Loan underwriters are employed by commercial banks, savings institutions, credit unions, and loan processing companies. Although jobs are found throughout the country, opportunities are strongest in large metropolitan areas.
The best way to learn about job openings is to visit the Web sites of banks, mortgage companies, credit unions, and related employers. At many sites, you can apply for jobs. Additionally, the National Association of Mortgage Underwriters offers job listings at its Web site, http://www.mortgageunderwriterjobs.org. Other job-search strategies include networking at career fairs and online, using the resources of one’s high school or college career center, or working your way into the industry by first landing a job as a bank teller, customer service representative, or loan processor.
Advancements opportunities are limited to managerial positions unless the underwriter pursues advanced education. Those who earn bachelor’s degrees can become mortgage bankers. Some underwriters choose to develop advanced skills in specialized lending systems including those used by the U.S. Department of Agriculture and Federal Housing Administration’s loan programs. These skills translate into higher earnings and an increased chance of being promoted.
Visit the following Web sites for job listings:
Create a LinkedIn profile to network and search for jobs. Join groups such as Business Loan Underwriter, Mortgage Professionals, and Loan & Mortgage Underwriter, and follow companies to learn about industry trends and job openings.
Become certified to improve your chances of being hired.
Check out the following resources to learn more about the mortgage industry: