Job Role Description

Mortgage and Lending > Senior Underwriter

Salary National Average

Low Medium High
65410.0000 83190.0000 104730.0000

Change from Previous Year:

+3%

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Short Description:

Underwrite mortgage loan applications and evaluate loans to maximize organizational profit and minimize risk or loss. Monitor property appraisal process. May train less experienced Underwriters.

Duties / Responsibilities:

  • Decrease policy's value when risk is substandard and specify applicable endorsements or apply a rating to ensure safe, profitable distribution of risks, using reference materials.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
  • Review company records to determine the amount of insurance in force on a single risk or group of closely related risks.
  • Examine documents to determine the degree of risk from such factors as the applicant's financial standing and the value and condition of the property.
  • Authorize reinsurance of policy when risk is high.
  • Evaluate the possibility of losses due to catastrophe or excessive insurance.

Skills / Requirements / Qualifications

  • Active Listening: Giving full attention to what other people are saying, taking time to understand the points made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Judgment and Decision Making: Considering the costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension: Understanding written sentences and paragraphs in work-related documents.
  • Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Speaking: Talking to others to convey information effectively.
  • Writing: Communicating effectively in writing as appropriate for the audience's needs.
  • Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Time Management: Managing one's own time and the time of others.
  • Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
  • Active Learning: Understand new information implications for current and future problem-solving and decision-making.

Job Zones

  • Education: Most of these occupations require a four-year bachelor's degree, but some do not.
  • Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, or vocational training.
  • Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
  • Specific Vocational Preparation in years: 2-4 years preparation (7.0 to < 8.0)

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