Underwriter
Someone, such as an employee of a lending institution or mortgage banking company, who reviews an application for a loan and makes a recommendation to a loan committee as to the desirability and risk of the institution making the loan. The underwriting process is an integral part of the lending process.

Underwriting
The determination of the risk a lender would assume if a particular mortgage loan application is approved. Ability and willingness to abide by the mortgage loan terms, as well as the value of the property involved, are critical to the underwriting analysis.

Unemployment Rate
The percentage of the labor force out of work. To be considered a member of the labor force, an individual must either be employed or actively looking for employment (so those without jobs who are not looking for work are not, technically, unemployed). Released by the Bureau of Labor Statistics on the first Friday of the month for the previous month.