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How to become an underwriter

how to become an underwriter

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Choose one or more DE training schools. Choose a DE training school that provides the most DE instruction and classes.

Take as many DE-related courses as possible and obtain a certificate of completion from the training school for each course. Each course typically lasts about eight hours at the most. HUD does not mandate a certain number of courses or specific course requirements. Training schools are not accredited or related to HUD in any way. You want to acquire enough DE knowledge to pass each lender's own specific requirements for its DE underwriters, which can vary considerably.

Apply for a DE underwriting job with employers looking to hire DE underwriters. The employer must be a HUD-approved FHA lender that can do DE underwriting. Most mortgage brokerages do not qualify as an FHA lender that can do DE underwriting.

Pass the employer's specific requirements for its DE underwriters. You may need to present the DE training school's certificate

of completion as well as take the lender's internally created DE test, which tests knowledge of recently updated FHA requirements. There are no HUD-mandated requirements for testing job applicants. Each lender makes up its own tests and requirements.

Ask the employer for a nomination to HUD as a DE certified underwriter. Nomination requires the lender to certify to HUD that the employee is fully qualified to be a DE certified underwriter. There are no formal HUD requirements, training requirements or national testing requirements as to whether an individual is qualified for nomination. Each lender makes its own call. The employer-specific testing often makes the lender comfortable enough to certify to HUD that the new employee is qualified for nomination to DE underwriter status. The nomination process involves the employer logging into HUD's internal site and adding the employee personal information (name, Social Security number, address, phone number, etc.) to the DE underwriter list, which goes into effect as soon as the information is submitted to HUD.

Category: Insurance

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