Mortgage Underwriter
About the role
Evaluate and underwrite all mortgage loan types offered by Navy Federal Credit Union (NFCU) according to specific state and federal requirements to limit risk exposure to NFCU's mortgage portfolio. Analyze required loan documentation and information presented in mortgage loan requests, condition and make appropriate loan decisions based on the acceptability of credit risk using established guidelines of NFCU, secondary market investors, and applicable regulations. Works on semi-routine assignments, recognizing the need for occasional deviation from accepted practice. Follows established procedures with limited instructions on new assignments. Works under supervision from higher-level peers and leadership.
Responsibilities
- Analyze mortgage loan information (income, assets, credit criteria) to confirm loan eligibility based on Navy Federal guidelines and investor requirements, with or without independent scoring systems.
- Analyze exceptions and rejections; recommend alternative mortgage products to bring loans within guidelines.
- Analyze self-employed borrower income documentation.
- Approve mortgage loans and authorize loan disbursements based on a complete analysis of submitted documentation and applicable rules and regulations.
- Determine acceptability and marketability of real estate property to analyze collateral sufficiency.
- Prepare and present alternative options on marginal loans; analyze exception requests, prepare adverse action (loan disapproval) notifications, or conduct secondary loan reviews for adverse action with compliance awareness.
- Review and understand effects of real estate contracts, such as age restrictions, HOAs, etc.
- Collaborate with loan originators and processors to ensure all appropriate data and required documentation is obtained.
- Participate in mentoring sessions for Mortgage Processors, Mortgage Closers, and Mortgage Loan Officers.
- Maintain current knowledge of all NFCU mortgage products and guideline changes from NFCU, investors, or government agencies.
- Collaborate with the training team to maintain accurate and consistent training materials.
- Perform secondary review of dispositioned loans that are suspended and/or declined.
- Perform other related duties as assigned.
Requirements
- 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 understanding of 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 in conducting complex personal and business financial analysis.
- Basic skill in exercising initiative and using good judgment to make sound decisions.
- Basic verbal and written communication skills.
- Basic word processing and spreadsheet software skills.
Desired Qualifications
- Basic skill in underwriting self-employed borrowers.
- Basic skill in conducting complex personal and business financial analysis.
Schedule
Monday - Friday, 8:00 AM - 4:30 PM
Location
- 5550 Heritage Oaks Drive, Pensacola, FL 32526
- 141 Security Drive, Winchester, VA 22602
- 9999 Willow Creek Road, San Diego, CA 92131
- 11270 St Johns Industrial Parkway South, Jacksonville, FL 32246
- 9001 Airport Freeway, 9th Floor Suite 925, North Richland Hills, TX 76180
- 295 Bendix Rd Suite 250, Virginia Beach, VA 23452
- 4 Concourse Pkwy, Suite 100, Sandy Springs, GA 30328
About Us
Navy Federal provides a meaningful career experience with a culture that is energized, engaged, and committed. Teams are rewarded with highly competitive pay and generous benefits and perks. Navy Federal has been recognized as a FORTUNE 100 Best Company to Work For®, among the Top 100 Internship Programs, Best Places to Work in IT, Most Loved Workplace, and more by organizations such as FORTUNE, Computerworld, PEOPLE, Newsweek, Military Times, Forbes, and Handshake.