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Mortgage Underwriter Job Description: Top Duties and Requirements

A Mortgage Underwriter, or Mortgage Agent, works on behalf of a financial institution, bank, or credit union to review and approve loan documents for a mortgage. Their duties include assessing financial risk during the mortgage application process, recommending appropriate loan products, and explaining loan details.

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Mortgage Underwriter duties and responsibilities

A Mortgage Underwriter ensures the customer follows all requirements of the mortgage application procedure. They manage the entire process, from a request for information to the completed documentation and signing of the paperwork for a mortgage. Some essential duties and responsibilities of a Mortgage Underwriter may include:

  • Completing and reviewing mortgage application paperwork for accuracy
  • Analyzing applicant’s credit history and financial information to assess eligibility
  • Answering inquiries and questions from lenders and brokers
  • Escalating any applications that require managerial approval
  • Establishing credit terms, pricing, and conditions during the application approval process
  • Creating business relationships with brokers and customers
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Mortgage Underwriter Job Description Examples:

Example 1

Mortgage Underwriter
Western Canada

  • Remote/work from home position available in British Columbia or Alberta.
  • Department: Operations
  • Employment Type / Availability:Full-Time / Immediate with availability from Monday to Friday, 8 a.m. to 10 p.m. (ET) and occasionally Saturdays from 10 a.m. � 6 p.m. (ET)

    -------------------------

    Overview

    *Canada Guaranty is currently seeking a Mortgage Underwriter to support our partners in Western Canada. *The ideal candidate must have effective communication and problem-solving skills, along with a passion for delivering superior customer service. This position involves the adjudication of mortgage default insurance loans within the parameters of Canada Guaranty�s underwriting guidelines and established service standards.

    At Canada Guaranty, our performance-driven culture is built on successful teamwork. If you are a proven team player with a track record of strong performance, we would like to hear from you!

    KEY Responsibilities

  • Underwrite mortgage insurance loans, exercising appropriate judgment and authority in interpreting the company�s credit risk policy. Escalate any exceptions or high-risk files with recommendations to Management.
  • Underwrite loans within parameters of the established client service level agreements.
  • Demonstrate superior customer service skills through telephone and electronic communication with mortgage and lending customers.
  • Effectively negotiate and resolve customer conflicts while adhering to the company�s risk management objectives.
  • Assist in developing and building strategic lender relationships and inform management of any business trends that may impact customer relationships.
  • Adhere to the company�s expectations of underwriter productivity, quality, and data integrity.
  • Perform other duties and assist with special projects to support underwriting and other operational functions within the Underwriting Centre, as required.

    KEY Competencies

  • Experience reviewing tax returns and financial statements.
  • Experience reviewing real estate appraisals.
  • Strong communication and problem-solving skills.
  • Effective analytical skills with attention to detail.
  • Proficiency with, and adaptability to, various underwriting system applications.
  • Ability to work within a fast-paced and time-sensitive environment.
  • Superior customer service skills.
  • Ability to work effectively within a team.

    Education & Experience

  • College Diploma or University degree preferred.
  • 3+ years of loan underwriting experience with a strong background in credit analysis. (NOTE: Less experience will be considered for junior positions on a case-by-case basis.)

    ----------------------------------------------

    NOTE: We appreciate all interest in this position; however, only those selected for an interview will be contacted.Canada Guaranty is committed to an inclusive and accessible recruitment and selection process. If you are invited to attend an interview and require accommodation, please advise us in advance of our meeting.

    Job Types: Full-time, Permanent

    Benefits:
  • Casual dress
  • Company events
  • Dental care
  • Disability insurance
  • Extended health care
  • Life insurance
  • Paid time off
  • RRSP match
  • Tuition reimbursement
  • Vision care
  • Work from home
    Flexible Language Requirement:
  • French not required
    Schedule:
  • Monday to Friday
  • Overtime
  • Weekends as needed
    Supplemental pay types:
  • Bonus pay
  • Overtime pay

    Work Remote

    • Example 2

    Who are we?

    At Mission 35 Mortgages, we provide 5-star mortgage service and advice for our client�s biggest investment, their home. We place importance on education and service to become their mortgage advisor for life.

    Who are we looking for?

    We are looking for an experienced Mortgage Underwriter to add to our growing team at the 59 John Street office. The ideal candidate has a successful record of funding A, B, and private mortgages with at minimum of 2 years of experience. They must be able to manage multiple tasks of almost equal importance and quickly provide solutions to our clients.

    Responsibilities:

    � Manage leads provided and maintain relationships with past clients which includes phone and email communication

    � Complete and review applications on Velocity

    � Fund 20 mortgages a month with assistance from the Closing Specialist

    � Underwriting A, B, and Private Mortgages

    � Underwriting and negotiating renewals

    � Continue our customer service standards

    � Maintain relationships with lenders

    � Attend company educational events and client appreciation events (1-2 per month)

    � Uphold ethical standards with an understanding of industry regulations and company policies

    � Stay current on evolving industry regulations and standards

    � Risk assessment to determine suitable loans for clients

    Qualifications

    � Mortgage Agent License for a minimum of 2 years with experience in funding A, B, and private mortgages

    � University degree or post-secondary diploma

    � Good sense of morals and integrity

    � A successful track record of sales

    � Underwriting experience

    � Ability to multi-task

    � Detail oriented

    � Ability to problem solve

    � Self motivated

    � Experience with Filogix/Velocity is an asset

    � Tech proficiency. Ability to quickly learn and manage lead and deal tracking software.

    Job Type: Full-time

    Salary: $50,000.00-$75,000.00 per year

    Benefits:
  • Company events
    Flexible Language Requirement:
  • French not required
    Schedule:
  • Monday to Friday
  • Weekends as needed
    Supplemental pay types:
  • Bonus pay



    Ability to commute/relocate:
  • Hamilton, ON L8N 2B9: reliably commute or plan to relocate before starting work (required)

    Experience:
  • Mortgage Agent: 2 years Location: In person

    • Example 3

    Pro Funds Mortgages is a boutique mortgage brokerage with 30 years of expertise in real estate acquisitions, development, and mortgage finance. We are a fast growing and dynamic team and have an immediate opportunity in our Burlington, Ontario headquarters.

    General Responsibility

    The Commercial Underwriter will be primarily responsible for obtaining approvals, institutionally, and privately on conventional CHMC and insured products. This role supports internal funding requirements, District REIT, Valour Group of Companies, as well as external investors seeking financing.

    The Commercial Underwriter will also be responsible for financial modeling, analysis, consolidated budgeting, forecasting, and report writing for the property and development team to provide valuable insights in support of operating and strategic planning initiatives. Other responsibilities may include reviews of exiting projects and joint ventures.

    Specific Responsibilities

  • Act as the first point of contact for investors seeking financing, while maintain superior customer service at all times.
  • Writing financial and business plans related to real estate development and property investment opportunities.
  • Prepare Mortgage Request Packages for project and properties.
  • Assist writing Offering Memorandums and Term Sheets for equity in real estate investments.
  • Develop models and other analysis to drive initiatives, monitor trends, identify exceptions and to support budgeting, forecasting, and strategic planning for projects and properties.
  • Analyze the profitability, projections, and other financial models to support decision making, financial feasibility and new business initiatives in collaboration with other departments.
  • Provide timely and accurate analysis and information concerning, LTV, ROI, and ROE.
  • Improve the quality and efficiency of financial reports and models and seek opportunities to streamline analysis and process.
  • Prepare, review, analyze and verify mortgage applications for completeness, accuracy, suitability and risk.
  • Take assets that are being acquired or nearing completion of development/construction, and realign with institutional financing.
  • Complete due diligence analysis on future opportunities.
  • Ensure compliance with all aspects of Pro Funds Mortgages underwriting policies, procedures and guidelines per delegated authority matrices.
  • Adhere to applicable compliance obligations including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements.
  • File Unusual Transaction Reports as applicable to fulfil individual employee obligations to detect and deter financial crimes activity.
  • Maintain consistent, objective and sound risk assessments in a high volume, service-oriented environment.
  • Adhere to defined Service Level Agreement in acknowledging applications and following up on additional required information.
  • Work effectively with all internal business partners to improve underwriting systems to maximize effectiveness and achieve excellence.
  • Remain current on latest developments within the real estate industry and market trends to secure competitive advantage.
  • Make prudent credit decisions on complex mortgage files.
  • Prepare files and recommend mortgage deals for final approval.
  • Maintain accurate information and detailed notes on applications, prepare and issue conditional mortgage commitments outlining all conditions that must be met to Pro Funds Mortgages satisfaction.
  • Issue mortgage commitment according to negotiated and approved terms.
  • Be a team player and rise above to help with reasonable duties as assigned.

    Requirements

  • Minimum 7-years commercial mortgage underwriting experience as an analyst with a major commercial bank.
  • Candidate has experience and understanding of commercial banking sector.
  • Experience generating individual borrower risk rating for commercial borrowers.
  • Experienced in conducting financial analysis of accountant prepared financial statements.
  • Experience with Moody�s risk analytics.
  • Ability and expertise to compile financial forecasts, construction budgets, experience in reviewing quantity surveyor construction reports.
  • Ideal candidate has experience working with a commercial bank in area of corporate finance or real estate.
  • Ideal candidate has completed a training program within a commercial banking institution.
  • Preference is given to candidates that have a CPA or CFA designation.

    WHAT WE OFFER

    We are a work environment that cares about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual. At Pro Funds Mortgages and Valour Group, you will have the ability to make a difference and have a lasting impact. We are committed to continuous learning and professional development with excellent opportunity for advancement within the organization.

  • Join a dynamic, collaborative, high performing team of professionals.
  • Work in a modern, spacious office, with impressive amenities.
  • Excel with opportunities professional development and career advancement.
  • Participate in frequent employee engagement events.
  • Receive a competitive salary and health benefits plan.

    Pro Funds Mortgages and Valour Group welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.

    Job Type: Full-time

    Benefits:
  • Dental care
  • Paid time off
  • Tuition reimbursement
    Schedule:
  • 8 hour shift
  • Monday to Friday



    Ability to commute/relocate:
  • Burlington, ON L7N 3T2: reliably commute or plan to relocate before starting work Location: In person

    • Example 4

    Work Location: 895 Don Mills Road, North York

    Work Hours: Monday to Friday - 10 AM to 6 PM

    Role Summary:

    The Underwriter works closely with the Mortgage Agents and Brokers to provide our clients with the best options. This position consists of administrative tasks, maintaining relationships and connecting our mortgage agents and brokers with various lending options.

    The role requires you to communicate in a professional and timely manner, and to maintain discretion always

    This Underwriter position has a huge potential for growth as our company is growing rapidly.

    Duties and Responsibilities
  • Investigate and evaluate mortgage and loan applications, ensure compliances with organizational processes, aligning with senior management as needed
  • Coordinate and analyze credit applications and ensure consistent, objective, and sound credit decisions are made
  • Ensure mortgage applications are completed within a specific time frame
  • Structure files to ensure that transactions are processed in a timely and efficient manner
  • Ensure that the application paperwork is accurate and complete
  • Verify data and information on mortgage applications with third parties as required
  • Collect and review the required documentation while working with lending partners to satisfy conditions
  • Send the mortgage paperwork to the applicable financial institution for approval
  • Work closely with lending partners to resolve issues while maintaining a great working relationship
  • Ensure that approved deals close as scheduled and as efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines.
  • Provide best-in-class support to the clients as they progress through the application process
  • Remain professional when dealing with lenders, clients, and mortgage brokers
  • Maintain up to date knowledge of lending options
  • Update mortgage brokers about the status of their deals within an appropriate time frame
  • Conduct oneself through the proper policies and procedures created by Urban Money and the mortgage industry
  • Build rapport with internal and external stakeholders and maintain working relationships with assigned external client groups
  • Resolve any escalated credit issues, reply to internal and external client queries, and communicate credit decisions and recognizes when issues require escalations

    About you / Qualifications:
  • Post-secondary degree or diploma in a related field
  • At least 2 years of experience in a Mortgage Underwriter capacity and or comparable experience in a similar role
  • Understanding of the mortgage industry and lifecycle
  • Understanding of credit and underwriting practices, and lending products
  • Understanding of the financial services industry, its independent distribution channels, and the regulatory environment
  • Be able to provide administrative services such as corporate searches, title pulls, tax requests, etc�
  • Be able to handle administrative duties in an organized, efficient, and accurate manner; be detail oriented
  • A team player with strong interpersonal skills
  • Be able to provide training to mortgage brokers on an array of different topics and concepts
  • Help new and experienced brokers place deals with lenders
  • Ability to work under tight deadlines and maintain composure under pressure
  • Expertise in alternative, private and construction financing would be an asset
  • Should possess a self-starter mentality and work ethic
  • Proficiency in computer skills, including MS Products and Lending Operating systems; capacity to quickly learn new technologies/systems required
  • Willing to obtain Mortgage Broker license

    Note:This is an In-Office Full Time position for Candidates in the GTA

    Job Types: Full-time, Permanent

    Salary: $50,000.00-$55,000.00 per year

    Schedule:
  • 8 hour shift

    Ability to commute/relocate:
  • North York, ON: reliably commute or plan to relocate before starting work 4 years (preferred)

    • Example 5

    Role: Mortgage Underwriter

    Moskowitz Capital is a top-performing lender providing non-traditional commercial mortgages that allow individuals and businesses to capture lucrative opportunities that far exceed the cost of capital. For 20 years we have been funding Construction, Term, Land & Special Situation loans from $250,000 to $10,000,000. What sets us apart from other sources of funds is that we are a "storybook" lender; we listen to your story and develop timely and creative solutions that work for borrowers.

    Our culture is supportive and collaborative. We operate a professional financial services business with a family-friendly culture.

    Job Description
    This is a unique opportunity for a high achiever who wishes to control their future with a profitable, growing and entrepreneurial company. The successful candidate will play a key role in growing Moskowitz Capital's mortgage portfolio by assuming the responsibility for mortgage underwriting. The Underwriter will report directly to senior management, providing an opportunity to learn from the best in the business. You will learn by doing real deals alongside the Moskowitz Capital team.

    Responsibilities
    The successful candidate will embrace the opportunity to build upon Moskowitz Capital's track record of success. To do this, he/she/they will;

  • Initiate and assist in evaluating new mortgage lending opportunities
  • Conduct due diligence; including financial statement analysis, interview applicants, review leases, construction contracts, appraisals, legal documentation, environmental reports and other deal-related information
  • Responsible for writing and presenting investment summary to the investment committee
  • Engage and manage lawyers in their legal due diligence
  • Work with all relevant parties including lawyers, brokers and consultants to assist in the closing of the transaction
  • Support in the administration of the mortgage portfolio
  • Periodic travel as required for due diligence purposes

    Desired Skills and Expertise
    This position demands an independent self-starter with high degree of drive. You will be expected to function independently with minimal direct oversight as your skills progress and develop. The successful candidate will possess the following qualifications:

  • Undergraduate business degree or MBA
  • Proficient at financial statement analysis
  • Commercial lending experience is helpful
  • Impressive inter-personal and presentation skills
  • Strong moral compass

    Only candidates that we wish to meet will be contacted.

    Job Types: Full-time, Permanent

    Job Type: Full-time

    Salary: From $80,000.00 per year

    Benefits:
  • Extended health care
    Schedule:
  • Monday to Friday
    Supplemental pay types:
  • Bonus pay

    Education:
  • Bachelor's Degree (required)

    Experience:
  • underwriting: 2 years start date: 2022-11-28

    • Example 6

    Role Summary

    The successful candidate will be expected to work from our Wetaskiwin, AB office.

    Source Capital is a DLC Franchise Brokerage looking to expand. In this role, you will be working with our Office Manager and assigned Source Capital Associates to underwrite and complete the mortgage process with Clients. You will liaison with the Source Capital Associates and their Clients to ensure a smooth and easy client experience. A great opportunity to grow with a highly engaged and growing Brokerage.

    Accountabilities
  • Excellent credit knowledge
  • Able to structure mortgage applications and submit to the appropriate Lender
  • Excellent organizational skills and strong attention to detail
  • Effective communication skills, both written and verbal
  • Adhere to Service Standards and delivering on commitments
  • Working knowledge of Velocity is a plus, training is available

    Requirements
  • Team Player Attitude
  • Minimum 1 year, 2 years preferred, Mortgage underwriting/assisting experience
  • Broker License

    Contact
  • Roger Dusanj and Jennifer Belik

    Job Types: Full-time, Part-time
    Part-time hours: 20-40 per week

    Salary: $50,000.00-$60,000.00 per year

    Additional pay:
  • Bonus pay
    Schedule:
  • Monday to Friday
  • Weekend underwriting: 1 year (preferred)

    • What does a Mortgage Underwriter do?

    Banks, loan companies, and other financial groups employ Mortgage Underwriters to represent their interests during the mortgage application process. While most Mortgage Underwriters work with various customers, others may work with only a select few high-performing mortgage brokers, depending on volume. When first starting, an individual typically performs as a Mortgage Underwriter Associate, assisting more senior Underwriters. Once they have accumulated two or more years of experience, they can move into a Mortgage Underwriter role.

    Mortgage Underwriter skills and qualifications

    A Mortgage Underwriter must have extensive knowledge of the mortgage process, including all necessary paperwork. Working on behalf of the lender, they must work with integrity and discernment. Top skills for a Mortgage Underwriter include:

    • Exceptional communication skills to correspond clearly with brokers and clients
    • Ability to manage multiple applications at a time
    • Time management skills to complete tasks promptly
    • Attention to detail ensuring that they attend to all elements of the application process
    • Ability to assess a client’s credit and to analyze financial data, including tax returns and other financial documents
    • Comfortable prioritizing their work schedule and required tasks

    Mortgage Underwriter experience requirements

    Mortgage Underwriter candidates typically require a minimum of two years of experience in a Mortgage Underwriter Associate. A successful candidate will have experience working within the real estate or financial industry in addition to formal education, reviewing mortgage applications and financial documents. Depending on your company’s requirements, a candidate may benefit from experience with specific customer management and mortgage software, such as SalesForce, Filogix, or Velocity.

    Mortgage Underwriter education and training requirements

    Mortgage Underwriter candidates need to have completed post-secondary education, for example, a bachelor’s degree in business administration, economics, or finance. The role is a regulated profession in most provinces and territories. Be sure that candidates have the necessary certification for your area of operation.

    Mortgage Underwriter salary expectations

    According to Indeed Salaries, average pay for a Mortgage Underwriter in Canada is $20.57 per hour. The actual salary earned will depend on factors like experience, location, education, and the hiring company.

    Job description samples for similar positions

    If a Mortgage Underwriter job description sample is not quite what you are looking for, other job description samples that may fit your needs include:

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    Mortgage Underwriter job description FAQs

    What is the difference between a Mortgage Broker and a Mortgage Underwriter?

    You can make your job description stand out for a Mortgage Underwriter by defining your company’s vision and values. Specify if you need candidates to have knowledge of particular software. For a more senior role, be sure to include any additional management or leadership qualifications you require. Also include any unique benefits and incentives your company offers to employees.

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    Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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