How to become a mortgage underwriter?
So what are the qualifications to become a successful mortgage underwriter? Where do I start? How do I get the necessary training to become a mortgage underwriter? Can I get a job as a mortgage underwriter with no experience? Is prior mortgage underwriting experience required to become a mortgage underwriter?
Although it’s recommended, not all mortgage banks and lending institutions require prior underwriting experience or a bachelor's degree in finance, business, or a related field. Having said that, what’s critical is having strong analytical skills as well as a high degree of attention to detail as it relates to credit reports and financial information. Also having prior experience in the banking or financial industry is a plus, and having the ability to demonstrate a proficiency in mortgage underwriting software as well as having excellent communication skills and knowledge of relevant lending regulations and guidelines can help with your job search.
Learn How to Become a Mortgage Underwriter in 3 Easy Steps:
Gain Entry-Level Mortgage Experience: Search for entry-level positions in banking or mortgage lending, such as a mortgage processor, to gain practical experience in loan processing and credit analysis. We offer mortgage processor training & certification via our sister organization the National Association of Mortgage Processors (NAMP)®, so you can become a Certified Master Loan Processor (NAMP®-CMLP)® to help land that perfect mortgage processing job.
Get Certified: Consider taking online “professional development” mortgage underwriting training classes & certification programs through the National Association of Mortgage Underwriters (NAMU)® — which is considered by many mortgage industry professionals to be the nation’s leading mortgage underwriting training school. With that said, we recommend starting with The Official NAMU® Underwriter Bootcamp™, which consists of (7) recorded on-demand training classes, and also includes the Certified Master Mortgage Underwriter (NAMU®-CMMU)® mortgage underwriting certification program.
Consider an Internship: To help get your “foot in the door” we recommend contacting your local mortgage banks & lenders to inquire about internship opportunities. An internship is a great way for an employer to evaluate your work ethic, drive and knowledge level before hiring you — which means you’re making it easier for the employer to take a chance on you since they are not making a full employment commitment up front. This especially works if you’re new to the mortgage industry or have minimal mortgage work experience. And if you already have formal mortgage underwriting training via NAMU®, you’ll have the underwriting knowledge to demonstrate you’re a “plug ‘n go” candidate.
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“The National Association of Mortgage Underwriters (NAMU) provides a rigorous training course for underwriters and provides course graduates with a certified mortgage underwriter qualification. Certifications and official qualification documents can help you gain skills and experience and can help distinguish you from other job candidates.”
Written By: Stacey Sprain
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