Underwriter Job Description
Underwriter
provides quality decisions on mortgage applications submitted by Home Financing Advisors and Mortgage Brokers within defined limits, while mitigating risk and ensuring adherence to Banks guidelines;.
Underwriter Duties & Responsibilities
To write an effective underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Ensure appropriate documenting of all legal, compliance and credit risks per guidelines and approvals
To protect the company against financial loss by operating sound underwriting practices
Follow procedures and guidelines to ensure client’s service standards are met in accordance with SLA
Provide accurate information and timely feedback work on, and correct, data accuracy and integrity
Review the internal systems for completeness and accuracy
Calculate income, front-end and back-end ratios and loan to value ratios
Review all new business, underwriting mail and referrals within quality and productivity standards
Discuss status of underwriting process with agents /brokers, showing responsiveness to the urgent nature of their communication
Continually looks for ways to improve upon processes
Shows initiative in daily tasks, does not need direction to be productive
Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Underwriter
List any licenses or certifications required by the position: DE, FHA, VA, SAR, SARS, CHUMS, LAPP, SASE, ABFA, ALU
Education for Underwriter
Typically a job would require a certain level of education.
Employers hiring for the underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Education, Business, Finance, Statistics, Accounting, Mathematics, Math, Economics, Leadership, Real Estate
Skills for Underwriter
Desired skills for underwriter include:
FHA
Practices
Compliance
Procedures
FNMA and FHLMC policies and guidelines
Various fraud tools
Mortgage insurance guidelines
Mortgage loan processing
Investor products and underwriting guidelines
Techniques
Desired experience for underwriter includes:
Good sense of organization, who to go to, to get questions answered
Conduct comprehensive underwriting review of existing auto, home and umbrella business
Responsible to be in direct contact with the Sales, Client Service and Underwriting staff to gather necessary information on which to base decisions
Develop and maintain relationships with the Credit Team, FAs and clients to structure optimum credit-based solutions within RBCWM risk appetite and lending parameters
Management of risk/reward to attain regional business goals
Responsible for all internal credit correspondence, including ETRs, the ongoing risk analysis of the borrower and the transaction
Underwriter Examples
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Underwriter Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for underwriter
- Analyze client documents and financial statements to evaluate, and determine appropriate credit structure and terms for potential borrowers
- Reviews for due diligence, document processing, and financial statements analyses related to transactions, credit approval, and renewals
- Coordinate loan draws and roll-overs with Credit Administration
- Process/underwrite specialty products, projects as assigned
- Identify and work through alternatives with higher level Underwriter or Supervisor for loans that fall outside of guidelines
- Demonstrate the ability to translate underwriting guidelines with application of mitigating factors, when applicable, to ensure proper salability to investors
- Communicate both in writing and verbally with investors and loan officers
- Update processing system with appropriate income calculations
- Meet established productivity and quality performance metrics on a consistent basis
- Perform other duties as directed by the Underwriting Manager
Qualifications for underwriter
- An acute sense of right and wrong with the calculations to back it up
- A candidate secure enough to be schooled in foosball and ping pong on a regular basis
- Manage pre-fund quality control errors
- 7+ years' experience underwriting jumbo mortgage transactions for high net worth individuals
- Perform condominium project reviews for established condominium projects
- Understand condominium guidelines for both agency and correspondent investors
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Underwriter Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for underwriter
- May be required to perform quality sampling and is able to identify errors in the process or procedure and provide feedback on the results in a professional manner, raising issues where TCF is not be adhered to
- Contribute to a positive and supportive team/group culture
- Complies with federal and state rules and regulations (i.e., MIB, Fair Credit Reporting Act, blood testing, Replacements, 1035 Exchanges)
- Communicates clearly and provides accurate information verbally and in writing to the field force, vendors, reinsurers, various Home Office associates, , while following proper rules of punctuation, grammar, dictation, and style
- Manage pre-fund quality control errors to below 5 percent
- Assess, evaluate risks and apply proper pricing, underwriting and risk retention standards on new business, renewals, endorsements, and cancellations
- Serves as a resource for agents/brokers/underwriters, recommends appropriate coverage for risk
- Provide guidance in the performance of real estate settlement services
- Offer general support to the State Office
- Liaise in a professional manner with external and internal customers via telephone, email and letter
Qualifications for underwriter
- Solid financial statement analysis
- A highly analytical team player who loves to evaluate degrees of financial risk
- Experience in functions relating to health insurance or providers, such as marketing, membership services or accounting, reporting or rating, large group health underwriting, actuarial or benefit contract functions
- Demonstrated computer literacy including Excel and Word
- Proven ability to balance conflicting deadlines and meet established departmental turnaround goals
- Good organizational skills and the ability to work under pressure
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Underwriter Job Description
Job Description Example
Our innovative and growing company is hiring for an underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for underwriter
- FHA/VA guidelines
- Build and maintain effective relationships with all customers
- Adheres to high quality standard
- Ensure effective use of internal technology
- Manage and prioritise own workflow
- Operates within own area of accountability, escalating issues and seeking guidance when required
- Analyse and interpret information received and action accordingly
- Provide support, mentoring and guidance when applicable
- Maintain and develop own technical knowledge and expertise
- Underwriter for conducting risk-based underwriting reviews of applications for merchant payment processing accounts
Qualifications for underwriter
- Expected to effectively communicate and develop rapport with insurance distribution system
- Knowledge of DU preferred
- Secondary Market Product Knowledge
- Proven ability to accurately calculate algebraic rating formulae
- Proven ability to work with incomplete or imperfect information&develop reasonable assumptions
- To pro-actively assess Underwriting cases on products that may vary on client accounts to ensure that business is written efficiently and effectively within budget limitations
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Underwriter Job Description
Job Description Example
Our growing company is looking for an underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for underwriter
- Underwriter will validates consumer identity, legitimacy of business, and ensures that application attributes and business model comply with applicable guidelines/laws
- Underwriter will identifies trends in application attributes/existing payment processing behavior in order to mitigate risk and fraud
- Underwriter reads and analyzes consumer and business financial documentation in order to make sound credit decisions
- Underwriter handles both inbound and outbound calls from existing and prospective customers
- Develop and maintain effective working relationships with internal and external customers
- Conducts agency visits as required
- Conduct external agency audits
- We apply original thinking We offer a competitive compensation and benefits package
- Develop a business plan to aggressively grow the business profitably
- Develop and deliver marketing and underwriting training at the local, regional and national level, both in person and via web based applications
Qualifications for underwriter
- A bachelor’s degree or equivalent combination of education/experience
- Ability to meet high productivity demands for self and staff
- To interpret client philosophies to ensure that underwriting decisions are made in line with this guidance
- Where appropriate, to support our pro-active approach to underwriting by use of the telephone wherever appropriate to establish the circumstances of the case, clarify information, triage and manage the customer’s expectations
- Commitment to self-development research of medical conditions
- Demonstrates essential interpersonal skills listening to others, observing and questioning where appropriate
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Underwriter Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for underwriter
- Service quotes, binders, issuance, and endorsements in a quick and accurate manner
- Work hand in hand with marketing and underwriting to ensure profitable growth
- Occasional special projects as agreed upon with management
- Meet renewal retention goals through strong negotiation and communication skills which may involve onsite meetings with brokers, clients, or centers of influence
- Identify and target new business and cross sell opportunities by building relationships with producers and account managers
- Support the development of an organization focused on high quality risk assessment
- Used independent judgment and initiative to support business growth
- Analyzes coverage and limit requests and determines terms to be offer
- Reviews requests for cancellation, endorsements, renewal consideration
- Organizes and implements cross marketing with other profit centers wherever possible
Qualifications for underwriter
- Excellent telephone skills which should include questioning skills, the ability to triage cases, identify ‘red flags’ discuss clearly and professionally the circumstances of a case and manage the expectations of the customer, if appropriate
- Has a thorough and methodical approach, paying attention to detail in all aspects of underwriting
- LOMA 280 and 290 preferred
- Reviews requests for indemnifications presented by outside sources, evaluates circumstances for issuance of said letter, then responsible for issuance of indemnity letter if determined liability exists
- Examines such documents as real property information, maps, abstracts and other related reports to determine degree of risk from such factors as property financial standing, value and condition of property
- Ability to review complex personal and business tax returns for income qualification