For Mortgage Underwriters ·
What you'll accomplish
By the end of this guide, you'll have ChatGPT configured with your lender's specific context — loan types, guideline sources, common file types, and preferred writing style — so every session produces consistent, relevant outputs without re-explaining your work environment each time.
What you'll need
What you should see: Your sidebar now shows "ChatGPT Plus" or a similar indicator.
In the first field, enter this template customized for your role:
I am a mortgage underwriter at [Lender Name — or: a mid-size IMB / bank / credit union]. I underwrite [residential/conventional/FHA/VA/jumbo] loans averaging [X] files per day.
Loan types I underwrite most: [e.g., conventional conforming, FHA, VA, DSCR investment]
Primary guideline sources: Fannie Mae Selling Guide, Freddie Mac Single-Family Guide, FHA Handbook 4000.1, VA Lenders Handbook
AUS systems I use: Desktop Underwriter (DU), Loan Product Advisor (LP)
LOS: [Encompass / Byte / other]
Common borrower types: [W-2 salaried, self-employed Schedule C, self-employed S-corp, retired on Social Security, etc.]
Tasks I need help with most:
- Drafting adverse action and declination notices (ECOA/FCRA compliant)
- Writing exception request narratives with compensating factors
- Drafting condition letters for processors
- Explaining complex income calculations in plain English for LOs
- Writing loan file credit notes for QC documentation
- Summarizing agency guideline bulletins
- Creating training materials for processors
In the second field:
For all underwriting documents:
- Adverse action notices: formal, ECOA/FCRA compliant language, specific adverse reason codes
- Exception request narratives: structured format (exception → guideline → compensating factors → recommendation), persuasive, professional
- Condition letters: clear and instructional — processor should understand exactly what is needed and why
- Loan file notes: concise, objective, QC-ready format
- LO emails: professional but accessible, avoid jargon, educational tone
Never include specific borrower PHI (names, SSNs, dates of birth) in outputs. I will fill in specific details manually.
When writing about guidelines, cite the specific guideline source (Fannie Mae, FHA, etc.) when relevant but note that I will verify citations before using them.
Default response length: medium — enough detail to be useful, not so long it needs extensive editing.
What you should see: A complete, formatted adverse action notice that reflects your lender type and includes appropriate regulatory language — without you explaining any context.
Adverse action notice: "Draft ECOA/FCRA adverse action notice. Denial reasons: [list]. Loan type: [type]. Leave blanks for borrower details."
Exception narrative: "Write exception request narrative. Exception: [guideline variance]. Compensating factors: [list all]. Recommend [approval/denial]."
Condition letter: "Write condition letter requesting [document]. Explain what it must show, acceptable format, and why needed."
Income explanation: "Plain-English explanation for LO: why qualifying income is [amount]/month despite [stated income situation]. Adjustments: [list]."
Guideline summary: "Summarize this agency bulletin. Key changes, effective dates, action items: [paste bulletin text]"