Mortgage Underwriter Certification and Training

What Mortgage Underwriter Certifications Are Available?

There are five designations offered through the Mortgage Bankers Association (MBA). The lowest levels of certification contains the professional and achievement certificates. The specialist designation recognizes knowledge in four different areas. The professional and master designations recognize long standing, real estate professionals.

Source: U.S. Bureau of Labor Statistics 

What Training Programs Are Available?

Loan or mortgage underwriting programs are rare. Instead, training can often be found in a mortgage banking or real estate studies program that offers courses in the field. These programs typically take less than a year and can result in a certificate. You may also be able to find 4-year programs that result in an Associate of Applied Science. You can also find underwriting courses offered through distance education. These may be introduction courses that focus on guidelines, concepts, automated systems and processes.

How Do I Earn and Maintain Certification?

Every designation requires you to be an MBA-member or currently working for a company associated with the MBA. You will also need to earn a minimum of 150 CMB points by completing documented education, participation and experience. The master designation requires you to complete an additional 50 CMB points.

To qualify for the commercial and residential designation exams, you will need to have three years of experience in the field. The master designation will require you to have seven years of experience in the field and hold the lower level designations for at least two years. After 13 years and earning a senior management position, you may also qualify for the executive designation.

All levels of certification require you to take a written and oral exam. You will receive your exam outline after completing the CMB point requirements and finding a sponsor. Certification can be renewed every two years by completing five continuing education points.

What Courses Can I Expect?

Regardless of the level of education, your program might focus on the current real estate industry condition, loan processing and closing, banking, loan servicing and financing. Other than loan underwriting courses, your program may require you to complete courses in real estate principles, appraisal, management, salesmanship, ethics, economics, title insurance and fraud. If you are enrolled in an associate's degree program, you can also expect general education courses in mathematics, English composition, communications and speech.