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.
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...
with all conventional/government lending agencies Preferred Qualifications: Must obtain DE (Direct Endorsement) Designation within a timeframe established by management Underwriting experience with...
Remote WorkBasic Qualifications: Bachelor's degree in Finance, Accounting, Business or related field 3+ years wholesale/commercial credit underwriting experience including prior credit approval authority....
Remote WorkSUPERVISOR MORTGAGE LOAN UNDERWRITER* WHAT IS THE OPPORTUNITY?...
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...
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...
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....
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
- 45+ days ago
- Schaumburg, 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 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
- Reimbursement
- Federal National Morgage Association
- Mortgage Lending
- Loan Origination
- Consumer Lending
- Lending
- Loan Documentation
- FHLMC
- Federal Housing Administration
- Fannie Mae
- Jumbo Loans
- BSA
- Loan Review
- Conventional Loans
- Know Your Customer
- Commercial Banking
- Commercial Lending
- Freddie Mac
- Tila Respa Integrated Disclosures
- 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 Modeling
- Financial Analysis
- Resolution
- Real Estate
- Finance
- Closing
- Accounting
- Decision Making
- Written Communication
- Verbal Communication
- Auditing
- Documentation
- Bachelor's Degree
- Reporting
- Regulations
- Policy Development
- Sales
- Problem Solving
- Microsoft Excel
- Microsoft Office
- Time Management
- Research Skills
- Staff Supervision
- Organization
- Customer Service
- Leadership
- Communication Skills
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