Mortgage Underwriter Ii/Iii

Navy Federal Credit Union Pensacola , FL 32501

Posted 1 month ago

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Job Description

YOUR LIFE'S MISSION: POSSIBLE

You have goals, dreams, hobbies and things you're passionate about.

What's Important to You Is Important to Us

We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen.

Don't take our word for it.

  • FORTUNE 100 Best Companies to Work For

  • Computerworld Best Places to Work in IT

  • FORTUNE Best Workplaces for Millennials

  • Forbes America's Best Employers

Basic Purpose

To evaluate and underwrite conventional and home equity loan applications, as well as FHA and VA loans, Jumbo and self-employed mortgage loans nation-wide according to specific state and federal requirements limiting the risk exposure to Navy Federal's mortgage portfolio. To collect and organize required loan and property documentation to make appropriate decisions on the acceptability of the investment risk using established guidelines of NFCU, secondary market investors, and applicable state and government regulations.

Responsibilities

Mortgage Underwriter II

  • Analyze income, assets, and credit criteria to confirm loan eligibility as well as adherence to investor requirement with or without independent scoring systems

  • Analyze exceptions and rejections; recommend alternative mortgage products better suited to the loan applicant

  • Approve mortgage loans and authorize loan disbursements based on a complete analysis of submitted documentation and/or applicable rules and regulations

  • Review and evaluate documents to ensure adherence to Navy Federal, NCUA, USPAP and all other relevant industry guidelines to ensure loan acceptance

  • Determine the acceptability and marketability of the real estate property to ensure there is sufficient collateral to secure the loan

  • Prepare and present alternative options on marginal loans; analyze exception requests, prepare adverse action (loan disapproval) notifications or secondary loan reviews for adverse action, with awareness of compliance provisions of regulatory agencies

  • Review/understand effects of contracts related to real estate, such as age restrictions, HOAs, etc.

  • Work closely and collaborate with loan originator and processor to ensure all appropriate data is obtained

  • Collaborate with Mortgage leadership and conduct or participate in mentoring sessions for Mortgage Processors, Mortgage Closers, and Mortgage Loan Officers

  • Maintain current knowledge of all NFCU mortgage products and any changes to guidelines by NFCU, investor, or government agencies that impact the processing of mortgage loan products

  • Collaborate with training team to maintain training materials to ensure all guidelines are conveyed accurately and consistently

  • Perform secondary review of dispositioned loans that are suspended and/or declined

  • Perform other related duties as assigned

Mortgage Underwriter III

  • Analyze credit and credit reports independent of scoring systems to confirm loan eligibility

  • Analyze exceptions and rejections; recommend alternative mortgage products better suited to the loan applicant

  • Approve mortgage loans and authorize loan disbursements based on a complete analysis of submitted documentation and applicable rules and regulations

  • Collaborate with managers and participate in mentoring sessions for Mortgage Processors, Mortgage Closers and Mortgage Loan Officers

  • Collaborate with training team to maintain the on-line manual to ensure all guidelines are conveyed accurately and consistently

  • Determine the acceptability and marketability of the real estate property to ensure there is sufficient collateral to secure the loan

  • Evaluate assets needed to close the loan and determine the acceptability and adherence to investor requirements

  • Perform secondary review of loans that are suspended and/or declined

  • Prepare and present counter-offers on marginal loans; prepare adverse action (loan disapproval) notifications, with awareness of the compliance provisions of the regulatory agencies

  • Review and evaluate documents to ensure adherence to Navy Federal, NCUA, USPAP and all other relevant industry guidelines to ensure loan acceptance

  • Review/understand effects of contracts related to real estate, such as age restrictions, HOAs, etc.

  • Willingness to obtain VA SAR within 24 months of successful employment or promotion to level III

  • Work closely and collaboratively with loan originator and processor to ensure all appropriate data is obtained

  • Perform other related duties as assigned

Qualifications and Education Requirements

  • Significant experience in mortgage underwriting

  • Advanced knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations

  • Advanced knowledge of underwriting process and understanding of applicable criteria, guidelines, rules and regulations

  • Working knowledge of tax return and balance sheet analysis

  • Effective database and presentation software skills

  • Effective organizational, planning and time management skills

  • Effective research, analytical, and problem solving skills

  • Effective skill conducting complex business financial analysis

  • Effective skill exercising initiative and using good judgment to make sound decisions

  • Effective skill making effective presentations to groups of various sizes

  • Effective verbal and written communication skills

  • Effective word processing and spreadsheet software skills

Hours: Monday - Friday, 8:00AM - 4:30PM or 10:30AM - 7:00PM

Location: 5550 Heritage Oaks Drive, Pensacola, Florida 32526

Equal Employment Opportunity

Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability

Disclaimer

Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position.

Bank Secrecy Act

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

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Mortgage Underwriter Ii/Iii

Navy Federal Credit Union