Sr. Analyst, Mortgage QC Underwriting

About the role

The Sr. Analyst, Mortgage QC Underwriting at PenFed is responsible for conducting quality control reviews for first trust conventional, VA, FHA and equity real estate loans. This role involves evaluating the integrity and quality of the credit, compliance, and collateral aspects of the mortgage loan origination process.

Responsibilities

• Conduct reviews of first trust conventional, VA, FHA and equity mortgage loans to ensure proper underwriting and sound judgment in the underwriting process.
• Analyze loan files to assess member creditworthiness and collateral adequacy, and review legal and compliance documentation as needed.
• Evaluate the accuracy and integrity of loan documentation supporting the lending decision, ensuring compliance with PenFed’s policies and procedures, investor guidelines, and secondary market requirements.
• Determine accurate defect ratings based on investor’s loan eligibility requirements, analyze the entire credit package and collateral for residential mortgage loans, and ensure an investment-quality loan product.
• Follow up on previous deficiencies and examine corrected files.
• Collaborate with Mortgage Operations to clarify review results as needed.
• Interpret and reverify credit underwriting documentation in loan files, and conduct further research as necessary.
• Perform peer reviews and provide guidance to junior analysts as needed.
• Assist with process testing and participate in special projects.
• Maintain a working knowledge of internal policies, procedures, external regulations, secondary market underwriting guidelines, investor guidelines, and Fannie Mae, VA, Freddie Mac, FHA, and private mortgage insurance guidelines.
• Maintain current knowledge of relevant regulations and guidelines.

Qualifications

• Bachelor’s degree in business, accounting, finance, or another related field required.
• Minimum of three (3) years progressive experience in real estate lending with underwriting experience required, preferably in a bank or credit union environment.
• Advanced knowledge of real estate loans (origination, processing, closing, funding) required. Broad knowledge of consumer real estate lending, including first trust mortgage loans, home equity loans and lines of credit.
• Knowledge of lending compliance regulations and system definitions.
• Active or recent VA SAR and/or FHA DE underwriting authority preferred.
• Proficiency with Encompass is highly desirable.
• Experience using A.I. tools preferred.

Supervisory Responsibility

This position will not supervise employees.

Licenses and Certifications

No additional certifications required.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

Travel

The ability to travel to various worksites and be on-call may be required.

Pay Transparency

The anticipated starting hourly range for this role is $30.77 - $52.23.

Benefits

• Comprehensive health, dental, and vision plans.
• Paid time off.
• Family-friendly benefits such as paid parental leave, care support, and fitness center access.
• Financial wellness features like a 401(k) match, employee loan discounts, and fully paid life and disability coverage.
• Growth opportunities through education assistance, community involvement, and volunteer opportunities.

Our Purpose

Helping members achieve their dreams since 1935.

PenFed

PenFed is one of America's largest federal credit unions, serving 2.8 million members worldwide with $29 billion in assets. PenFed offers market-leading certificates, checking and savings, credit cards, personal loans, mortgages, auto loans, and a wide range of other financial services, always with members' interests in mind. PenFed is federally insured by the NCUA and is an Equal Housing Lender.

Berkshire Hathaway HomeServices PenFed Realty, LLC

Berkshire Hathaway HomeServices PenFed Realty, LLC is a full-service real estate company ready to assist our clients with buying, selling, and renting a home. The company is a wholly owned subsidiary of PenFed Credit Union and is the largest independently-owned brokerage in the Berkshire Hathaway HomeServices network, placing us in the top 1% of all real estate brokerages in the country. With almost 60 offices and nearly 2,000 world-class sales professionals, we offer complete service coverage in Virginia, Maryland, the District of Columbia, Delaware, Pennsylvania, West Virginia, Florida, Tennessee, Kansas, and Texas. In addition, we offer specialized client services which include management of vacation properties and long-term rentals, corporate relocation services, and national referral network.

Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.