Updated almost 3 years ago on . Most recent reply
Becoming an underwriter
Hey all, first of all this isn't specifically real estate related, but instead mortgage related. I'm looking to get into the mortgage underwriting as a career. I have no previous experience in the field but want to start educating myself on the practices and software associated with underwriting. Any underwriters here that have some good resources or suggestions on how to best get in to the industry? Also, what are the certifications I should start studying for? I've begun learning about the NMLS exam as a start.
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I am not an underwriter but I am a Florida State MLO. I can talk about the NMLS exam. Not sure where you will take your course but do not listen to the online negative about the exam. You will hear it is hard. Most people fail it the first time. I was scared when I was reading it all online, but I passed it the first time I took it. It was a lot easier than I thought maybe because I studied extra hard. First you should become a MLO/LO before jumping into underwriting so you know the experience the MLO or LO goes through. Reason I say MLO or LO because based on where you want to work you either have to take the exam or do not have to take the exam. If you want to do mortgage wholesaling you have to become MLO take the exam, and if you want to do retail mortgage (Banks) you do not have to take the exam (most of the time you have to go through their training). Let me know if you need some guidance to becoming an MLO. What is great about becoming an MLO is that you only have to take the exam one time and you can be licensed in any state you would like.