the underwriter looks through all of the information in the loan application package to determine whether the borrowers are a good credit risk, whether they have the money for the down payment, whether their credit report reflects a willingness to pay their debts, and whether the property value is accurate and in line with desired loans for the bank. underwriting standards will vary from bank to bank, depending in the number and types of loans the bank wishes to have in their portfolios. underwriters must look at the complete loan package and make a recommendation for the bank. underwriters must be able to analyze the borrowers’ information and make that judgment call. underwriters do work as a team in conjunction with processors and originators so that the entire loan application process can flow smoothly. the future outlook of mortgage loan underwriter jobs is unknown.
most banks do not require their underwriters to have a college degree, but candidates with college degrees are preferred. mortgage loan underwriters must have the ability to analyze a lot of data in a loan package. if the underwriter will be working on fha, va, and other kinds of loans he or she must have good working knowledge of all the loan requirements and guidelines specific to these loans. in addition, underwriters need to be sensitive to the confidential information they receive about each borrower. mortgage loan underwriters earn a wide range of salaries, depending on the bank, number of years of experience, and the location of the bank. on the west coast underwriters earn between $41,000 and $64,000, and in new york city the average salary range is $43,000 to $67,000. additionally, the mortgage loan underwriter may choose to become an originator.
now is not the time to be looking for an underwriter job. start in good luck with your job search! if you enjoy problem-solving, analysis, and detail work, this may be an attractive career choice for you. the future outlook of mortgage loan underwriter jobs is unknown. there will always be the need for underwriters, but how much growth, if any, there will be in the number of jobs is not known. review this career. send to a friend take our 2 minute survey and see the best mortgage underwriter jobs for you., Is mortgage underwriting a good career site:www.reddit.com&prmd=nvi, is mortgage underwriting a good career reddit, mortgage underwriter salary, mortgage underwriter salary, how to become a mortgage underwriter.
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