You can sum up the current mortgage market in four words: low rates, tight credit. These four words aren’t just accurate, but they also reflect the biggest challenge facing lenders today. Historically low rates have borrowers flocking to lenders in droves to refinance their loans. Yet the struggling job market has led to a tightening of credit, which means many borrowers aren’t getting the rates they hoped for, and some aren’t getting loans, either.
Underwriters are right in the thick of this conflict. As an underwriter myself, I’ve seen how the pandemic has quickly changed the lending landscape. Like many others in my position, I’ve had to stay on top of constant changes to underwriting and investor guidelines. But adapting to change seems to come easier for some than others. And for women underwriters in particular, this market has become the opportunity of a lifetime.
Why More Women Are Becoming Underwriters
After more than 35 years in the mortgage industry, I’ve learned that it takes the right person with a lot of patience to navigate the ever-changing credit landscape in underwriting. Underwriters must be able to multi-task, be naturally inquisitive, level-headed, and open minded. For these reasons and others, I believe women are particularly well-suited to work as underwriters. And the number of women working as underwriters is soaring.
