Question

Which one of the following tasks is the responsibility of a staff underwriter as opposed to a line underwriter?

1) Evaluating the creditworthiness of loan applicants
2) Determining the terms and conditions of a loan
3) Reviewing loan applications for completeness and accuracy
4) Negotiating loan terms with borrowers

Answer 1

A staff underwriter is responsible for reviewing loan applications for completeness and accuracy. The correct option is: 3).

Step-by-step explanation:

A staff underwriter is responsible for reviewing loan applications for completeness and accuracy. They ensure that all necessary documentation is included and that information provided by the borrower is accurate. This involves checking all supporting documents, such as income statements and credit reports, to ensure that everything is in order.