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Comments (18)

Host

What are the top 3 traits or skills every underwriter must have to excel?

Can you suggest any tips or insights to develop your underwriter expertise?

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Lisa in Denver, Colorado

84 months ago

Shatina Patterson in Akron, Ohio said: There are a couple qualities that may be needed to excel in this position as a underwriter is 1. Common Sense-you must know and comprehend your customer base, create a mental picture of this customer in order to give a percise decision. 2. accuratacy- All decision made by the underwriter, must be accurate and have fact to back up your decision. 3.

One of the most valuable traits in underwriting is by far, EXPERIENCE. As, no matter what kind of training you undgo, much of what an underwriter learns is by hands-on application. After so many scenarios, you learn to assess and evaluate certain job types, income types, credit types, assets and income versus total debt ratios, etc. The more experience you have, the better you become at evulating a file submission

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youtalkwireless@hotmail.com in Palm Bay, Florida

82 months ago

Can someone tell me what certifications or classes I can obtain to help get into underwriting?

Thank you!!

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Not given in Denver, Colorado

82 months ago

youtalkwireless@hotmail.com in Palm Bay, Florida said: Can someone tell me what certifications or classes I can obtain to help get into underwriting?

Thank you!!

Depends on what kind of underwriting

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youtalkwireless@hotmail.com in Palm Bay, Florida

82 months ago

I'm looking to get into loan underwriting, and possibly insurance later on.

Does anyone know of schools that offer classes?

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N. Brooks in Huntington Beach, California

80 months ago

Shatina Patterson in Akron, Ohio said: There are a couple qualities that may be needed to excel in this position as a underwriter is 1. Common Sense-you must know and comprehend your customer base, create a mental picture of this customer in order to give a percise decision. 2. accuratacy- All decision made by the underwriter, must be accurate and have fact to back up your decision. 3.

You say accuracy and then spell it wrong!!! What a joke......

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24 yrs experience in Rushville, Indiana

79 months ago

Host said: What are the top 3 traits or skills every underwriter must have to excel?

I used to believe that knowledge, accuracy and experience were the most important. The way the industry is changing, these are important, but things have become so political that other top traits would be excellent communications skills (including the ability to put a spin on things to save your neck if you make a decision that upsets their top Loan Officers), being able to play the political office games, and speed -- employers demand that you produce a high volume of credit decisions, yes, mortgage companies, brokers, federal banks that lend, are all sweat shops. I do still believe that knowledge is key, but the ability to work fast is VERY HIGHLY valued. You can gain more knowlege on your own about FHA loans by going to www.hud.gov, and just read, read, read, read. You can look there for the "Lenders" section. Also, for VA loans, try www.va.gov. Again, look for the sections for Lenders (which might be under headings such as "Partners" or similar term). Good luck, it's interesting work, but be ready to feel like you're in a pressure cooker, and pray that your employer has an up-to-date computer system. If they use a system called TMO, run for your life, as I believe it's the most outdated mortgage system there is.

Can you suggest any tips or insights to develop your underwriter expertise?


Read as much as you can. Look for the subtle nuances (yes, they are there, even when you're involved with numbers/figures). Listen in and join conversations with other underwriters if possible to share experience. Request FHA &/or VA training from your employer -- as conventional loan requirements get tighter, the government loan volume is expected to increase

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huy in Everett, Washington

79 months ago

asmb.com

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Undisclosed in Park Ridge, Illinois

76 months ago

Host said: What are the top 3 traits or skills every underwriter must have to excel?

Can you suggest any tips or insights to develop your underwriter expertise?

Yeah, Kiss the sales managers butt.
Don't make waves in the office,
And no matter what don't find too much fraud or they will fire you.

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Meezer in Indianapolis, Indiana

71 months ago

24 yrs experience in Rushville, Indiana said: Read as much as you can. Look for the subtle nuances (yes, they are there, even when you're involved with numbers/figures). Listen in and join conversations with other underwriters if possible to share experience. Request FHA &/or VA training from your employer -- as conventional loan requirements get tighter, the government loan volume is expected to increase

I'm in Indianapolis and looking for an mortgage underwriting position. Any leads for companies you might know of?
Thanks

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jbowman34 in Pembroke, Massachusetts

70 months ago

youtalkwireless@hotmail.com in Palm Bay, Florida said: I'm looking to get into loan underwriting, and possibly insurance later on.

Does anyone know of schools that offer classes?

Don't do it. I'm an unemployed underwriter with 20 years experience, I wish I had other skills

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Jason in North Charleston, South Carolina

70 months ago

jbowman34 in Pembroke, Massachusetts said: Don't do it. I'm an unemployed underwriter with 20 years experience, I wish I had other skills

If you are a self motivated person that is coach able I can help. I'm a recruiter for a NYSE company that markets Legal & Identity Theft Services. I am covering the south east region right now, but we are looking in every state. Go to www.wantcashflow.com

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Anonymous in Palmdale, California

69 months ago

Jason in North Charleston, South Carolina said: If you are a self motivated person that is coach able I can help. I'm a recruiter for a NYSE company that markets Legal & Identity Theft Services. I am covering the south east region right now, but we are looking in every state. Go to www.wantcashflow.com

I am an unemployed insurance underwriter/actuarial analyst/software tester with 30 years experience in Personal Auto, Commercial Auto, and Trucking, and just about all that you've heard about the mortgage industry applies to the insurance industry as well. They SAY they want good underwriting, and I brought my agents to improve loss ratios to about 25% (from 90% or 160%). from Palmdale CA

P.S. Back in the mid-90's I knew about the tricks involved in loan approval because they rode on the vanpool with their boss, like putting borrowed $$ into a checking account for the one day that the bank would check to see if sufficient savings to qualify for a loan. There was a bonus for each employee of $100 for each loan approved. They were giddy and bragged about what they were doing. As an underwriter, I was disgusted and tuned them out.

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Jane in Oakland, California

63 months ago

I have been unemployed for quite a few years now. Although I have taken jobs in other fields, most of my experience is in insurance. My last job in this field was filled with foul-mouthed employees that discriminated against most females over 40. After being released I felt like what it must feel for someone leaving prison. I was FREE! Since the ringleader was every male's wet dream, at least at that job, it was all allowed to go on for quite some time. After deciding to put my objections in writing, I lost my job. I have not been able to secure a job in the filed since. I suspect that they give people that call to confirm I worked for them negative feedback about me, but I can't prove it. Anyway, I was a very good employee for any company I worked for. I was responsible, deligent, a self starter, and could be left alone to work by myself without fear of being robbed. I can and have put up with a lot, but I draw the line at bullies. I will not put up with them or their owners.

I have over 17-years experience as a technical assistant in the insurance industry. Is this type of experience no longer desired? Just asking because I haven't seen anything lately so if the field is still active and someone can use an extremely hard worker that will get the job done and is always straight up, I'm the one.

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financingdiva in Plainfield, New Jersey

61 months ago

Jane in Oakland, California said: I have been unemployed for quite a few years now. Although I have taken jobs in other fields, most of my experience is in insurance. My last job in this field was filled with foul-mouthed employees that discriminated against most females over 40. After being released I felt like what it must feel for someone leaving prison. I was FREE! Since the ringleader was every male's wet dream, at least at that job, it was all allowed to go on for quite some time. After deciding to put my objections in writing, I lost my job. I have not been able to secure a job in the filed since. I suspect that they give people that call to confirm I worked for them negative feedback about me, but I can't prove it. Anyway, I was a very good employee for any company I worked for. I was responsible, deligent, a self starter, and could be left alone to work by myself without fear of being robbed. I can and have put up with a lot, but I draw the line at bullies. I will not put up with them or their owners.

I have over 17-years experience as a technical assistant in the insurance industry. Is this type of experience no longer desired? Just asking because I haven't seen anything lately so if the field is still active and someone can use an extremely hard worker that will get the job done and is always straight up, I'm the one.

Hey Jane,

I'd be interested in speaking with you. You can email me at lcgfinance@yahoo.com

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Jane in Newark, California

61 months ago

Sure thing

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Insurancenthegenes in Waterbury, Connecticut

32 months ago

Hi everyone,

I'm a young and ambitious guy interested in working as a insurance underwriter. I have worked with Northland(a subsidiary of Travelers). I was learning commercial Trucking and I'm still interested in commercial lines. I have also worked with a State Farm agent. I have a Finance degree from the University of Connecticut.

If anyone is interested in taking on a hard-working underwriter I would be very interested.

vinnisomra@gmail.com

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verilly in Palm Harbor, Florida

14 months ago

youtalkwireless@hotmail.com in Palm Bay, Florida said: Can someone tell me what certifications or classes I can obtain to help get into underwriting?

Thank you!!

You need to get into a company that has an underwriting department. Then look for opportunities to transfer in, maybe as a junior underwriter. There are classes you can take to boast that you have tried to gain underwriting knowledge on your own, such as mortgage university, on your resume, but being in a company that you can transfer to underwriting could help. If you are detail oriented and an analytical thinker, those are qualities of an underwriter. Don't forget most companies want you to be goal driven as well. Don't let meeting your goals outweigh getting 100% quality scores on your loans once you are an underwriter.

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