Mortgage Underwriter

Navy Federal Credit Union•Pensacola, FL

2d•$26 - $39•Onsite

About The Position

The Mortgage Underwriter evaluates and underwrites all mortgage loan types offered by Navy Federal Credit Union according to applicable state and federal requirements, with the goal of limiting risk exposure to the mortgage portfolio. The role analyzes loan documentation and information, applies Navy Federal and investor guidelines and applicable regulations, and makes or conditions loan decisions based on the acceptability of credit risk. Assignments are semi-routine, with occasional deviations from accepted practice; established procedures are followed, new assignments require limited instruction, and work is performed under supervision from higher-level peers and leadership. The position also participates in basic research and review. The schedule is Monday through Friday, 8:00 a.m. to 4:30 p.m. The listed work locations are in Pensacola, Florida; Winchester, Virginia; Jacksonville, Florida; Virginia Beach, Virginia; and Sandy Springs, Georgia. Navy Federal describes its culture as energized, engaged, and committed and states that it offers competitive pay and generous benefits and perks. Compensation depends on experience, location, and market position; the posting refers candidates to the company benefits page for further details. The position must also adhere to Navy Federal policies and procedures and regulations related to the Bank Secrecy Act.

Requirements

Three years of experience in mortgage lending.
Intermediate knowledge of mortgage and equity loan processing, closing, documentation requirements, and regulations.
Familiarity with the underwriting process and applicable criteria, guidelines, rules, and regulations.
Basic database and presentation software skills.
Basic organizational, planning, and time-management skills.
Basic research, analytical, and problem-solving skills.
Basic skill conducting complex personal and business financial analysis.
Basic skill exercising initiative and good judgment to make sound decisions.
Basic verbal and written communication skills.
Basic word-processing and spreadsheet software skills.

Nice To Haves

Basic skill in underwriting self-employed borrowers.
Basic skill conducting complex personal and business financial analysis.

Responsibilities

Analyze mortgage loan documentation, including income, assets, and credit criteria, to confirm eligibility under Navy Federal guidelines and investor requirements, with or without independent scoring systems.
Analyze exceptions and rejections and recommend alternative mortgage products that may bring a loan within guidelines.
Analyze income documentation for self-employed borrowers.
Approve mortgage loans and authorize loan disbursements based on complete analysis of submitted documentation and applicable rules and regulations.
Assess the acceptability and marketability of real estate property and whether collateral is sufficient to secure a loan.
Prepare and present alternative options for marginal loans; analyze exception requests; prepare adverse-action notifications or secondary reviews of adverse actions while considering regulatory compliance requirements.
Review and understand the effects of real estate-related contracts, including age restrictions and homeowners associations.
Collaborate with loan originators and processors to ensure required data and documentation are obtained.
Participate in mentoring sessions for Mortgage Processors, Mortgage Closers, and Mortgage Loan Officers.
Maintain current knowledge of Navy Federal mortgage products and changes to Navy Federal, investor, and government guidelines affecting mortgage processing.
Collaborate with the training team to maintain accurate and consistent training materials conveying applicable guidelines.
Perform secondary reviews of loans that have been suspended or declined.
Perform other related duties as assigned.
Remain aware of and comply with Navy Federal policies and procedures and Bank Secrecy Act regulations.