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This question is about underwriter.
How long does it take to become an Underwriter?
It takes 6 years of professional experience to become an underwriter. That is the time it takes to learn specific underwriter skills, but does not account for time spent in formal education. If you include the normal education requirements to complete a college degree, then it takes 9 to 11 years years to become an underwriter.
There are certain skills that you need to obtain in order to become a successful underwriter. Some of the most common skills are listed below. Along with each skill, we provide an actual example of how someone included the skill on their resume:
Loan Portfolio -- Perform personal income analysis, underwrite and apply bank specified conditions to assure borrower meets program/product specifications for home equity loans.
Underwriting Guidelines -- Performed accurate review of real estate loans using specific guidelines to determine whether loan was underwritten in accordance with underwriting guidelines.
Customer Service -- Provided exceptional customer service to internal and external clients by effectively coordinating various stages of the loan process with all stakeholders.
Credit Reports -- Work Site: Washington Mutual Performed initial credit analysis Analyzed credit reports for derogatory entries and FICO determination.
Financial Statements -- Conducted detailed review of financial statements, credit reports, and required modification documentation to ensure that investor criteria are upheld.
Common Certifications For An Underwriter
The Chartered Property Casualty Underwriter (CPCU) certification is most common among Underwriters. This certification is awarded by the The Institutes. This certification is great to have as it shows an improvement in your competency to perform your role. You can earn this certification at the beginning of your career, as it often doesn't require a minimum education level and work experience. To become a certified Underwriter with Chartered Property Casualty Underwriter (CPCU), You need to pass the exam. This certificate requires more than two years of work experience. Renew certification every year.
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