What does a junior underwriter do?
Working alongside senior underwriters, a junior underwriter is in charge of performing research and analysis to determine the eligibility of clients for insurance products and services. Their responsibilities include gathering and analyzing requirements, inspecting financial histories, participating in handling underwriting conditions, and monitoring current and past loans of a client. Should there be any complicated issues and concerns, they must report to the senior underwriter right away. Furthermore, a junior underwriter must carry out tasks while adhering to the company's policies and regulations.
Junior underwriter responsibilities
Here are examples of responsibilities from real junior underwriter resumes:
- Manage AUS findings and analyze approvals and results accordingly.
- Confirm documents meet requirements of FNMA, FHLMC, HUD, individual investors and other authorities.
- Complete research need to create and clear underwriting conditions and issue clear-to-close for FNMA and FHLMC MHA loans.
- Underwrite and process FHA, conventional conforming and conventional non-conforming mortgage loans following company, investor, and government standards.
- Monitor compliance issues to meet DU/LP automate UW approval.
- Submit and approve to DU/LP, verify income and assets reviewing credit for dispute resolution and debt.
- Review VA loans for compliance, make sure all documents need for an approval per VA guidelines are present.
- Perform modification underwriting for FHA loans under approve guidelines.
- Review incoming customer documentation from various investors before perfecting and processing to Sr.
- Review individual mortgage origination/post origination documentation and perform database research.
- Assist in post-closing QA, perform HMDA reviews and work to resolve compliance issues.
- Perform daily HMDA audit on all withdrawn/decline loans to ensure that all federal & states laws/requirements are meet.
- Review individual mortgage origination/post origination documentation and perform database research.
Junior underwriter skills and personality traits
We calculated that 16% of Junior Underwriters are proficient in Loan Programs, Income Documentation, and Credit Reports. They’re also known for soft skills such as Analytical skills, Detail oriented, and Interpersonal skills.
We break down the percentage of Junior Underwriters that have these skills listed on their resume here:
- Loan Programs, 16%
Reviewed accuracy on documents, payment calculation, rates and loan programs to determine the acceptability and marketability of the loan.
- Income Documentation, 8%
Assist with questions from other underwriters who encounter unique and complicated financial situations while analyzing income documentation.
- Credit Reports, 5%
Review credit reports and other loan documents including basic income documents in order to ensure borrowers meet eligibility for credit approval.
- FHA, 5%
Performed modification underwriting for FHA loans under approved guidelines.
- Va, 5%
Reviewed VA loans for compliance, made sure all documents need for an approval per VA guidelines were present.
- Loan Applications, 5%
Examined clients' loan applications to assure accuracy of data and obtained supplementary documents essential for loans compliance.
Most junior underwriters use their skills in "loan programs," "income documentation," and "credit reports" to do their jobs. You can find more detail on essential junior underwriter responsibilities here:
Detail oriented. Many junior underwriter duties rely on detail oriented. "information on an application affects the potential profitability of a loan, so loan officers must pay attention to details.," so a junior underwriter will need this skill often in their role. This resume example is just one of many ways junior underwriter responsibilities rely on detail oriented: "performed detailed credit analysis of loans, by examining overall investment quality of products. "
Interpersonal skills. junior underwriters are also known for interpersonal skills, which are critical to their duties. You can see how this skill relates to junior underwriter responsibilities, because "loan officers must be able to guide customers through the application process and answer their questions." A junior underwriter resume example shows how interpersonal skills is used in the workplace: "access interpersonal communications interpretation and application of lending documentation, credit reports and income and asset calculations. "
Initiative. A big part of what junior underwriters do relies on "initiative." You can see how essential it is to junior underwriter responsibilities because "loan officers may act as salespeople in promoting their lending institution, so they must contact people and businesses to determine their need for a loan." Here's an example of how this skill is used from a resume that represents typical junior underwriter tasks: "key initiatives included: training of other employees are underwriting process and procedures. "
The three companies that hire the most junior underwriters are:
- Zurich3 junior underwriters jobs
- Luther Burbank Savings
3 junior underwriters jobs
- Bank of Hope2 junior underwriters jobs
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Compare different junior underwriters
Junior underwriter vs. Finance analyst assistant
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
While similarities exist, there are also some differences between junior underwriters and finance analyst assistant. For instance, junior underwriter responsibilities require skills such as "loan programs," "income documentation," "credit reports," and "fha." Whereas a finance analyst assistant is skilled in "data analysis," "financial analysis," "purchase orders," and "applied behavior analysis." This is part of what separates the two careers.
Finance analyst assistants earn the highest salaries when working in the finance industry, with an average yearly salary of $89,658. On the other hand, junior underwriters are paid more in the insurance industry with an average salary of $62,185.finance analyst assistants tend to reach higher levels of education than junior underwriters. In fact, finance analyst assistants are 6.2% more likely to graduate with a Master's Degree and 0.4% more likely to have a Doctoral Degree.Junior underwriter vs. Loan administrator
A Loan Originator is a potential liaison between borrowers and lenders. They help borrowers complete loan applications and evaluate which loans are most appropriate for the customers.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that junior underwriter responsibilities requires skills like "loan programs," "income documentation," "va," and "underwriting guidelines." But a loan administrator might use other skills in their typical duties, such as, "customer service," "data entry," "loan administration," and "loan processing."
Loan administrators earn a lower average salary than junior underwriters. But loan administrators earn the highest pay in the finance industry, with an average salary of $48,093. Additionally, junior underwriters earn the highest salaries in the insurance with average pay of $62,185 annually.In general, loan administrators achieve similar levels of education than junior underwriters. They're 2.3% more likely to obtain a Master's Degree while being 0.4% more likely to earn a Doctoral Degree.Junior underwriter vs. Loan originator
The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
The required skills of the two careers differ considerably. For example, junior underwriters are more likely to have skills like "income documentation," "loan applications," "investor guidelines," and "financial statements." But a loan originator is more likely to have skills like "customer service," "origination," "phone calls," and "excellent interpersonal."
Loan originators make a very good living in the transportation industry with an average annual salary of $46,524. On the other hand, junior underwriters are paid the highest salary in the insurance industry, with average annual pay of $62,185.Most loan originators achieve a similar degree level compared to junior underwriters. For example, they're 1.6% more likely to graduate with a Master's Degree, and 0.5% more likely to earn a Doctoral Degree.Junior underwriter vs. Closer
Types of junior underwriter
Updated January 8, 2025
