Loan Underwriter Jobs in Illinois
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.
Minimum Requirements Bachelor's degree and three years of residential underwriting and/or consumer lending experience, and/or retail banking experience; or combination of experience and education....
Professional Liability Underwriter - Real Estate
- Bartonville, IL
- 2 days ago
- Bartonville, IL
- 2 days ago
If you have a passion for the insurance sector and a detailed eye for underwriting, this permanent position could be your next career move....
City National Bank Manager Mortgage Loan Underwriter in Springfield , Illinois MANAGER MORTGAGE LOAN UNDERWRITER WHAT IS THE OPPORTUNITY?...
Minimum four years of commercial credit underwriting or equivalent commercial lending experience preferred. Understanding of dealership and wholesale administration a plus....
Senior Credit Underwriter - Distribution Finance
- Schaumburg, IL
- 17 days ago
- Schaumburg, IL
- 17 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 WorkPurpose: 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...
Senior Financial Underwriter - Employer Direct
- Schaumburg, IL
- 23 days ago
- Schaumburg, IL
- 23 days ago
decisions effectively to key stakeholders Negotiate contract terms and conditions to achieve favorable underwriting outcomes Review and approve underwriting requests, ensuring compliance with company...
Here, you'll have the opportunity to shape the future of underwriting and make a meaningful impact....
Senior Financial Underwriter - Employer Direct - Remote
- Schaumburg, IL
- 30+ days ago
- Schaumburg, IL
- 30+ days ago
decisions effectively to key stakeholders Negotiate contract terms and conditions to achieve favorable underwriting outcomes Review and approve underwriting requests, ensuring compliance with company...
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....
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...
Mortgage Loan Underwriter II Company: City National Bank Location: Springfield, IL Date Posted: 12/3/24, 6:17 AM MORTGAGE LOAN UNDERWRITER II WHAT IS THE OPPORTUNITY?...
Adds value to ultimate client relationship by providing timely response and quality underwriting in coordination with client needs....
Maintain underwriting discipline by complying with underwriting authority, guidelines, and directives. Work closely with home office underwriting, actuarial, product development, and legal teams....
Demographic Data for Illinois
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Loan Underwriter Online Courses and Training Opportunities
Salary for Loan Underwriter Jobs in Illinois
Highest Education Level
Loan Underwriters in Illinois offer the following education backgroundQualifications / Skill Sets
The following top skills are often required or desired to land a Loan Underwriter position
- Federal National Morgage Association
- Mortgage Lending
- Consumer Lending
- Lending
- Loan Origination
- Loan Documentation
- FHLMC
- Fannie Mae
- Jumbo Loans
- Loan Review
- Commercial Banking
- Freddie Mac
- BSA
- Commercial Lending
- Federal Housing Administration
- Tila Respa Integrated Disclosures
- Loan Processing
- Credit Underwriting
- Mortgage Processing
- Loan Servicing
- Credit Analysis
- Cash Flow Analysis
- Mortgage Underwriting
- Financial Services
- Balance Sheets
- Underwriting
- Valuation
- Financial Statements
- Appraisal
- Financial Modeling
- Due Diligence
- Financial Analysis
- Resolution
- Real Estate
- Customer Satisfaction
- Finance
- Accounting
- Process Improvement
- Quality Control
- Decision Making
- Auditing
- Verbal Communication
- Written Communication
- Documentation
- Bachelor's Degree
- Reporting
- Sales
- Regulations
- Policy Development
- Microsoft Excel
- Microsoft Office
- Problem Solving
- Time Management
- Staff Supervision
- Organization
- Customer Service
- Leadership
- Communication Skills
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