Mortgage Underwriters maintain the overall health of a mortgage company, or work on behalf of mortgage companies, to approve or decline loan requests.
The Best Mortgage Underwriter Resume Samples
These are some examples of accomplishments we have handpicked from real Mortgage Underwriters resumes for your reference.
- Responsible for examining loan documentation for accuracy and completeness while working with loan originators and production staff to secure all required documents.
- Rendering credit decisions according to the borrower’s credit score, history, and depth.
- Evaluate the borrower’s capacity and ability to repay the loan based upon employment stability, strength, and consistency of income/cash flow.
- Analyzing collateral (1-4 units, condos, co-ops) for marketability, eligibility, and condition.
- Examining the borrower’s capital to ensure that there is sufficient reserves, equity, and or down payment.
- Review credit, income, asset, and property documentation for compliance with company and investor guidelines and add/clear conditions as applicable.
- Calculate income from paystubs, W2, 1099, trust, and tax returns including 1040, 1065, 1120, the 1120S, and K-1, and the income derived from assets.
- Identify and work through alternatives with a Credit Risk Specialist for loans that fall outside of guidelines.
- Conducted reviews and provided opinions of over 250 mortgage loan submissions.
- Examined loan applications for compliance with Fannie Mae, Freddie Mac, and Federal Housing Authority (HUD) guidelines.
- Review and evaluate information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards.
- Coordinate underwriting activities with loan processing and loan closing to ensure loan requirements are met.
- Notify loan production personnel of incomplete files to obtain appropriate information necessary to complete loan packages.
- Directed the timely preparation of 25 monthly reports to document mortgage loan reviews.
- Advised borrowers on loan modification procedures during times of financial distress and foreclosure threat.
- Received lending authority in record time completing all required training and test cases.
- Examines loan documentation for accuracy and completeness to specific agency and non-agency guidelines; effectively communicating decisions to sales and operations partners for top-tier customer service.
- Evaluates the financial strength of borrowers to determine risk and repayment capacity for top-quality submission to agencies and portfolio products.
- Resolved customer complaints regarding delinquent payments or property maintenance; recommended practices for maintaining or liquidating real estate assets.
- Processed loans within the guidelines of Fannie Mae, Freddie Mac, and Ginnie Marie; executed primary underwriting, secondary underwriting reviews, and final approvals.
- Conduct forensic quality control loan reviews on non-performing loans to determine compliance with guidelines.
- Review loans for possible misrepresentation, omissions, inaccuracies, and red flags.
- Summarize and review findings or decisions in a formal written report.
- Provide a recommendation of action in the form of a claim letter or response to a claim.
- Acted as liaison between Branch Managers and Lenders during the mortgage crisis of 2007-2008.
- Input and validate data integrity for AUS loans, ensuring compliance with AUS guidelines.
- Examine AUS loan applications to determine corporate risk and acceptability according to agencies guidelines/
- Collaborate with senior management, loan processors, and closures before notifying individuals on credit decisions.
- Analyze title documents prior to loan closing; proactively attend seminars, webinars, and workshops to promote professional development.
- Restructured processing procedures to restore branches’ profits after declining in-branch sales. Directed the most profitable branches to acquire additional processing power from the regional data centers.
- Produced loan decisions within required turn-times utilizing the desktop underwriting automated underwriting system.
- Ensured loan submittals met internal and external conventional eligibility requirements following the Fannie Mae, Freddie Mac, and HARP guidelines while simultaneously working in the retail and wholesale division.
- Provided meticulous attention to detail when evaluating the financial strength of borrowers to determine risk and repayment capacity while meeting the high standards of the quality control department with zero error ratings on audited files.
- Demonstrated excellent follow-up with brokers, loan processors, account managers, loan originators, account executives, and management throughout all phases of the underwriting process.
- Reconfigured Underwriting Department information systems to effectively communicate with other departments in order to reduce branch operating costs by eleven percent.
- Evaluate and verify applications related to residential mortgages.
- Ensure that the clients seeking loans have the financial abilities to repay the loans.
- Draft documents stating the requirements of the loans and other useful information.
- Determine if individuals should be granted a loan, after careful study of facts and figures.
- Realized significant cost savings for the corporation through cost-effective internal system upgrades implemented by staff members.
- The top producing underwriter on a consistent basis with authority to sign off all conditions.
- Underwrote complex conventional loans ensuring compliance with appropriate company and secondary market investor standards.
- Performed credit and property analysis on conventional loan files submitted within the time frame established by departmental management.
- Analyzed personal and business tax returns, cash flow, financial statements, legal documentation, appraisals, title reports, and credit reports to determine credit eligibility.
- Performed independent due diligence on mortgage loans; analyzed credit histories, payment records, and appraisals to determine creditworthiness.
- Responsible for evaluating loan files according to investor guidelines.
- Evaluate the completeness and accuracy of mortgage loan applications for credit, capacity, and collateral risks, and determine a net tangible benefit in accordance with compliance and investor requirements.
- Validate collateral value, marketability, and equity position as well as ensure the appraisal meets investor guidelines.
- Implemented consistently accurate loan valuations as a member of a multifaceted team of underwriters responsible for over $500 million in residential mortgage loans.
- Contributed to the creation and maintenance of a multilayered mortgage security that earned top ratings from Moody’s Investors Service.
- Perform quality residential mortgage underwriting for mortgage insurance while working independently using remote servers/services.
- Analyze borrower credit and collateral documentation to provide timely and sensible underwriting decisions for loan amounts up to $1,500,000.
- Effectively communicate credit decisions, both internally and externally; meet minimum production goals and quality control standards.
- Initiated high-speed loan processing for over 1,000 mortgage loans per year; recognized by the Division Manager for leading the team to the highest level of performance in the history of the department.
- Implemented a process for evaluating properties for sale in the mortgage industry.
- Conventional Mortgage underwriter reviewing all loans from queue sent from processing for approval/counter-offer or denial.
- Determining eligibility of borrowers based on credit findings, income documents, assets documents, and title commitments alone with the collateral review.
- Making underwriting decisions based on company guidelines and FNMA and FHLMC guidelines.
- Reviews loan applications submitted by borrowers and make credit decisions based on lender criteria.
- Assisted in streamlining the appraisal process of a significant volume of real estate loans.
Mortgage Underwriter’s Duties and Responsibilities
The mortgage underwriter is responsible for assessing the risk of a borrower defaulting on their loan. This process involves reviewing the borrower’s financial information and determining whether or not they are a good candidate for a loan. Based on our analysis of job postings, these are the core duties and responsibilities of the mortgage underwriter:
#1 Reviewing Borrower Financial Information
The mortgage underwriter’s primary responsibility is to review the financial information of borrowers. This includes reviewing things such as credit reports, tax returns, and bank statements. The mortgage underwriter must assess the borrower’s ability to repay the loan.
#2 Determining Loan Eligibility
Based on their review of the borrower’s financial information, the mortgage underwriter must determine whether or not the borrower is eligible for a loan. This determination is made by considering factors such as the borrower’s credit score, income, and employment history.
#3 Calculating Loan Risk
Once the mortgage underwriter has determined that the borrower is eligible for a loan, they must then calculate the risk of the borrower defaulting on the loan. This calculation is based on factors such as the borrower’s credit score, income, and employment history. The mortgage underwriter must determine if the borrower is a high-risk or low-risk candidate.
#4 Communicating with Borrowers
The mortgage underwriter must communicate with borrowers throughout the process. This includes providing information about the loan program, answering questions about the loan process, and requesting additional documentation when needed. The mortgage underwriter must be able to effectively communicate with borrowers.
#5 Documenting Loan Files
Finally, the mortgage underwriter is responsible for documenting the loan file. This includes creating a file of all the documents related to the loan and ensuring that all required documents are included in the file. The mortgage underwriter must be able to accurately and efficiently document loan files.
Top 5 Skills Needed To Become A Mortgage Underwriter
Mortgage underwriters review and approve mortgage loan applications. They are responsible for determining whether a loan applicant meets the lender’s guidelines and standards for loan approval. Underwriters must have a strong understanding of the mortgage industry, as well as the ability to analyze financial information and make sound decisions. If you’re interested in becoming a mortgage underwriter, here are five skills you’ll need to succeed in this role:
1. Strong analytical skills – Mortgage underwriters must be able to quickly and accurately assess a loan application to determine whether it meets the lender’s guidelines. They must be able to identify any red flags or concerns that could potentially lead to a loan default.
2. Excellent communication skills – Mortgage underwriters need to be able to clearly communicate their decisions to both loan applicants and lenders. They must also be able to effectively explain any conditions that must be met before a loan can be approved.
3. Strong attention to detail – Mortgage underwriters must be able to carefully review all documents related to a loan application to ensure that everything is in order. They must also be able to identify any discrepancies or errors that could lead to a loan denial.
4. Good organizational skills – Mortgage underwriters need to be able to keep track of multiple loan applications at a time and prioritize them accordingly. They must also be able to meet strict deadlines set by the lender.
5. Knowledge of mortgage industry guidelines – Mortgage underwriters must have a thorough understanding of all the guidelines and standards set by the various government agencies that regulate the mortgage industry. They must also be aware of any changes or updates to these guidelines so that they can properly apply them to each loan application.
How to Become a Successful Mortgage Underwriter?
Mortgage Underwriters must have a bachelor’s degree in business-related fields such as banking, finance, or business administration. Underwriters have good communication skills, both verbal and written, in order to articulate ideas to clients in an efficient manner.
Some technical skills such as being proficient in general computer applications such as Microsoft Office and other automated underwriting systems are important for the underwriter role. You must be able to review and specify loan conditions as necessary and make loan eligibility decisions and approve or reject applications.
Mortgage underwriters must be able to have great documentation skills in order to effectively communicate reasons for approval/rejection of loans. You will need to prepare reports on assessments findings and analyze loan risks.
Mortgage underwriters must have great teamwork skills and have a collaborative mindset in order to be successful in this role. Underwriters verify employment, income information, provide reviews on credit history, and compute borrowers’ collaterals and assets respectively. In the mortgage underwriter role, you will need to be able to work in an office setting within financial institutions and mortgage companies. It is important that mortgage underwriters are comfortable dealing with large numbers of data sets and articulating to clients.
Mortgage Underwriters take part in approving or disapproving loan applications in mortgage applications. They are involved in evaluating and verifying loan applications to see if the client has the capacity to repay their mortgage loan. Underwriters must ensure compliance with regulatory standards and comply with company policies and guidelines.
Hope these samples gave you an idea of what your resume should look like and some tips on how to make sure that your resume stands out from the rest.