Become An Underwriter
Where do you want to work?
Working As An Underwriter
- Getting Information
- Establishing and Maintaining Interpersonal Relationships
- Making Decisions and Solving Problems
- Interacting With Computers
- Processing Information
Mostly Sitting
Make Decisions
Repetitive
$69,627
Average Salary
What Does An Underwriter Do
How To Become An Underwriter
Most loan officers need a bachelor’s degree and receive on-the-job training. Mortgage loan officers must be licensed.
EducationLoan officers typically need a bachelor’s degree, usually in a field such as business or finance. Because commercial loan officers analyze the finances of businesses applying for credit, they need to understand general business accounting, including how to read financial statements.
Some loan officers may be able to enter the occupation without a bachelor’s degree if they have related work experience, such as experience in sales, customer service, or banking.
TrainingOnce hired, loan officers usually receive some on-the-job training. This may be a combination of formal, company-sponsored training and informal training during the first few months on the job.
Licenses, Certifications, and RegistrationsMortgage loan officers must have a Mortgage Loan Originator (MLO) license. To become licensed, they must complete at least 20 hours of coursework, pass an exam, and submit to background and credit checks. Licenses must be renewed annually, and individual states may have additional requirements.
Several banking associations, including the American Bankers Association and the Mortgage Bankers Association, as well as a number of schools, offer courses, training programs, or certifications for loan officers. Although not required, certification shows dedication and expertise and thus may enhance a candidate’s employment opportunities.
Important QualitiesDecisionmaking skills. Loan officers must assess an applicant’s financial information and decide whether to award the applicant a loan.
Detail oriented. Each piece of information on an application can have a major effect on the profitability of a loan, meaning that loan officers must pay attention to detail.
Initiative. Loan officers need to seek out new clients. They often act as salespeople, promoting their lending institution and contacting firms to determine their need for a loan.
Interpersonal skills. Because loan officers work with people, they must be able to guide customers through the application process and answer their questions.
Show More
Show Less
Underwriter jobs
Underwriter Career Paths
-
Underwriting Manager 4.5 years
-
Senior Underwriter 4.4 years
-
Mortgage Underwriter 3.8 years
-
Mortgage Or Loan Underwriter 3.6 years
-
Underwriting Specialist 3.6 years
-
Underwriter 3.0 years
-
Consumer Loan Underwriter 2.6 years
-
Junior Underwriter 2.2 years
-
Senior Underwriter 14.9%
-
Loan Processor 9.2%
-
Mortgage Underwriter 7.5%
-
-
-
Loan Officer 6.2%
-
Junior Underwriter 4.5%
-
Processor 4.4%
-
Branch Manager 4.2%
-
Underwriting Manager 4.0%
-
Account Executive 3.8%
-
Team Leader 3.7%
-
Operations Manager 3.6%
-
-
-
Account Manager 3.1%
-
-
-
Quality Control 2.8%
-
Credit Analyst 2.7%
-
Senior Underwriter 26.2%
-
Mortgage Underwriter 11.6%
-
-
Underwriting Manager 4.6%
-
Quality Control 4.5%
-
-
Team Leader 4.1%
-
Loan Processor 3.9%
-
-
Account Manager 3.3%
-
Analyst 3.2%
-
Account Executive 3.2%
-
Vice President 3.0%
-
Auditor 2.9%
-
-
Credit Analyst 2.6%
-
Operations Manager 2.5%
-
-
Processor 2.4%
-
Average Length of Employment
Top Careers Before Underwriter
Top Careers After Underwriter
Underwriter Demographics
Gender
-
Female
60.1% -
Male
37.9% -
Unknown
2.0%
Ethnicity
-
White
78.7% -
Hispanic or Latino
11.6% -
Asian
7.5% -
Unknown
1.7% -
Black or African American
0.6%
Languages Spoken
-
Spanish
60.3% -
French
4.5% -
Chinese
4.3% -
Mandarin
4.3% -
Carrier
3.5% -
Russian
2.9% -
Cantonese
2.4% -
Italian
2.4% -
Korean
1.9% -
Portuguese
1.9% -
Hindi
1.6% -
German
1.6% -
Vietnamese
1.3% -
Hmong
1.3% -
Japanese
1.3% -
Arabic
1.3% -
Armenian
0.8% -
Greek
0.8% -
Tagalog
0.8% -
Urdu
0.8%
Underwriter
Unfortunately we don’t have enough data for this section.
Underwriter Education
-
University of Phoenix
26.5% -
Strayer University
5.5% -
Temple University
4.7% -
Illinois State University
4.7% -
University of North Texas
4.6% -
Georgia State University
4.2% -
University of South Florida
4.1% -
Florida State College at Jacksonville
4.1% -
Kaplan University
4.0% -
Liberty University
3.8% -
University of Texas at Arlington
3.8% -
University of Connecticut
3.8% -
University of Central Florida
3.6% -
Ashford University
3.6% -
Arizona State University
3.3% -
Michigan State University
3.2% -
Florida State University
3.2% -
Iowa State University
3.2% -
University of North Florida
3.0% -
University of Florida
3.0% -
Business 38.5%
-
Finance 11.7%
-
Accounting 7.7%
-
Management 4.3%
-
Marketing 4.0%
-
Psychology 3.4%
-
Economics 3.2%
-
Communication 3.0%
-
Real Estate 2.8%
-
Insurance 2.6%
-
Political Science 2.6%
-
Criminal Justice 2.3%
-
Education 2.2%
-
Liberal Arts 1.8%
-
-
General Studies 1.7%
-
English 1.7%
-
-
Law 1.5%
-
-
Bachelors
44.5% -
Other
25.7% -
Masters
14.2% -
Associate
8.9% -
Certificate
3.9% -
Doctorate
1.2% -
Diploma
0.9% -
License
0.8%
Schools
Majors
Degrees
Underwriter
Unfortunately we don’t have enough data for this section.
Real Underwriter Salaries
Job Title
|
Company
|
Location
|
Start Date
|
Salary
|
|---|---|---|---|---|
| Underwriter, Weather and Energy | Westport Insurance Corporation | New York, NY | Jun 21, 2016 | $220,000 - $225,000 |
| Regional Casualty Underwriter | Berkley Insurance Company | Miami, FL | Apr 03, 2015 | $183,600 |
| Regional Casualty Underwriter | Berkley Insurance Company | Miami, FL | Aug 04, 2015 | $180,000 |
| Program Underwriter | R-T Specialty, LLC | Glendale, CA | Oct 24, 2011 | $175,000 |
| Lead Underwriter and Arranger | Royal Bank of Canada | New York, NY | Jul 27, 2015 | $170,000 |
| Regional Casualty Underwriter | Berkley Insurance Company | Miami, FL | May 15, 2013 | $150,000 - $175,000 |
| Regional Casualty Underwriter | Berkley Latin America Underwriting Managers LLC | Miami, FL | Jun 11, 2012 | $150,000 - $175,000 |
| Regional Casualty Underwriter | Berkley Insurance Company | Miami, FL | May 20, 2013 | $150,000 - $175,000 |
| Regional Casualty Underwriter | Berkley Latin America Underwriting Managers LLC | Jacksonville, FL | Apr 03, 2012 | $150,000 - $175,000 |
| Underwriter | Atrium Risk Management Services (Washington) Ltd. | San Francisco, CA | Oct 18, 2015 | $135,000 |
| Underwriter | Westport Insurance Corporation | New York, NY | Nov 18, 2016 | $130,000 - $135,000 |
| Underwriter | Westport Insurance Corporation | New York, NY | Aug 19, 2016 | $120,515 - $130,000 |
| Facultative Underwriter | Validus Services, Inc. | Groveland, FL | Sep 01, 2011 | $90,000 |
| Underwriter 4 | Suntrust Banks, Inc. | Orlando, FL | Oct 13, 2011 | $87,000 |
| Underwriter | AXA Insurance Company | New York, NY | Sep 01, 2012 | $85,000 |
| Treaty Underwriter (Reinsurance) | Swiss Re America Holding Corporation | Miami, FL | Jun 12, 2012 | $85,000 |
| Treaty Underwriter | Swiss Re America Holding Corporation | Armonk, NY | Jan 01, 2011 | $85,000 |
| Treaty Underwriter (Reinsurance) | Swiss Re America Holding Corporation | Miami, FL | Apr 03, 2012 | $85,000 |
| Underwriter II | The PNC Financial Services Group, Inc. | Cincinnati, OH | Oct 04, 2013 | $83,400 |
| Excess Umbrella Underwriter | Nations Builders Insurance Services, Inc. | Atlanta, GA | Nov 22, 2012 | $69,000 |
| Market Facing Underwriter II | Zurich American Insurance Company | New York, NY | Dec 02, 2013 | $68,100 |
| Underwriter | FORA Financial, LLC | New York, NY | Sep 17, 2014 | $67,431 |
| Underwriter | Aspen Insurance Us Services, Inc. | Boston, MA | Aug 27, 2014 | $66,125 |
| Underwriter | Hiscox Inc. | Los Angeles, CA | Aug 13, 2015 | $66,000 |
| Production Underwriter | Affiliated FM Insurance Company | Plano, TX | Oct 01, 2012 | $65,478 - $90,000 |
| Underwriter | Funding Circle USA Inc. | San Francisco, CA | Feb 08, 2016 | $65,000 |
| Underwriter | Odyssey Reinsurance Company | Miami, FL | Sep 24, 2015 | $65,000 - $185,000 |
No Results
To get more results, try adjusting your search by changing your filters.
Top Skills for An Underwriter
Show More
Top Underwriter Skills
- Investor Guidelines
- Income Documentation
- Ensure Compliance
- Approved and Denied first and second mortgages according to investor guidelines.
- Reviewed credit, income documentation, appraisal and title documents necessary to decision completed file.
- Underwrite loans to ensure compliance with lenders and investors standards.
- Prepare a weekly report for account ability of supplemental FHA claims.
- Analyze credit reports and financial documentation to classify and qualify loans according to company guidelines.
Top Underwriter Employers
Show More
Underwriter Videos
The Role of a Mortgage Underwriter
Career: Insurance Underwriter
How To Work As An Insurance Underwriter