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What does a Mortgage Underwriter do?

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

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A mortgage underwriter is a professional who evaluates the risk of lending money to a potential borrower. The underwriter considers the borrower's credit history, employment history, and other factors to determine whether or not the loan is a good risk. If the underwriter approves the loan, it is then sent to a lender for final approval.

Mortgage Underwriter job duties include:

  • Review and evaluate loan applications for residential mortgage loans
  • Analyze applicant’s financial status, credit, and property evaluations to determine feasibility of granting loan
  • Request and review required documentation to complete loan files
  • Work with loan officers and processors to obtain all necessary documentation
  • Make recommendations on loan approval or denial based on credit worthiness
  • Prepare detailed reports summarizing findings and recommendations
  • Keep abreast of new types of loans and other financial services products in order to better serve customers
  • Adhere to all company policies and procedures as well as federal and state regulations
  • Maintain confidentiality of customer information at all times

Mortgage Underwriter Job Requirements

Mortgage underwriters typically need at least a bachelor’s degree, although some jobs may require a master’s degree. Mortgage underwriters must be certified by the National Mortgage Licensing System and Registry. They also must have several years of experience in the mortgage industry.

Mortgage Underwriter Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Finance
  • Asset management
  • Real estate
  • Mortgage banking
  • Loan processing
  • Loan servicing
  • Underwriting
  • Financial modeling
  • Risk management

Related: Top Mortgage Underwriter Skills: Definition and Examples

How to become a Mortgage Underwriter

A mortgage underwriter is a professional who assesses the risk of lending money to a borrower. They do this by reviewing the borrower's financial history and credit score, as well as the property that is being used as collateral. If the underwriter believes that the loan is a good risk, they will approve it. If not, they will deny it.

There are a few different ways to become a mortgage underwriter. The most common is to have a degree in business or finance, and then to get hired by a bank or other financial institution that offers mortgages. Once you are hired, you will be trained on the specific guidelines that your employer uses to assess risk.

Another way to become a mortgage underwriter is to work for an independent company that provides underwriting services to lenders. These companies are often hired by banks and other financial institutions to review loan applications and make recommendations about whether or not to approve them.

If you're interested in becoming a mortgage underwriter, it's important to have strong analytical and math skills. You must also be able to pay close attention to detail and be able to work well under pressure.

Related: Mortgage Underwriter Resume Example

Related: Mortgage Underwriter Interview Questions (With Example Answers)