How to Answer: Give an example where you have had to challenge loan documentation based on fraud detection processes you use.
Advice and answer examples written specifically for an Underwriter job interview.
37. Give an example where you have had to challenge loan documentation based on fraud detection processes you use.
Why the Interviewer Asks This Question
Identifying potential fraud is important to protect the lender from financial loss. The interviewer is looking to gauge your experience and skills in detecting loan fraud. They want to know how you approach situations where you suspect fraudulent activity in loan documentation. By giving an example of how you have challenged loan documentation based on fraud detection processes, you can demonstrate your ability to identify and prevent fraudulent activity.
Written by Krista Wenz on June 5th, 2023
Answer Example
"I recently had a case where I had to challenge loan documentation based on fraud detection processes. The borrower had provided a forged tax return that didn't match the information my team obtained through our verification process. We also noticed some discrepancies in their employment history. After further investigation, we discovered the borrower had falsified their income and employment in order to qualify for the loan. We immediately rejected the application and reported the fraud to the appropriate authorities. We must always be diligent in our underwriting processes to prevent fraud and protect our company from potential losses."
Written by Krista Wenz on June 5th, 2023