| Mortgage Underwriter II |
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| Also referred to as: Mortgage Underwriter II, Intermediate Mortgage Underwriter |
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| Requirements and Responsibilities |
| Evaluates the risk of mortgage loan applications against the firm's objectives and borrowing guidelines using analysis and assessment of creditworthiness criteria. Reviews the applicant's financial status, documents, data, and property appraisal. Calculates LTV ratio (loan to value) to define the loan program eligibility, down payment, interest rate, repayment terms, and allowed loan amounts. Makes approval, rejection, or modification decisions based on underwriting guidelines and established approval limits. Complies with all federal regulations, state laws, and internal policies related to mortgage lending. Escalates non-conforming loans that require approval review using an exception process. Typically requires a bachelor's degree. Typically reports to a supervisor or manager. Occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. Typically requires 2-4 years of related experience. |
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| Similar Jobs: Mortgage Underwriter I, Mortgage Underwriter III, Mortgage Underwriter IV, Underwriter II, Mortgage Operations Associate Director, Underwriter (P/C) II, Mortgage Loan Processor II, Mortgage Collector II, Mortgage Closer II |
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| Level of Education: Mortgage Underwriter II Salaries with a High School Diploma or Technical Certificate, Mortgage Underwriter II Salaries with an Associate's Degree, Mortgage Underwriter II Salaries with a Bachelor's Degree, Mortgage Underwriter II Salaries with a Master's Degree or MBA, Mortgage Underwriter II Salaries with a JD, MD, PhD or Equivalent |
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| Industries: Business Services, Edu., Gov't. & Nonprofit, Financial Services, Insurance | |
