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Collateral Underwriter Jobs in Michigan (NOW HIRING)

Bank of Ann Arbor

Credit Manager

Ann Arbor, MI · On-site

... underwriting and portfolio management. * Strong experience analyzing complex financials, global cash flow, collateral structures, and guarantor support. * Solid understanding of commercial lending ...

Bank of Ann Arbor

Credit Manager

Ann Arbor, MI

... underwriting and portfolio management. * Strong experience analyzing complex financials, global cash flow, collateral structures, and guarantor support. * Solid understanding of commercial lending ...

Bank of Ann Arbor

Credit Manager

Ann Arbor, MI · On-site

... underwriting and portfolio management. * Strong experience analyzing complex financials, global cash flow, collateral structures, and guarantor support. * Solid understanding of commercial lending ...

Bank of Ann Arbor

Credit Manager

Ann Arbor, MI · On-site

... underwriting and portfolio management. * Strong experience analyzing complex financials, global cash flow, collateral structures, and guarantor support. * Solid understanding of commercial lending ...

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Showing results 21-40

All JobsCollateral Underwriter JobsCollateral Underwriter Jobs in Michigan

Collateral Underwriter information

See Michigan salary details

$28.3K

$68.8K

$121.6K

How much do collateral underwriter jobs pay per year?

As of Sep 2, 2026, the average yearly pay for collateral underwriter in Michigan is $68,750.00, according to ZipRecruiter salary data. Most workers in this role earn between $53,200.00 and $75,800.00 per year, depending on experience, location, and employer.

What is a collateral underwriter?

A Collateral Underwriter is responsible for evaluating the value and risk associated with real estate used as loan collateral. They analyze appraisal reports, market trends, and regulatory guidelines to ensure accuracy and compliance. Their role helps lenders mitigate risks by determining whether a property's valuation supports the loan amount. Strong analytical skills and knowledge of underwriting guidelines are essential for this position.

What skills and qualifications are needed to be a collateral underwriter?

To thrive as a Collateral Underwriter, a solid background in real estate valuation, risk analysis, and loan underwriting—often supported by a bachelor’s degree in finance, business, or a related field—is essential. Familiarity with industry-standard appraisal software, loan origination systems (LOS), and knowledge of regulatory guidelines like USPAP and FNMA/FHLMC standards are typically required. Strong analytical thinking, attention to detail, and effective written and verbal communication skills help set top performers apart. These skills ensure accurate collateral evaluation, sound risk mitigation, and smooth collaboration with loan officers, appraisers, and compliance teams.

What challenges do collateral underwriters face and how are they addressed?

Collateral Underwriters often encounter challenges such as complex property valuations, incomplete or inconsistent documentation, and tight deadlines for loan approvals. Addressing these issues typically involves close collaboration with appraisers, borrowers, and internal teams to gather accurate data and ensure thorough due diligence. Utilizing up-to-date technology and maintaining a strong understanding of market conditions and regulatory changes can help underwriters make informed decisions. Developing excellent organizational and communication skills also aids in managing workflow and resolving issues efficiently. Being proactive and adaptable is key to overcoming day-to-day hurdles in this important risk management role.

Is it hard to become a collateral underwriter?

Becoming a collateral underwriter typically requires a bachelor's degree in finance, real estate, or a related field, along with strong analytical skills and knowledge of loan and collateral evaluation. Gaining experience through internships or entry-level positions in lending or underwriting can also be helpful; certifications like the Certified Commercial Investment Member (CCIM) may enhance prospects. The role involves detailed analysis and attention to detail, but the difficulty varies based on individual background and training.

What are the most commonly searched types of Collateral Underwriter jobs in Michigan?

The most popular types of Collateral Underwriter jobs in Michigan are:

What are popular job titles related to Collateral Underwriter jobs in Michigan?

For Collateral Underwriter jobs in Michigan, the most frequently searched job titles are:

What job categories do people searching Collateral Underwriter jobs in Michigan look for?

The top searched job categories for Collateral Underwriter jobs in Michigan are:

What cities in Michigan are hiring for Collateral Underwriter jobs?

Cities in Michigan with the most Collateral Underwriter job openings:

Collateral Underwriter jobs near you
Infographic showing various Collateral Underwriter job openings in Michigan as of August 2026, with employment types broken down into 88% Full Time, 8% Part Time, 3% Contract, and 1% Nights. Highlights an 82% Physical, 5% Hybrid, and 13% Remote job distribution, with an average salary of $68,750 per year, or $33.1 per hour.

Senior Mortgage Quality Control Underwriter

Lake Michigan Credit Union

Grand Rapids, MI • On-site

$111K/yr

Full-time

Medical, Dental, Vision, Retirement

Posted 22 days ago

Lake Michigan Credit Union rating

8.0

Company rating: 8.0 out of 10

Based on 28 frontline employees who took The Breakroom Quiz

Job description

General Information
Primary Location: Grand Rapids, MI (4027 Lake Dr.)
Employee Status: Full-Time
Workplace Type: Hybrid | Following training, this role offers 2 remote days per week
Who we are:
At LMCU, you'll find more than just a job - discover a fulfilling career where your contributions truly matter. Join our talented team at Lake Michigan Credit Union and discover the difference an employer who puts people first can make in your career and life.
About this position:
The Senior Mortgage Quality Control Underwriter reviews mortgage loan files to ensure compliance with agency regulations and company policies, identifies errors, fraud risks, and documentation gaps. Key responsibilities include auditing prefunding and post-closing files, analyzing more complex income, asset and collateral documentation, and calculating risk factors. Essential skills include extensive underwriting experience, strong attention to detail, strong analytical and communication skills, familiarity with mortgage products and regulatory requirements.
What you'll do:
  • Conduct thorough prefunding and post-closing audits of mortgage loan files to identify discrepancies, errors, and potential fraud.
  • Review credit reports, income documents, appraisals, title reports, and other supporting documentation for accuracy and completeness.
  • Evaluate creditworthiness, income stability, loan-to-value (LTV), and debt-to-income (DTI) ratios to determine the loan's risk level.
  • Ensure loan files adhere to investor guidelines, federal and state regulations, and internal company policies, with emphasis on more complex loans.
  • Escalate files showing evidence of fraud or misrepresentation to management. Detect patterns or red flags during reviews to proactively mitigate risk.
  • Document audit findings accurately and assist in identifying quality trends. Recommend corrective actions to management and underwriting teams to address recurring issues and strengthen loan quality.
  • Assist in developing and implementing quality control audit plans and procedures. Contribute to ongoing efforts to enhance quality and efficiency within loan operations.
  • Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence
  • Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

What you'll bring:
  • A two-year college degree or completion of a specialized course of study at a business or trade school equivalent to approximately 64 credit hours.
  • Three to five years of direct mortgage experience is required.
  • Three years of mortgage underwriting experience is required.
  • Experience in FHA is required.
  • Experience in VA and USDA loans is preferred.
  • Experience using Fannie Mae, Freddie Mac and FHA applications and technology.
  • Experience using Microsoft Word and Excel applications.
  • Experience using software such as Empower, BlackKnight, ACES, Loan Beam, AllRegs, and DataVerify a plus.
  • Should be comfortable with knowing how and where to search for investor/agency guidelines and compliance regulations.

What you'll get:
  • All Employees: weekly pay and retirement savings options.
  • Full Time Employees: comprehensive health coverage including medical (with prescription), dental, vision, HSA match, paid parental leave, and tuition reimbursement.
  • To see a full list of our benefit offerings, check out this helpful guide!

Have additional questions about the role? Email the Talent Acquisition Team at: Careers@lmcu.org
If you lack access to the internet or require an accommodation in the application process, please send your resume via mail to P.O. Box 2848, Grand Rapids, MI 49501-2848.
LMCU is an Equal Opportunity Employer

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