What is an underwriter, what jobs do they perform?

Asked By: Princess Yoda - 5/31/2007
Best Answer - Chosen by Asker
I work in commercial lending, and part of my job is to underwrite loans (at my company they combine sales and underwriting roles; lenders do their own underwriting. At some banks the salespeople do sales and they have analysts to underwrite the loans... More
Answered By: lizzgeorge - 5/31/2007
Additional Answers (2)
Underwriters are the ones that actually issue the loans that you apply for. First, the loan processor or sales person sells the loan and prepares it for the underwriter. The underwriters make the decisions on whether to issue the loan, for how much and for what interest rate based on the application, financials, etc... More
Answered By: floridasun5 - 5/31/2007
Underwriters basically deal in statistics - they look at the risks an insurance company is taking by signing a contract with specific individuals. I.E. - how likely is someone to be a huge risk with an auto insurance account. There is more to it than that - but this gives you a general idea.
Answered By: BettyBoop - 5/31/2007
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