1.12- What is a mortgage underwriter and its Job Description?


A Mortgage Underwriter is a Financial Expert that analyzes a borrowers finances and assesses how much of a risk a lender will take on, if they decide to give a loan. An underwriter looks in at-depth, the potential borrower's income, assets, debt and property details. Mortgage Underwriter takes a good look at the mortgage application, calculate a risk assessment and match it against a borrowers profile.

A Mortgage Underwriter requires good Decision-making skills, Attention to detail and Strong Initiative. An Experienced Underwriter would have a strong Loan Portfolio and the ability to analyze credit reports in depth.

Job Description

- To Verify Loan Application against Loan Criteria Guidelines and Standards.

- To Evaluate Loan Risk through verification of the loan application Information.

- To Clarify Risk by requesting and verifying additional information.

- to Evaluate Residential Mortgage Loan Risk on timely basis based on sound underwriting decisions.

- To Respond to questions, queries and requests with suitable information.

- To Identify and record application deficiencies required for rejecting a mortgage loan

- To provide a rejected loan application back to the loan officer

- To Provide prompt, quality service to originating branches and correspondents professionally.

- To upgrade information on processing and underwriting systems to verify, add, delete or waive conditions.

- To recommend areas of improvement to staff and loan officers.

- To respond to product questions and scenarios with suitable answers.

- To ensure compliance with underwriter market standards.

- To assist the needs of Producers, Closers, Document Drawers and Funders.

- To Upgrade information on processing and underwriting systems to verify, add, delete or waive conditions.