Mortgage Underwriter

Navy Federal•Pensacola, FL

23h•Onsite

About The Position

Evaluates and underwrites all mortgage loan types offered by Navy Federal Credit Union (NFCU), applying state and federal requirements to limit risk exposure to NFCU’s mortgage portfolio. Analyzes documentation and information submitted with mortgage loan requests, conditions loans, and makes decisions about credit risk according to NFCU guidelines, secondary-market investor requirements, and applicable regulations. The work is semi-routine, follows established procedures, and is performed under supervision from higher-level peers and leadership, with limited instruction needed for new assignments. The role also participates in basic research and review.

Requirements

At least 3 years of experience in mortgage lending.
Intermediate knowledge of mortgage/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 determine 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 submitted documentation and applicable rules and regulations.
Determine the acceptability and marketability of real estate property and assess 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 for adverse action, with awareness of regulatory compliance provisions.
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 information and documentation are obtained.
Participate in mentoring sessions for Mortgage Processors, Mortgage Closers, and Mortgage Loan Officers.
Maintain current knowledge of NFCU mortgage products and changes to NFCU, investor, or government guidelines affecting mortgage-loan processing.
Collaborate with the training team to maintain accurate and consistent training materials covering guidelines.
Perform secondary reviews of loans that have been suspended or declined.
Perform other related duties as assigned.