Will “Mortgage Underwriter” be Replaced By Robots? 🤔
100 % Chance of Automation
“Mortgage Underwriter” will definitely be replaced by robots.
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Job Description
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
Job Details
- The SOC (Standard Occupational Classification) code is 13-2072.00
- The Mean Annual Wage in the U.S. is $ 76,260.00
- The Mean Hourly Wage is $ 36.00
- Currently, there are 305,700 people on this job
☝️ Information based on the reference occupation “Loan Officers”.
Also Known As…
- Loan Officers
- Relationship Manager
- Portfolio Manager
- Mortgage Loan Originator
- Mortgage Loan Officer
- Loan Officer
- Corporate Banking Officer
- Commercial Loan Officer
- Commercial Banker
- Business Banking Officer
- Branch Manager
- Small Business Banking Officer
- Real Estate Officer
- Real Estate Loan Officer
- Personal Loan Specialist
- Personal Banking Officer
- Mortgage Specialist
- Mortgage Originator
- Mortgage or Loan Underwriter
- Mortgage Loan Closer
- Mortgage Consultant
- Mortgage Closer
- Mortgage Broker
- Mortgage Banker
- Loan Workout Officer
- Loan Supervisor
- Loan Specialist
- Loan Servicing Specialist
- Loan Service Officer
- Loan Reviewer
- Loan Originator
- Loan Interviewer
- Loan Examiner
- Loan Counselor
- Loan Coordinator
- Loan Consultant
- Loan Auditor
- Loan Approver
- Loan Analyst
- Loan Adviser
- Loan Administrator
- Lender
- Home Lending Officer
- Farm Loan Representative
- Escrow Officer
- Consumer Loan Officer
- Commercial Mortgage Broker
- Commercial Loan Collection Officer
- Commercial Lender
- Business Banker
- Branch Lending Officer
- Branch Banker
- Branch Account Manager
- Branch Account Executive
- Banking Services Officer
- Bank Representative
- Bank Officer
- Agricultural Loan Officer
Tasks for “Mortgage Underwriter”
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Handle customer complaints and take appropriate action to resolve them.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Submit applications to credit analysts for verification and recommendation.
- Arrange for maintenance and liquidation of delinquent properties.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Petition courts to transfer titles and deeds of collateral to banks.
- Negotiate payment arrangements with customers who have delinquent loans.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Interview, hire, and train new employees.
- Compute payment schedules.
- Supervise loan personnel.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Confer with underwriters to aid in resolving mortgage application problems.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Review and update credit and loan files.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Provide special services such as investment banking for clients with more specialized needs.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
Related Technology & Tools
- Desktop computers
- Scanners
- Notebook computers
- Personal computers
- Personal digital assistants PDA
- Tablet computers
- Microsoft Excel
- Ellie Mae Contour
- Financial Industry Computer Systems Loan Accountant
- Microsoft Outlook
- Financial Industry Computer Systems Loan Originator
- Moody's KMV Financial Analyst
- Plimus Loan Artist
- Fair Isaac Capstone Decision Manager
- Integra Destiny Loan Origination
- Experian Retention Triggers
- Microsoft Office
- VueCentric MortgageDashboard
- Moody's KMV CreditEdge
- Moody's KMV Risk Advisor
- Experian Quest
- CGI-AMS Strata
- eCredit Enterprise
- IBM Notes
- Bankers Systems Rembrandt Lending System
- IA Systems StreamLend
- White Clarke North America Credit Adjudication and Lending Management
- Financial Industry Computer Systems Loan Producer
- LexisNexis
- Loan application processing software
- eOriginal eCore Business Suite
- Harland Interlinq MortgageWare
- CGI-AMS CACS Enterprise
- Technicost LOS
- Customer information control system CICS
- Amortization loan software
- Opportunity management system OMS
- Equifax InterConnect
- Experian Transact SM
- Wolters Kluwer Financial Services ComplianceOne
- Experian FraudShield
- Microsoft Word
- California Infinite LPS
- The Mortgage Office Loan Origination
- Bottom Line LoanMaster Loan Servicing
- Credit underwriting software
- The Mortgage Office Loan Servicing
- Microsoft PowerPoint
- Equifax Application Engine
- Web browser software
- LA PRO Loan Administrator Pro
- Moody's KMV Risk Analyst
- Freddie Mac Loan Prospector
- Equifax Advanced Decisioning
- Common business oriented language COBOL
- Experian Credinomics
- Ellie Mae Genesis
- Experian Strategy Management
- Loan origination software
- QuikDraw Loan Management System
- FAS Loan Service Plus
- Fair Isaac Application Risk Model Software
- Click1003 Online Mortgage Application
- Indus Lending Solutions
- RealBenefits Amortization Loan
- CGI-AMS BureauLink Enterprise
- Delphi Discovery
- Fannie Mae Desktop Underwriter
- 1003 Uniform Residential Loan Application
- Experian Detect
- Credit and risk analysis software
- Dynamic Loanledger
- Calyx Point
- Fair Isaac Falcon ID
- Dun and Bradstreet Global DecisionMaker
- Harland Financial Solutions DecisionPro
- Moody's KMV Decisions
- Credit fraud detection software