What does a Mortgage Loan Underwriter do?

Learn all about Mortgage Loan Underwriter duties, skills and much more. Get expert advice on how to become a Mortgage Loan Underwriter.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A mortgage loan underwriter is a professional who evaluates and approves or denies mortgage loan applications. Underwriters use their knowledge of credit, employment, assets and other factors to determine whether or not a borrower is a good risk for a loan.

Mortgage Loan Underwriter job duties include:

  • Review loan applications and documentation to verify completeness and accuracy.
  • Examine applicant's credit history to determine financial responsibility and ability to repay the loan.
  • Analyze financial information such as income, debts, assets, and liabilities to assess risk.
  • Determine whether the loan meets the guidelines of government agencies and/or private investors.
  • Request additional information from applicants, if necessary.
  • Calculate income ratios and debt-to-income ratios.
  • Review appraisals to ensure that the property value supports the loan amount requested.
  • Prepare reports detailing loan approval or denial.
  • Communicate decisions to loan officers and applicants.

Mortgage Loan Underwriter Job Requirements

A mortgage loan underwriter is responsible for reviewing and approving loan applications. They must have a bachelor's degree in business, finance, economics, or a related field, and must be certified by the National Mortgage Licensing System (NMLS). Mortgage loan underwriters must have at least two years of experience in the mortgage industry.

Mortgage Loan Underwriter Skills

  • Analytical skills
  • Attention to detail
  • Communication skills
  • Computer skills
  • Critical thinking
  • Flexibility
  • Interpersonal skills
  • Leadership skills
  • Organizational skills
  • Problem-solving skills
  • Research skills
  • Time management

Related: Top Mortgage Loan Underwriter Skills: Definition and Examples

How to become a Mortgage Loan Underwriter

A mortgage loan underwriter is a professional who evaluates and approves mortgage loan applications. Mortgage loan underwriters must have strong analytical and communication skills, as well as knowledge of the mortgage industry and underwriting guidelines. To become a mortgage loan underwriter, you will need to complete a bachelor’s degree in business, finance, or a related field. After completing your degree, you will need to obtain a position with a bank or other financial institution that offers mortgage loans. Once you have gained some experience working as a mortgage loan processor or underwriter trainee, you can then apply for positions as a mortgage loan underwriter.

Related: Mortgage Loan Underwriter Resume Example

Related: Mortgage Loan Underwriter Interview Questions (With Example Answers)