Take relevant high school classes. There is no single career path toward becoming a mortgage underwriter, but there are important classes that can help prepare you for a job in that field. It's never too early to start studying mathematics, as you will need to be proficient in math and data analysis to become a successful mortgage underwriter.[2] X Research source The best preparation for a career in mortgage underwriting is to take as many accounting and mathematics classes as possible.[3] X Research source Apply to college. Most schools do not offer a specialized degree in mortgage underwriting, but mortgage firms and banks tend to look for certain education credentials in mortgage underwriter applicants. Knowing what courses and degree programs to study can help you secure a better position as a mortgage underwriter. Loan officers like mortgage underwriters are typically required to earn a four year bachelor degree.[4] X Research source Many mortgage underwriters major in business administration or finance.[5] X Trustworthy Source US Bureau of Labor Statistics U.S. government agency that collects and reports labor-related information Go to source There is no firm requirement,

however, and many successful applicants had other majors but took extensive coursework in accounting, business law, and insurance.[6] X Research source Pursue an internship. Many banks and banking industry trade groups now offer internships of varying lengths to interested college students and recent graduates. You'll need to actively pursue an internship, and there may be steep competition among other interested students. Seek out internships by searching online for banking, investment, or credit analyst internships. You can also reach out directly to a banking institution or trade group in your region by searching for them online. The Massachusetts Bankers Association runs a summer-long internship program that immerses college students in the world of financial banking.[7] X Research source Similar opportunities are available for recent graduates. RBS Citizens (part of Citizens Financial Group) offers a year-long training program, which combines classroom studies on finance and credit analysis with rotating positions at the bank to give trainees a comprehensive introduction to all aspects of commercial banking.[8] X Research source Earn a degree. Once you've earned a four-year

bachelor degree, either in business/finance or in another degree with relevant coursework, you're eligible to apply to most mortgage underwriting positions.[9] X Research source You'll need extensive on-the-job training, however, before you can become a certified loan officer. Apply for assistant/trainee positions. Before you can become a full-fledged mortgage underwriter, you will have to accrue entry-level experience and training. Most entry-level positions for recent graduates will be trainee or assistant positions.[10] X Research source Most mortgage underwriters work for banks, credit unions, or mortgage broker firms.[11] X Research source Search for entry-level mortgage underwriter jobs online. You can use websites like Monster.com or Indeed.com, or apply directly to firms by searching for financial institutions in your area. Assistant or trainee positions often lead to jobs, either at the office you trained with or through connections made at that position. Acquire on-the-job training. Training periods typically last one year or less, with many training periods lasting only a few months.[12] X Research source This training is necessary to get recent graduates experienced in

the day-to-day world of mortgage and finance. Training may entail informal training, formal training sponsored by the firm or company you work for, or some combination of the two.[13] X Trustworthy Source US Bureau of Labor Statistics U.S. government agency that collects and reports labor-related information Go to source If your firm or company uses underwriting software, you will be required to take classes and accrue experience working with that company's particular software programs.[14] X Trustworthy Source US Bureau of Labor Statistics U.S. government agency that collects and reports labor-related information Go to source Try to make strong connections with colleagues at your entry-level position. Networking is a good way to find jobs in the future, either after your training ends or once you're ready to advance into a new position. Consider getting certified. Though certification is not a prerequisite for employment, a professional certification can increase an employee's salary by five to 10 percent. In the United States, the National Association of Mortgage Underwriters (NAMU) is the primary institution for mortgage underwriters seeking certification.[15] X Research source

NAMU offers two primary certification options: Certified Mortgage Underwriter (NAMU-CMU) - this certification option requires 12 hours of training. The candidate must then score an 85 percent or higher on a 30 question exam and successfully pass a criminal background check.[16] X Research source Certified Master Mortgage Underwriter (CMMU) - this certification option is considered an advanced degree and requires 24 hours of training. The candidate must stills core an 85 percent or higher on a 30 question exam and successfully pass a criminal background check.[17] X Research source Know what's expected. A career in mortgage underwriting will entail a lot of financial risk analysis. Most day-to-day tasks will involve reviewing applications and conducting an in-depth analysis of the proposed loan package. Common risks that will be predicted and assessed include: Interest rate risk — this involves the potential losses that may be suffered as a result of fluctuating interest rates. Default risk — this focuses on the risk of a potential borrower defaulting on his loans if he becomes incapable of paying off his debt. Pre-payment risk — this risk requires the underwriter to speculate

on the likelihood of the borrower paying off his loan before it matures. If this happens, the borrower effectively cuts out the lender's interest payments that would have otherwise accrued. Learn how to underwrite a mortgage. In order to analyze a potential borrower's loan request, a mortgage underwriter will be required to examine the borrower's credit reports and income history, which may require pay stubs and/or W-2 statements. The mortgage underwriter uses this information to calculate the borrower's debt-to-income ratio. The debt-to-income ratio is calculated by adding the borrower's monthly liabilities (mortgage payments) to his obligations (month-to-month credit and loan payments), and dividing that number by the borrower's net monthly income, factoring in any recurring financial obligations such as child support or alimony. Any additional assets, such as checking/savings accounts, retirement funds, mutual funds, and stocks, are also factored into the equation to determine whether or not the potential borrower would be a high default risk. Specialize your skills. Once you've entered the mortgage underwriter field, there is not very much room for advancement beyond becoming a

manager unless you've earned a master's degree in a related field.[18] X Research source For this reason, many mortgage underwriters choose to develop advanced skills in specialized lending systems. Common lending systems include Local Authorities Pension Plan (LAPP) loans, U.S. Department of Agriculture (USDA) loans, and Federal Housing Administration (FHA) loans.[19] X Research source These lending systems are highly specialized and require a unique knowledge of lending rules and regulations. Skills are usually developed through continuing education classes, which are offered on a regular basis by professional mortgage organizations like the National Association of Mortgage Brokers.[20] X Research source