What makes a good GSE underwriting analyst?
I've been in my role for about 6 months now and I want to be sure I am doing all the right things at this point. What do you underwriters/managers out there expect out of your underwriting analyst for a first year analyst 6 months in? Fellow underwriting analysts, where are you at this point? For myself, as an SBL underwriting analyst, I know the entire underwriting process for both Freddie and Fannie pretty well at this point. I'm able to effectively review credit reports, financial statements, third party reports, and various due diligence collected during the UW process. Where I fall short is sizing on the deal and working in the workbooks, outside of just data entry stuff (T12, historicals, property comps etc). I just have not done much of the analytical sizing yet at all. Basically I do the data entry stuff that gets used on the sizing, but have not done any actual final sizing. Is this normal? Thanks in advance
This early on, some will be in positions that are sizing, some won't. They're probably phasing you into the role. I would be as involved as possible when reviewing and building the file. Data entry is a bit mundane but you can learn a lot while doing it. Keep an eye out for trends or anomalies. Even if you aren't doing the actual sizing, you should be get to the point where you know how to based on all the information you're reviewing. If they aren't directly teaching you this, definitely ask questions, but you can also size files on your own before handing them off to the underwriter and comparing afterwards.
On the production side, I compare my file to the appraiser's and underwriter's so I know how they're looking at deals. As an analyst, you should be doing the same with the underwriters you work with
Thanks, yeah, I think that's what I mainly need to be doing. I've been focusing a lot on how to just be a good "analyst" and getting those duties down but should probably be reviewing my UW's workbooks more often to see how they're sizing everything. Especially since we've been WFH.
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