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This question is about mortgage underwriter.
How to become a mortgage underwriter with no experience
You become a mortgage underwriter with no experience by pursuing an internship or entry-level position and obtaining your certification. While a formal degree is not necessarily required, you must have at least a high school diploma or GED for most mortgage companies.
To go the extra mile, earning an associate's or bachelor's degree in finance, accounting, or business administration may improve both your hiring and earning potential. While pursuing your education, you may also have opportunities for an internship that can help you get your foot in the door.
Internship opportunities help you to gain hands-on mortgage experience and build your expertise in the mortgage industry. You will learn how to read credit reports and histories, how to analyze various risk factors to determine if a mortgage applicant is suitable, and work with senior underwriters to develop your skills.
You will also gain invaluable insight into the customer service side of mortgage underwriting to ensure that you are meeting the firm's expectations as well as the clients'. If you choose not to pursue a formal education, an entry-level position in a mortgage company may provide you with the same benefits.
Regardless of how you gain the knowledge, a mortgage underwriter is expected to know and understand financial management, financial statement analysis, and financial markets. While not legally required, many mortgage companies look for their underwriters to hold a mortgage underwriter license.
Educators at The National Association of Mortgage Underwriters (NAMU) offer different certification programs, but these are not mortgage underwriter licenses. They are for professional development only and are not federal- or state-issued licenses. The titles of their certification programs include:
Certified Mortgage Underwriter
Certified Master Mortgage Underwriter
Certified Ambassador Mortgage Underwriter
Additional specialty certifications exist for regulatory compliance, FHA mortgages, quality control, and commercial underwriting.
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