer-oriented individuals who rely on instructions and pre-established procedures to perform the functions of this job. They work under the immediate supervision of the Mortgage Support Manager.

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Requirements & Skills 1

Job summary 2

The Mortgage Underwriter is responsible for risk mitigation for all mortgage lending products. The Mortgage Underwriter will perform risk reviews on all mortgage applications ensuring that the applications meet portfolio and/or secondary market guidelines. The Mortgage Underwriter will recommend approval/denial of applications that do not meet portfolio and/or secondary market guidelines. The Mortgage Underwriter will professionally communicate with appropriate parties to obtain or clarify information necessary to accurately assess risk and deliver a loan decision.

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Job summary 3

The Mortgage Underwriter must possess the ability to analyze information from multiple sources to perform a thorough evaluation and assessment of each borrower. She/he will identify the risk associated with each mortgage loan and provide sound lending decisions.

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Job summary 4

As a Mortgage Underwriter you will be the financial expert that assesses Company’s financial risk on a potential borrower and is ultimately responsible for approving or denying mortgage loans. The primary function of our Underwriters is facilitating the underwriting function to ensure the continuous production of business products that are compliant with all regulations of law and internal company principles.

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Job summary 5

The Mortgage Underwriter is responsible for underwriting mortgage loan files to secondary market investor(s) and Bank loan guidelines. Ensuring all files are of high credit quality and compliant with all federal and state regulations.

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Job summary 6

The Mortgage Underwriter will be responsible for but not limited to the underwriting of Mortgages along with the documents provided for them and ensuring compliance with appropriate company guidelines.

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Job summary 7

The Mortgage Underwriter is responsible for approving or denying mortgage loans while following credit union policies and procedures.

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Job summary 8

The Mortgage Underwriter reviews residential loan packages for compliance with regulatory, investor, bank, and agency guidelines and makes credit decisions.

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Job summary 9

The Mortgage Underwriter eagerly assists with mortgage loan underwriting by reviewing, evaluating, and decisioning mortgage loans. We know when you grow, we grow! By supporting you with education, leadership, and advancement opportunities, we will make an extraordinary impact together!

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Job summary 10

We are currently recruiting for an on-site Mortgage Underwriter.

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Frequently asked questions

What are the five major parts of a mortgage underwriter's job?

The job of a mortgage underwriter involves assessing and evaluating loan applications to determine whether borrowers meet the eligibility requirements for a mortgage loan. The following are the five major parts of a mortgage underwriter's job:

Reviewing Loan Applications: The underwriter reviews loan applications to ensure they are complete and accurate, and verifies the borrower's income, employment, and credit history.

Evaluating Risk: The underwriter assesses the risk of lending to the borrower by analyzing various factors, including credit score, debt-to-income ratio, and the loan-to-value ratio.

Making Loan Decisions: Based on their analysis, the underwriter decides whether to approve or deny a loan application, or request additional documentation or clarification.

Communicating with Borrowers: The underwriter communicates with borrowers and their loan officers to provide updates on the status of their loan application and to request additional information if necessary.

Ensuring Compliance: The underwriter ensures that the loan application and approval process is compliant with all applicable laws and regulations.

What are the skills of a mortgage underwriter?

The skills required for a mortgage underwriter may include:

Strong analytical and critical thinking skills to evaluate loan applications and assess risk.

Excellent communication and interpersonal skills to interact effectively with borrowers, loan officers, and other stakeholders.

Knowledge of mortgage lending regulations and compliance requirements.

Attention to detail and accuracy in reviewing loan applications and documentation.

Ability to work in a fast-paced and deadline-driven environment.

Proficiency in mortgage underwriting software and tools.

Flexibility and adaptability to changes in lending guidelines and regulations.

In summary, a mortgage underwriter's job involves reviewing and evaluating loan applications, assessing risk, making loan decisions, communicating with borrowers, and ensuring compliance with lending regulations. A mortgage underwriter should possess strong analytical, communication, and interpersonal skills, knowledge of mortgage lending regulations, attention to detail, and proficiency in underwriting software and tools.

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