For Mortgage Underwriters ·
What you'll accomplish
Re-explaining your lender's context at the start of every ChatGPT session wastes time you don't have. This guide configures ChatGPT with your loan types, guideline sources, common file types, and preferred writing style once, so every session produces consistent, relevant outputs from the start.
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]"