Mortgage Underwriter Career


A mortgage underwriter or mortgage loan officer, as he/she is better known as is an individual who would be handling the crucial task of evaluating the probability of getting a loan repayment by the clients of financial institutions along with the estimated amount of the loan refund. It is a very challenging job as an underwriter would have to be really good at his/ her or the company could have to face huge loses. Being in this profession, one would have the responsibility as well as the accountability towards the particular financial institute

How to become a mortgage underwriter:

There is no such mandatory job requirement as an underwriter should preferable have an experience in business law and accounting to be successful in the field. However, one can consider a bachelor’s degree in finance or a related field

Moreover, one would also be required to acquire a particular license to become a mortgage underwriter as per the guidelines of U.S. Bureau of Labor Statistics (BLS). One would have to pass a written test while completing at least 20 hours of classroom work to obtain the same.

Mortgage underwriter career courses, training, and programs:

To achieve success in the field one should have analytical skills in order to properly evaluate financial data. Also, the prior natural skill required is sheer insight as a mortgage underwriter would be expected to provide the most accurate predictions about the future environment, based on the present and past information. This could be developed only with training and experience.

Mortgage underwriter career schools/colleges, education:

Although it would be of great aid if one would be familiarized with the financial field in the college years only, the education stream to adopt this particular job would not be an issue at all.

Top 5 colleges/universities:

  • University of Pennsylvania
  • New York University
  • Massachusetts Institute of Technology
  • University of California
  • University of Michigan

Mortgage underwriter job opportunities, salaries/pay:

The income of a mortgage underwriter would purely vary on the basis of total number of loans permitted for financing. However, the field is expected to have a growth of 10% in the years 2008-2018, as predicted by BSL with the current average salary ranging from $40,430 to $80,140 per annum.

Category: Banking Careers

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