Mortgage Underwriter Education Requirements

A mortgage underwriter is a professional who is responsible for determining that whether a a loan applicant qualifies for the loan or not. These professionals are required to possess detailed knowledge about financial processes, loan regulations & laws and loan process. Associates level degrees in finance or mortgage banking fulfill the education requirements for a mortgage underwriter. These candidates find employment with banks, loan organization or financial institutions.

The education for these candidates must provide detailed knowledge about business and loan laws, regulations and ethics, accounting, economic & market research, finance & accounting fundamentals. Their education must also focus on developing the evaluation skills pertaining to financial data evaluation in these candidates to prepare them for the job. Their education must also develop these candidates with excellent knowledge about laws and regulations of mortgage industry.

Mortgage Underwriter Education Requirements:

  • Any candidate qualifying for mortgage underwriter position must possess high school diploma with one of the major subject as mathematics.
  • These candidates can then enroll for professional degrees in business, management or finance.
  • The aspiring mortgage underwriters must also possess excellent verbal and written communication & interpersonal skills to establish a rapport with their clients for better evaluation of their financial state.

Mortgage Underwriter Degrees, Courses and Certifications:

The candidates who look forward to pursue their career as a mortgage underwriter must possess following degrees and certifications:

  • High school diploma.
  • Associates or bachelor’s degree in finance, accounting, economics, management or any other related courses.
  • These candidates are required to possess necessary license as mortgage underwriter by fulfilling the license requirements as stated by U.S. Bureau of Labor Statistics.
  • Short term diploma level courses in mortgage underwriting, mortgage laws and relations, mortgage loan process etc.

Mortgage Underwriter Qualification and Training:

Along with the formal education in finance, a mortgage underwriter must possess excellent knowledge in mathematics and auditing skills. They should possess excellent evaluation abilities and must be able to perform accurate research for mortgage loans. They must also possess updated knowledge of mortgage lending policies and government regulations pertaining to mortgages.

They must also be well versed with automated computerized evaluation software and should possess good working knowledge of computers.

Mortgage underwriter Colleges and Universities:

Mortgage underwriter Wages and Salaries:

A mortgage loan underwriter can earn up to $35000 – $80,000 on an annual basis depending on their education qualification, work experience in the field, skills, dedication and sincerity.

Category: Banking Education Requirements

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