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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:

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.

Job Description Examples

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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