make me a list of key perfomance indicators to assess a loan underwriters review

Application Review

Assess accuracy and completeness of loan applications reviewed

Evaluate adherence to underwriting policies and guidelines

Measure average time taken to review and process loan applications

Track the number of applications reviewed per day/week/month

Assess the accuracy of the customer’s credit score

Analyze the borrower’s employment history and sources of income

Evaluate the borrower’s assets and liabilities

Assess the borrower’s debt-to-income ratio

Review the borrower’s credit report for potential red flags

Verify the accuracy of the borrower’s income and assets

Investigate the borrower’s property appraisal

Analyze the borrower’s ability to repay the loan

Review the borrower’s bankruptcy and foreclosure history

Compare the borrower’s credit history to the loan requirements

Risk Analysis

Evaluate the quality of risk assessment conducted on loan applications

Measure the accuracy of loan-to-value (LTV) ratios calculated

Assess the effectiveness of credit risk analysis and mitigation strategies

Track the percentage of approved loans that later become delinquent or default

Review the overall credit quality of the portfolio

Evaluate the effectiveness of the underwriting process in identifying and mitigating credit risk

Review the loan portfolio for concentrations of risk

Examine the reasonableness of assumptions used in the underwriting process

Measure the accuracy of interest rate assumptions used in the underwriting process

Evaluate the ability of the borrower to meet the terms of the loan

Analyze the potential collateral value of the loan

Assess the borrower’s capacity to repay the loan

Monitor collateral coverage of the loan portfolio

Review the loan portfolio for potential fraud

Evaluate the ability of the underwriter to effectively assess and mitigate risk

Monitor the overall quality of the loan portfolio

Financial Analysis

Evaluate the accuracy and completeness of financial statement analysis

Measure the underwriter's ability to identify key financial ratios and assess their significance

Assess the consistency and accuracy of income verification and debt-to-income ratio calculations

Track the percentage of loans approved with accurate and reliable financial analysis

Evaluate the underwriter’s ability to interpret the borrower’s credit score and history

Examine the underwriter’s ability to assess the potential impact of economic and market conditions on the loan

Measure the accuracy of the underwriter’s projections of cash flow and liquidity

Analyze the underwriter’s assessment of available collateral and its impact on the loan

Assess the underwriter’s ability to use financial information to make an informed decision

Evaluate the ability of the underwriter to properly assess the borrower’s capacity to repay the loan

Track the percentage of loans approved with accurate and reliable financial analysis

Communication and Collaboration

Evaluate the underwriter's ability to effectively communicate with borrowers and other stakeholders

Assess the quality and clarity of loan approval or denial letters

Measure the underwriter's responsiveness to borrower inquiries and requests for information

Track customer satisfaction ratings related to communication and collaboration

Monitor the number of team meetings attended by the underwriter and their participation in those meetings

Measure the number of loan files reviewed by other team members

Assess the effectiveness of team collaboration on loan decisions

Track the timeliness of document preparation and submission

Evaluate the accuracy of loan documents and information provided

Measure the underwriter's ability to develop and maintain strong working relationships with relevant stakeholders

Compliance and Audit

Evaluate adherence to regulatory requirements and internal policies

Assess the accuracy and completeness of documentation and record-keeping

Measure the number of audit findings related to underwriting activities

Track the underwriter's completion of required compliance training and certifications

Review the accuracy of customer information and credit reports

Monitor the risk rating assigned to each loan application

Evaluate the underwriter's response to customer inquiries

Measure the turnaround time for loan decisions

Assess the accuracy of the data entered into the loan origination system

Track the number of loans that have been denied or approved

Check for discrepancies between the amount requested and the amount approved

Review the accuracy of the legal documents associated with the loan

Monitor the frequency of miscommunication between the underwriter and other departments

Measure the number of loans that require additional review

Decision-making and Accuracy

Assess the accuracy of underwriting decisions based on loan performance data

Measure the underwriter's ability to identify potential risks and mitigate them effectively

Evaluate the underwriter's consistency in making sound lending decisions

Track the percentage of loans approved that meet underwriting criteria and perform well

Monitor the time taken to complete the underwriting process

Assess the quality of the loan documents and the accuracy of all information

Analyze the accuracy of customer data and loan details

Evaluate the underwriter’s ability to make quick decisions

Measure the percentage of loans approved that meet all regulatory requirements

Assess the accuracy of the loan underwriting process compared to industry standards

Track customer feedback and complaints about the underwriting process

Monitor the rate of loan defaults

Assess the accuracy of loan pricing and interest rates

Continuous Improvement

Measure the underwriter's participation in professional development and training opportunities

Assess the underwriter's ability to adapt to changing market conditions and underwriting guidelines

Evaluate the underwriter's contribution to process improvement initiatives

Track the implementation and effectiveness of underwriting process enhancements

Monitor the underwriter's performance against established goals and objectives

Survey customer satisfaction ratings of loan underwriters

Analyze the underwriter's performance against peers

Assess the accuracy of the underwriter's decisions against industry standards

Review the underwriter's ability to identify and address potential risks