Loan Underwriter Jobs in Virginia
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.
Work closely and collaboratively with loan originator and processor to ensure all appropriate data and required documentation is obtained Participate in mentoring sessions for Mortgage Processors, Mortgage...
lending process and workflow through post-closing Sound knowledge of secondary & private investor loan programs Strong oral and written communication skills with solid organizational, interpersonal...
Our Impact: Our team is responsible for underwriting Targeted Affordable Housing (TAH) loans originated coast to coast by our network of Optigo Lenders We are innovators in the industry by evaluating...
Performs second reviews of denied loans Updates Loan Origination System and Automated Underwriting Systems Mortgage Loan Underwriter Senior can underwrite multiple loan types and/or loans with highly...
Demographic Data for Virginia
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Loan Underwriter Online Courses and Training Opportunities
Salary for Loan Underwriter Jobs in Virginia
Highest Education Level
Loan Underwriters in Virginia offer the following education backgroundQualifications / Skill Sets
The following top skills are often required or desired to land a Loan Underwriter position
- Presentation
- Marketing & Sales
- Property and Casualty Insurance
- Reimbursement
- CPCU
- Mortgage Lending
- Loan Origination
- Lending
- Consumer Lending
- Nationwide Mortgage Licensing System & Registry
- Federal Housing Administration
- Federal National Morgage Association
- Loan Documentation
- Credit Underwriting
- Commercial Banking
- Jumbo Loans
- BSA
- Loan Review
- Conventional Loans
- Commercial Lending
- FHLMC
- Freddie Mac
- Loan Processing
- Private Banking
- Cross Selling
- OFAC
- Fannie Mae
- Encompass
- Mortgage Processing
- Financial Services
- Mortgage Underwriting
- Credit Analysis
- Cash Flow Analysis
- Balance Sheets
- Valuation
- Underwriting
- Financial Statements
- Appraisal
- Portfolio Management
- Financial Analysis
- Real Estate
- Risk Management
- Closing
- Finance
- Accounting
- Auditing
- Written Communication
- Negotiation
- Verbal Communication
- Mentoring
- Documentation
- Reporting
- Collaboration
- Policy Development
- Coaching
- Filing
- Bachelor's Degree
- Regulations
- Microsoft Office
- Problem Solving
- Microsoft Excel
- Sales
- Time Management
- Staff Supervision
- Organization
- Leadership
- Communication Skills
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