[uhn-der-roht, uhn-der-roht]
simple past tense of underwrite.
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[uhn-der-rahyt, uhn-der-rahyt]
verb (used with object), underwrote, underwritten, underwriting.
to write under or at the foot of, especially under other written matter.
to sign one's name, as to a document.
to show agreement with or to support by or as if by signing one's name to, as a statement or decision.
to bind oneself to contribute a sum of money to (an undertaking): Wealthy music lovers underwrote the experimental concerts.
to guarantee the sale of (a security issue to be offered to the public for subscription).
to write one's name at the end of (a policy), thereby becoming liable in case of certain losses specified in the policy.
to insure.
to assume liability to the extent of (a specified sum) by way of insurance.
to select or rate (risks) for insurance.
verb (used without object), underwrote, underwritten, underwriting.
to underwrite something.
to carry on the business of an underwriter.

1400–50; late Middle English, translation of Latin subscrībere to write underneath, sign, subscribe

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
underwrite (ˈʊndəˌraɪt, ˌʌndəˈraɪt)
vb , -writes, -writing, -wrote, -written
1.  finance to undertake to purchase at an agreed price any unsold portion of (a public issue of shares, etc)
2.  to accept financial responsibility for (a commercial project or enterprise)
3.  insurance
 a.  to sign and issue (an insurance policy) thus accepting liability if specified losses occur
 b.  to insure (a property or risk)
 c.  to accept liability up to (a specified amount) in an insurance policy
4.  to write (words, a signature, etc) beneath (other written matter); subscribe
5.  to support or concur with (a decision, statement, etc) by or as if by signature

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

c.1430, loan-translation of L. subscribere (see subscribe). Used literally at first; modern sense of "to accept the risk of insurance" (1622) is from notion of signing a marine insurance policy. Meaning "to support by a guarantee of money" is recorded from 1890.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
The loan correspondent must close the loan in its own name, or in the name of
  the sponsor that underwrote the loan.
The government thereby underwrote the costs of a national news network without
  regulating its content.
Subscribers became used to paying too little, because advertising revenues
  underwrote circulation costs.
We are not trying to bail out lenders who underwrote mortgages that should not
  have been made.
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