Profession mortgage loan underwriter

Mortgage loan underwriters ensure compliance with underwriter guidelines. They participate in the implementation of new underwriting guidelines. They also review closed and denied loans.

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Personality Type

  • Enterprising / Social
  • Conventional / Enterprising

Knowledge

  • Banking activities

    The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.

  • Real estate underwriting

    The process of evaluating applications for loans in real estate activities in which not only the prospective borrower but also the property being traded in is evaluated in order to assess whether the property will be capable of redeeming its value.

  • Property law

    The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.

  • Actuarial science

    The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.

  • Mortgage loans

    The financial system of acquiring money by property owners or prospective property owners, in which the loan is secured on the property itself so that the property can be repossessed by the lender in the absence of payments due by the borrower.

Skills

  • Analyse financial risk

    Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

  • Obtain financial information

    Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

  • Examine mortgage loan documents

    Examine documents from mortgage borrowers or from financial institutions, such as banks or credit unions, relating to a loan secured on a property in order to examine the payment history of the loan, the financial state of the bank or borrower, and other relevant information in order to assess the further course of action.

  • Communicate with banking professionals

    Communicate with professionals in the field of banking in order to obtain information on a specific financial case or project for personal or business purposes, or on behalf of a client.

  • Analyse loans

    Examine and analyse the loans provided to organisations and individuals through different forms of credit such as overdraft protection, export packing credit, term loan, and purchase of commercial bills.

  • Interpret financial statements

    Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

  • Assess mortgage risk

    Assess whether the borrowers of a mortgage loan are likely to pay back the loans in a timely manner, and whether the property fixed in the mortgage is able to redeem the value of the loan. Assess all the risks involved for the lending party, and whether it would be beneficial to grant the loan or not.

Optional knowledge and skills

assess debtor's financial situation collect property financial information foreclosure decide on loan applications securities examine credit ratings consult credit score create underwriting guidelines advise on risk management interview bank loanees apply credit risk policy debt systems maintain credit history of clients credit control processes manage loan applications