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Old 10-13-2010, 10:08 AM
 
148 posts, read 477,604 times
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Does anyone know how to get into underwriting? I see job postings for underwriters, but most require at least two years experience. I don't have any experience in underwriting, but would like to get some. I just don't know where to start. I know underwriters get paid more than minimum wage, but I would be willing to train at a minimum wage salary just to learn and gain the experience. Any suggestions would be greatly appreciated.
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Old 10-13-2010, 12:31 PM
 
Location: midwest transplant
370 posts, read 605,325 times
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Originally Posted by mrsclmn View Post
Does anyone know how to get into underwriting? I see job postings for underwriters, but most require at least two years experience. I don't have any experience in underwriting, but would like to get some. I just don't know where to start. I know underwriters get paid more than minimum wage, but I would be willing to train at a minimum wage salary just to learn and gain the experience. Any suggestions would be greatly appreciated.

U/W is rough right now and there are so many displaced workers from when the market collapsed, you will have a very difficult time with no experience. In fact, it is close to impossible without some serious mortgage experience.

U/W's make between 30 and 40 dollars and hour, so it isn't just for anyone who wants to do it. Also, a lot of companies want a DE cert, which identifies you as someone with gov't U/W experience as most places offer a variety of loan products.

You MAY be able to get a jr. processing role w/o specific experience. (although you will have a hard time getting an interview) Generally, my experience has shown me that companies will hire new U/W's from the high performing processors they already have. A jr processor will probably make 12-15 an hour, an experienced processor will make between 18 and 20 with a bonus to bring salary into the mid 40's pretty easily.

It is a tough, tough demographic to break into, especially with so many experienced people in the pool right now. Good luck!
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