Mortgage Underwriter II/III

Location: VA Winchester - Operations Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description

Employee Perks

Why You Will Love Being Part of the Navy Federal Team:

*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine IND123
*An employee-focused, diverse, and service-oriented workplace environment

Basic Purpose

To evaluate and underwrite conventional and home equity loan applications, as well as VA Loans, and Jumbo mortgage loans nation-wide according to specific state and federal requirements limiting the risk exposure to Navy Federal’s mortgage portfolio. To analyze 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

• 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 Basic research/review
• Approve mortgage loans and authorize loan disbursements based on a complete analysis of submitted documentation and/or applicable rules and regulations Basic research/review
• Review and evaluate documents to ensure adherence to Navy Federal, NCUA, USPAP and all other relevant industry guidelines to ensure loan acceptance Basic research/review
• 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 Participates In
• Perform secondary review of dispositioned loans that are suspended and/or declined Basic research/review
• Perform other related duties as assigned

Qualifications – Knowledge, Skills, and Abilities

Level II
• Exposure to mortgage underwriting
• Advanced knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations
• Familiarity with 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 conducting complex personal and business financial analysis
• Basic skill exercising initiative and using good judgement to make sound decisions
• Basic verbal and written communication skills
• Basic word processing and spreadsheet software skills

Level III
• 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

Desired

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

Hours: Monday-Friday, 8:00am-4:30pm

Location: 141 Security Dr. Winchester, VA 22602
 

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.


Bank Secrecy Act

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