Loan Underwriter Jobs in Chicago, IL
A Loan Underwriter in the banking industry is responsible for evaluating and approving or rejecting loan applications based on the borrower's creditworthiness. They assess the risk involved in lending money to a particular borrower by scrutinizing their financial information, including credit history, income, employment stability, and debt-to-income ratio. They also establish lending terms and conditions, ensure compliance with regulatory standards, and communicate decisions and related information to applicants and loan officers. Since loan underwriting involves significant decision making, it plays a crucial role in maintaining the financial health and sustainability of a bank.
Prior to their role as a Loan Underwriter, an individual may have experience as a Loan Processor, Credit Analyst, or Financial Advisor. These positions help to build a solid foundation in credit analysis, risk assessment, and financial advisory, which are essential skills for Loan Underwriters. Loan Underwriters should have strong analytical, decision-making, and communication skills. They should also possess a detailed knowledge of credit and lending procedures, as well as relevant regulatory standards. Certifications such as the Mortgage Loan Originator (MLO) license or Certified Mortgage Underwriter (CMU) can enhance their credibility and career prospects in the industry.
Underwriter Senior - Home Lending
- Downers Grove, IL (20 miles from Chicago, IL)
- 2 days ago
- Downers Grove, IL (20 miles from Chicago, IL)
- 2 days ago
with all conventional/government lending agencies Preferred Qualifications: Must obtain DE (Direct Endorsement) Designation within a timeframe established by management Underwriting experience with...
Remote WorkSr. Credit Underwriter - Distribution Finance
- Schaumburg, IL (23 miles from Chicago, IL)
- 8 days ago
- Schaumburg, IL (23 miles from Chicago, IL)
- 8 days ago
Basic Qualifications: Bachelor's degree in Finance, Accounting, Business or related field 3+ years wholesale/commercial credit underwriting experience including prior credit approval authority....
Remote WorkYou will be responsible for underwriting, large, complex lending opportunities, balancing risk and growth ensuring loan structures are appropriate and consistent with bank lending standards, assign...
Required Qualifications: 7+ years experience credit, underwriting, and structuring of corporate lending transactions....
You will be responsible for underwriting, large, complex lending opportunities, balancing risk and growth ensuring loan structures are appropriate and consistent with bank lending standards, assign...
As a leading financial services and healthcare technology company based on revenue, SS&C is headquartered in Windsor, Connecticut, and has 27,000+ employees in 35 countries. Some 20,000 financial...
Housing Administration (FHA) underwriting Preferred Qualifications 7+ years of commercial real estate experience 7+ years of experience underwriting FHA-insured loans with some experience managing...
Senior Credit Underwriter, Global Wealth & Investment Management Custom Lending
- Chicago, IL
- 45+ days ago
- Chicago, IL
- 45+ days ago
Purpose: The purpose of the SCU is to use key financial measures and a consistent, structured financial approach to underwrite custom lending requests and mange a loan portfolio in alignment with our...
The ideal candidate has a strong understanding of credit underwriting and can demonstrate an ability to balance detail with broader issues, in both written and oral communication....
Senior Credit Underwriter - Distribution Finance
- Schaumburg, IL (23 miles from Chicago, IL)
- 45+ days ago
- Schaumburg, IL (23 miles from Chicago, IL)
- 45+ days ago
Basic Qualifications: Bachelor's degree in Finance, Accounting, Business or related field 3+ years wholesale/commercial credit underwriting experience and prior credit approval authority....
Remote WorkThe ideal candidate has a strong understanding of credit underwriting and can demonstrate an ability to balance detail with broader issues, in both written and oral communication....
Demographic Data for Chicago, IL
Moving to Chicago, IL? Find some basic demographic data about Chicago, IL below.
Loan Underwriter Online Courses and Training Opportunities
Salary for Loan Underwriter Jobs in Chicago, IL
Highest Education Level
Loan Underwriters in Chicago, IL offer the following education backgroundQualifications / Skill Sets
The following top skills are often required or desired to land a Loan Underwriter position
- Reimbursement
- Federal National Morgage Association
- Mortgage Lending
- Loan Origination
- Consumer Lending
- Lending
- Loan Documentation
- FHLMC
- Federal Housing Administration
- Fannie Mae
- Jumbo Loans
- Loan Review
- Conventional Loans
- Know Your Customer
- Commercial Banking
- Commercial Lending
- Freddie Mac
- Loan Processing
- Credit Underwriting
- Mortgage Processing
- Treasury Management
- Credit Analysis
- Mortgage Underwriting
- Cash Flow Analysis
- USDA
- Loan Servicing
- Financial Services
- Balance Sheets
- Valuation
- Underwriting
- Financial Statements
- Appraisal
- Portfolio Management
- Taxes
- Financial Analysis
- Resolution
- Real Estate
- Customer Satisfaction
- Finance
- Closing
- Process Improvement
- Quality Control
- Accounting
- Decision Making
- Written Communication
- Auditing
- Documentation
- Mentoring
- Bachelor's Degree
- Reporting
- Regulations
- Policy Development
- Problem Solving
- Microsoft Excel
- Microsoft Office
- Time Management
- Staff Supervision
- Organization
- Customer Service
- Leadership
- Communication Skills
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