Underwriter training

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Comments (28)

Patti C. in Sunnyside, New York

74 months ago

hi lyndsay, I just completed a bunch of mortgage underwriting training classesthrough Mortgage Underwriter University at www.MortgageUnderwriter.org. I too was very pleased... their instructor Bonnie was great... I hope this helps.

patti

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Oceans11 in Aliso Viejo, California

71 months ago

Patti C. in Sunnyside, New York said: hi lyndsay, I just completed a bunch of mortgage underwriting training classesthrough Mortgage Underwriter University at www.MortgageUnderwriter.org . I too was very pleased... their instructor Bonnie was great... I hope this helps.

patti

I took the FHA training course & received the certificate of completion but no lender/bank takes it seriously. The class & the information you learned was top notch & I liked the instructor a lot but unfortunately I haven't had any potential employer take any serious stock in their "Certificate of Completions".

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lucia m.

71 months ago

hi oceans11,

I took the classes as well and they were great... the problem is that the only certification that we as CONVENTIONAL mortgage underwriters can get is in fact a "certificate of completion"... there is NO license or certification required to be a conventional underwriter... to do FHA government underwriting then we need 1) a certificate of completion demonstrating recent training and 2) a bank/lender willing to "sponsor" us which will also require us to submit case files for approval.... but the bottom line, you cannot get an interview without at least a certificate of completion... the certificate is your "foot in the door" because those applicants with NO updated training certificate will NOT get the interview... no matter what though, you will still to find a bank/lender willing to "sponsor" you as there is NO possible way of getting DE certified on your own... but don't worry too much... your certificate of completion is already making you MUCH MORE attractive than those applicants with NO updated training certificate of completion.

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Oceans11 in Aliso Viejo, California

71 months ago

Hey Lucia, thanks for your input I appreciate. I've actually been a conventional underwriter for 10 years so I hope I didn't give you the impression I didn't have any experience I was just commenting back to the person(s) who took that FHA On line course. Like I said, although I liked the info & the instructor I haven't found one lender who takes the certificate seriously.

I think this is an instance of, "Time is Money & Money is Time". They want, "Already certified" DE underwriters. I've only found one ad in the past 2 years (recruiter) that stated the employer was willing to train & sponsor for DE certification. I thought to myself, "Awesome, I'm in!!" then it stated, "Must have had underwritten for a lender in the past 6 months" which blows me out of the water because when I got laid off in early 2007 absolutely NO ONE was hiring for u/w's so I took an Underwriting job with a major Healthcare company.

So in a sense I feel like I'm being penalized for stepping outside the industry just to keep a roof over my head & food on the table. But I know thats not the case & I'm not taking it personal.

I think the biggest problem is lenders are almost exclusively using recruitment agencies & many of them really don't understand how to interpret Underwriter resume's. Their just throwing resume's up on a wall & seeing which ones stick. Personally I can't blame them, it's like shooting fish in a barrel right now for them. Easy pickins!!

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Randee in Huntsville, Alabama

65 months ago

Hi everyone,

I have a question; What mortgage experience can transfer along with training(if needed) to the underwriter area of mortgage. I have post closing and other areas but not underwriting...I'm thinking of making the transition.

Also any ideas or has anyone worked from home processing. "I've been told to process first before trying to underwrite; I do have a bit of that experience.

Thanks

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Oceans11 in South OC, California

65 months ago

Well it depends on what type of post closing experience you have. Such as Audit or QC these are done both post closing. If you know how to pick apart a loan following different investor guidelines, find fraud, find underwriter discrepancies in the form of incorrectly calculating income, signing off on documentation that doesn't go with the condition. All these qualities would transfer nicely.

Unfortunately the time we're in & what HR managers & recruiters are looking for are very narrow. 4 years ago you would have easily transferred over to front line underwriter because of the volume & necessity to have able people underwrite. But now even regular old underwriters like me with good conventional & non conventional underwriting can't get a position because the environment we're now is all they want is FHA DE certified underwriters.

Good luck
PS I would definitely try Processing first, get your foot in the door at a good bank or lender then dazzle them with your post closing skills.

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Samantha in Chicago, Illinois

64 months ago

Hello All,

I am trying to find a class that offers DE certifications. My local Colleges in the Chicagoland area do not offer the course. Any suggestions as to where I can find this class? Online classes? Any help is greatly appreciated!

Sam-

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Oceans11 in South OC, California

64 months ago

Samantha in Chicago, Illinois said: Hello All,

I am trying to find a class that offers DE certifications. My local Colleges in the Chicagoland area do not offer the course. Any suggestions as to where I can find this class? Online classes? Any help is greatly appreciated!

Sam-

There's no such thing. HUD was the only entity who could offer DE Certifications but they stopped doing this & reviewing files back in February of 1996 now the only way you can get DE Certified is by getting sponsored by a bank/lender who is FHA Approved by HUD. Once they sponsor you & add your name into CLAS it will be up to the lender to review your files & verify you are fit to underwrite FHA or govy loans. Once that happens HUD/CLAS will submit to you a CHUMS number.

You can always go to places like Allregs or FHA University but NONE of these places can offer you an actual Certification just a Certificate of Completion of the classes THEY offer. Please do NOT spend a ton of money on these courses because in the "real world" not one lender or bank in dozens that I've tried has even taken a remote interest in the fact that I spent money & time to attain one of these certificates of completion. So it's not even worth the paper it's printed on.

HUD does NOT require a minimum amount of schooling or minimum amount of hours or classes to be taken just a sponsorship by a bank/lender who is HUD approved to do govy loans.

Hope that helps. I had to do a lot of research on this because HUD is a little cryptic & there information that floats on the web is extremely outdated. So there are many out there who think you can just go to a school to get certified & that is NOT the case.

Good luck in trying to get a lender or bank to hire you without a DE, train & sponsor you. That's almost unheard of. If you do find one, take it & get your DE as fast as possible!

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vlakhani in Schaumburg, Illinois

64 months ago

Sam, you should look into Mortgage Underwriter University. They offer an online course and currently they are offering a speckal you can take two courses for the price of one.

Samantha in Chicago, Illinois said: Hello All,

I am trying to find a class that offers DE certifications. My local Colleges in the Chicagoland area do not offer the course. Any suggestions as to where I can find this class? Online classes? Any help is greatly appreciated!

Sam-

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Tricia Lorraine in Calabasas, California

41 months ago

Well said!

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etmomia Vaughn in Atlanta, Georgia

40 months ago

That is true about the certification. But if any one want to get in the mortgage field, I am offering loan processing class. I have been in mortgage field for more than
10 years. U can email me at etmoniagray@yahoo.com for more information.

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Benjamin in Saint Paul, Minnesota

35 months ago

I am currently a banker and looking to change my career to become an underwriter but I was told I would need loan processing experience. Do you know if mortgage underwriter university is good for job placing. Anyone please let me know! Also if i take these courses would it make me a stronger canidate? Thank you!

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Mo in Long Beach, California

32 months ago

Benjamin in Saint Paul, Minnesota said: I am currently a banker and looking to change my career to become an underwriter but I was told I would need loan processing experience. Do you know if mortgage underwriter university is good for job placing. Anyone please let me know! Also if i take these courses would it make me a stronger canidate? Thank you!

Before you pay for any course go to efannie Mae website and take the pre recorded class.some you have to be with a lender but most you just need to register.

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Susan M.

32 months ago

Hi Ben,

I took a few classes through Mortgage Underwriter University and I found the instructors to be great... I ended up getting a job 2 months later at a local bank doing underwriting... For me I can say it was a great investment.

Good luck!

Suz

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M Germer in Palmyra, Pennsylvania

26 months ago

Hey Susan M.,

What experience did you have before taking classes at MUU?

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CelebrityStatus in Dallas, Texas

23 months ago

Whoa girl u just went in. Yet I do agree with u as well... Well send me some literature on classes to take. I know loss mitigation up and down now the underwriting is what I would love to learn ASAP.
Help me..

Oceans11 in Aliso Viejo, California said: Hey Lucia, thanks for your input I appreciate. I've actually been a conventional underwriter for 10 years so I hope I didn't give you the impression I didn't have any experience I was just commenting back to the person(s) who took that FHA On line course. Like I said, although I liked the info & the instructor I haven't found one lender who takes the certificate seriously.

I think this is an instance of, "Time is Money & Money is Time". They want, "Already certified" DE underwriters. I've only found one ad in the past 2 years (recruiter) that stated the employer was willing to train & sponsor for DE certification. I thought to myself, "Awesome, I'm in!!" then it stated, "Must have had underwritten for a lender in the past 6 months" which blows me out of the water because when I got laid off in early 2007 absolutely NO ONE was hiring for u/w's so I took an Underwriting job with a major Healthcare company.

So in a sense I feel like I'm being penalized for stepping outside the industry just to keep a roof over my head & food on the table. But I know thats not the case & I'm not taking it personal.

I think the biggest problem is lenders are almost exclusively using recruitment agencies & many of them really don't understand how to interpret Underwriter resume's. Their just throwing resume's up on a wall & seeing which ones stick. Personally I can't blame them, it's like shooting fish in a barrel right now for them. Easy pickins!!

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reg z in richmond, Virginia

22 months ago

allregs

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villainous in San Jose, California

22 months ago

I decided to pull the trigger and sign up for the www.MortgageUnderwriter.org underwriter bootcamp. Lets see if this thing can help me land an underwriter job. I am writing in this thread to add hands on experience regarding www.MortgageUnderwriter.org and if it works.

To give readers a little bit of my background, I am a licensed Real Estate & Loan Agent for the past 6 years. I also have an AA in Real Estate from a community college. I previously have a Tax Preparer license (expired). Also 12 yr experience as a Project Manager for a manufacturing firm.

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Kel412 in Orlando, Florida

22 months ago

villainous in San Jose, California said: I decided to pull the trigger and sign up for the www.MortgageUnderwriter.org underwriter bootcamp. Lets see if this thing can help me land an underwriter job. I am writing in this thread to add hands on experience regarding www.MortgageUnderwriter.org and if it works.

To give readers a little bit of my background, I am a licensed Real Estate & Loan Agent for the past 6 years. I also have an AA in Real Estate from a community college . I previously have a Tax Preparer license (expired). Also 12 yr experience as a Project Manager for a manufacturing firm.

I am interested in hearing your experience. I have heard that the certificates can help in your employment search, but then I read some comments like the ones above that employers don't really take the certificates serious and it makes me wonder. Keep in touch.

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villainous in San Jose, California

20 months ago

I finally finished my certification and got it today. It took a while because I wanted to view the videos twice. Some of the instructors are good. The videos are very new. The online group session are obviously new. Now lets see how long it takes me to land position.

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villainous in San Francisco, California

20 months ago

So it has been several weeks since I received my cert and circulated my resume. What I am finding is that the www.MortgageUnderwriter.org certification looks good to the recruiters and HR departments calling for potential job offers but when you get to meet and speak to an actual Underwriting supervisor/managers, they all resoundingly never heard of it and seem to undermine its (insert word here)I am still holding out for a potential offer...

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villainous in San Jose, California

19 months ago

Update: Still no underwriting job. As mentioned before, I only get calls from headhunters asking general questions. Then they tell me that they will submit my resume to the underwriter manager and get back to me. Nothing... So pretty much a thousand dollars down the tube. For those reading this considering using www.MortgageUnderwriter.org don't bother.

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lh0217

19 months ago

So..did you find the course to be beneficial in the sense that you learned a lot though?

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lh0217

19 months ago

villainous in San Jose, California said: Update: Still no underwriting job. As mentioned before, I only get calls from headhunters asking general questions. Then they tell me that they will submit my resume to the underwriter manager and get back to me. Nothing... So pretty much a thousand dollars down the tube. For those reading this considering using www.MortgageUnderwriter.org don't bother.

So did you find the course to be beneficial in the sense that you learned a lot?

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Maria in Miami, Florida

19 months ago

I did, however, find a job after taking training through www.mortgageunderwriter.org and will say that it helped me greatly in the interviews because I could actually speak intelligently about underwriting loans... I do not believe that you will find a job simply because you have training certificates on your resume... instead, a company is going to hire you because they can see that you have recent training which means you can demonstrate that you are updated on underwriting regulations, guidelines, compliance, etc... at least for me, I found the courses and instructors to be beneficial and I was able to gain a lot of valuable information... it took a good 3 months or so to land a junior underwriting job at a local bank here in miami.... I hope this helps..

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villainous in San Francisco, California

19 months ago

Did I learn a lot? Bottom line No. Most of it I already knew from RE Finance, escrow procedure, and RE investments courses in college. Not to mention my years of experience as a Loan Agent / RE agent. I did learn a few things. Dont get me wrong some instructors are great and you get to ask (chat) questions. My reason(s) to take this course was to add to my resume. I am/was not solely relying on it to land me a job. The issue that seams to resonate between all the interviews is the fact I have not handled the file. God knows how many 10-03 I have submitted over the years, help clients submit and review verification letters, and clear other loan conditions. So, to hear that someone got an underwriter job based on verbal communication is very skeptical.

The easiest and cheapest way to become a mortgage underwriter is to have a few years experience as a loan processor. From that position you learn how to set up a file and resolve loan conditions.

Maria, I think you should give a little background on yourself to make it clear to readers so that they can get a sense realistic expectation if they wish to become an underwriter.

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Maria in Miami, Florida

19 months ago

Gotcha.... but getting a loan processing job can be challenging as well.... I do agree that there is always a "chicken or the egg" scenario when it comes to landing a job when you don't have direct experience... in my case I did not have any mortgage experience, let alone, underwriting experience whatsoever... so for me I simply made the case that even though I did not have any prior experience, I was "moldable" and had not developed any "bad habits"... I also emphasized that I had received "recent training from scratch" and was updated on all the underwriting guidelines, regulations, etc... this showed my employer that they did not have to spend time/money training me (I was already trained and ready to go)... I also have a Finance degree from U of M which helped... I do fully agree with you that investing in training with the sole purpose of landing a job is not realistic... instead, I would say to use the training as simply a springboard in helping get the interviews, so you can demonstrate in the interview that you have a complete understanding of all underwriting guidelines, procedures etc.. remember, it's truly a number's game when it comes to getting a job offer (especially if you do NOT have any direct prior experience)... it took me a good 10+ interviews to get a company to want to "try me out"... believe me... I got a lot of "No's" before I got one "Yes"... best of luck and keep plugging away!

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Me in Lake Elsinore, California

3 months ago

Some of the underwriters here also need to consider the location of the jobs as well the lady who got her job after her class is in Fl. And since so many banks left Cali and moved operations to TX, AZ, and Fl over the last couple of years this could also be the difference as well Cali market is over saturated due to the fact that for the last few decades we have ruled the front end origination's side Now that companies have cut there over head and moved out of state this took so many of the jobs we had dibs on out of state so try not to be discouraged and take the lack of positions personally.

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