Licensing Lending Training Certifications Events

How To Become A Mortgage Underwriter

There are many steps and mortgage documents required to "close" on a loan. Mortgage underwriting is the final step, and is the process the lender uses to access risk and ensure a borrower meets all of their requirements for a loan.

What Is Mortgage Underwriting?

Mortgage loan underwriting is a complex process involving the analysis of a borrower's income, assets, and credit to determine if the potential borrower meets the requirements for a mortgage. Essentially, underwriting is the mortgage lender's process of assessing the risk of lending money.

How Does Information Get To The Underwriter?

The mortgage loan underwriting process starts with the borrower working with the Loan Officer to fill out the initial application and provide required documentation. The Loan Officer then forwards this the documentation to the Underwriter.

Essentially, the Loan Officer takes the loan application, the Loan Processor reviews and completes the loan package, then sends it to the Mortgage Loan Underwriter for final approval. As you can tell, an Underwriter must be extremely analytical, be able to evaluate the financial information presented, and demonstrate some flexibility in applying lending criteria.

What Does A Mortgage Underwriter Do?

The underwriter's primary job is to make sure the borrower can meet all of the guidelines and requirements of the mortgage program - and has the ability to repay the loan. Mortgage Underwriters do this by reviewing the applicant's W2's, tax returns, pay stubs, credit report, home appraisal, etc.

Once the borrower's income is verified, they then look at the borrower's DebtTo-Income Ratio, credit history, and more. Specifically, they check, review, and verify:

• Income
  
• Credit history
  
• The home appraisal
  
• Title search
  
• Debt-To-Income ratio
  
• Make sure all the required documents are complete and accurate

Earn A Mortgage Underwriter Certification!

Our Certified Mortgage Underwriter training program consists of several instructor-led online training modules and an exam at the end of the program. The modules cover:

• Basic and Advance mortgage underwriting issues
• Conventional, FHA, and VA underwriting
• Due diligence
• Fair Lending laws
• TILA, RESPA, and Red Flag laws
• Appraisals
• Tax Returns
• Calculating Income, DTI, And LTV

Why A Mortgage Underwriter Certification?

Importantly, getting "Mortgage Certified" has become increasingly valuable to mortgage professionals. Not only do mortgage certification programs offer mortgage professionals a chance to acquire essential skills, they award important designations that can advance your career, including:

• Increased knowledge, skills, and competency
• Improves your understanding of how to apply various mortgage rules and regulations
• Enables you to stay up-to-date on the changes in mortgage regulations, policies, and procedures that impact your job function
• Exemplifies your commitment to your career in the mortgage industry
• Career advancement
• Resume enhancer
• You earn more! Individuals who hold certifications generally earn up to 15% more!

How To Become An Underwriter: Find Mortgage Underwriter Training Courses

If you want to know how to become an underwriter, you've come to the right place, as the Mortgage Training Center offers multiple mortgage underwriter training programs, including a mortgage underwriter certification.

To find Mortgage Underwriter training programs, either select one of the recommended courses or "Underwriting" from the "Professional Development" section of the search box below.