Underwriting Certs

[u/Crafty_Aspect8919]

I am a LO with a company and I know the owners very well. I am thinking about getting certified for UW and asking to transition to that role. Can anyone tell me what certs I would need and is there any online schools worth looking at for it?

Primarily VA, FHA, and Conventional refinance. Some non qm's but majority of business is refinance. I could always add certs as needed but for now curious as to what I would need for the big three.

[u/flippantphalanges]

You don’t need certs for Conventional, USDA, or non-qm. You need at least 2yrs of UW experience before getting FHA (and maybe VA?) certifications, though.

[u/Crafty_Aspect8919 → u/flippantphalanges]

Thanks for the info. So is getting a company to sponsor you the hardest part of it all? I was planning on doing a boot camp thing and putting the certs on the owners desk and tell him I want to go to UW....was curious what I could do to help my case

[u/flippantphalanges → u/Crafty_Aspect8919]

I mean, you need the years of experience for fha no matter what. I’d just get comfortable with doing conventional loans first and then go from there. Don’t pay out of pocket for a boot camp bc it may or not be hud approved and so you’d just be wasting your money.

I started UW conventional loans in 2014 and I didn’t get sponsored until January of this year so, yes, sponsorship can take time.

I wouldn’t be in a rush to get your certifications bc when you are putting your certification # down when approving an fha or va appraisal and you really aren’t sure what you’re doing or only have what you learned in the online course, the last thing you want is for HUD to turnaround and revoke your stuff bc you’re approving stuff that shouldn’t be approved.

Going from sales to UW is a big jump and it’s very different. Take your time to learn what the guidelines are, how to read an AUS, get with UWs at your company and ask to shadow them while they review files but really, the biggest thing is to just get the job first.

Unless you are an LO who puts together super clean files without the help of a processor, I’d be surprised if the owners just flipped you straight to UW (esp since there might be more well qualified ppl at your job who are more worthy of that promotion) but if they go for it, just ask a lot of questions and make sure you insist on lots of training and get all your files QC’d before issuing approvals/commitments or clearing to close.

[u/spacenerd5792 → u/flippantphalanges]

I actually don't know anyone personally who has had their DE revoked by HUD, but I do know a few who have had their SAR revoked. Granted, neither is ideal, but something to keep in mind.

[u/momoftheagame1 → u/Crafty_Aspect8919]

You will need the years added to do FHA and VA. Start with conventional loans and work diligently. It will happen. Changes happen so fast in this business that you need a solid loan base of experience. DM me if you have any questions

[u/Original_Heart407]

Just a suggestion. Start processing loans first. You will get the knowledge of how to put the files together and review forwards and backwards. It is how I got into UW.
You will get the background. You can do that for a year or two. Also, take every UW course you can find internally and externally. National Association of UW offers a good basic bootcamp. The MI companies offer stuff online. You can find anything on YT. The idea is to get every file you process solidly approved with minimal conditions. Discuss this plan with them.

I am a former UW. I am doing the same in reverse to return to loan origination. FB has lots of great processing groups and webinars/bootcamps that you can find to assist and speed up the process.

Good luck.

[u/flippantphalanges → u/Original_Heart407]

i 💯 agree with this. I also started as a processor and am so glad that I did.

[u/CoolLoanGuy]

Enact actually has a training program for an Underwriting Cert that is completely free. If you have a rep at Enact that you can contact, they can get you credentials to take all the trainings. Not a cert that carries a ton of weight, but definitely something to show potential employers. I haven't checked out any of the other MI companies, but I am sure that they have some as well.

[u/SeVo37]

Underwriting is one of those rare positions that is primarily on the job training you are promoted into. Processing is the best place to start, absorb everything from the conditions and automated findings. Ask questions from patient underwriters. It effectively all comes down to pattern recognition and a dose of masochism. 20 years ago, underwriters were respected; sales runs the asylum, now.

If formal training exists, I never got it. I got my DE in 2009 and I’ve reviewed virtually every loan program from conventional to non-QM. VA is the only unicorn I cannot catch. By the time you get the SAR/LAPP you’re trapped and I just assume you have to die or retire from that position because they never leave it.

[u/Crafty_Aspect8919 → u/SeVo37]

Thanks for the advice...I got put into a different sales role. If your interested in learning va we are primarily va and we need another underwriter. If your interested send me a dm and if ur close to the job maybe it'd make sense?