Banking Loan Underwriter Mortgage Salary in Chicago, Illinois

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Average Salary for Banking Loan Underwriter Mortgage in Chicago, Illinois

The average salary of a(n) Banking Loan Underwriter Mortgage in Chicago, Illinois is $76,277.

The average hourly rate of a(n) Banking Loan Underwriter Mortgage in Chicago, Illinois is $36.67.

The average bonus of a(n) Banking Loan Underwriter Mortgage in Chicago, Illinois is $2,876.00.

Job Description:

Gives approval or denial for mortgage loans, following mortgage standards. Checks and examines information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards. Assesses acceptability of loan to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors. Accepts or rejects loan application, or requests additional information. Records loan rejection specifying investor and institution guidelines and basis for declining application, such as insufficient cash reserves. Assembles documents in loan file, including acceptance or denial, and returns file to originating mortgage loan office. May be authorized by Federal agency to certify that mortgage loan applicant and property qualify for mortgage insurance endorsement from federal government. Less

Gives approval or denial for mortgage loans, following mortgage standards. Checks and examines information on mortgage loan documents to determine if buyer, property, and loan conditions meet establishment and government standards. Assesses acceptability of loan to corporations that buy real... More

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Prepare loan presentations for use in decision making by loan officers and requisite approval authorities. Assist in loan closing process, including preparation...

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