Mortgage Underwriter Law and Legal Definition

A mortgage underwriter is an insurance professional responsible for evaluating the risk of a mortgage application, from the financial institution perspective. S/he is responsible for determining the maximum amount of mortgage granted. The mortgage underwriter understands the mortgage loan qualification, approval, and pre-approval. S/he makes the decision if the borrower qualifies for the mortgage. If the mortgage application fails to meet the qualification level, s/he determines the best mortgage loan options for the borrower.