Mortgage Underwriter

Mortgage Loan UnderwriterTo evaluate and underwrite all mortgage loan types offered by Navy Federal Credit Union (NFCU) according to specific state and federal requirements to limit the risk exposure to NFCU's mortgage portfolio. To analyze required loan documentation and information presented in the mortgage loan request, to condition and make appropriate loan decisions based on the acceptability of the credit risk using established guidelines of NFCU, secondary market investors, and applicable state and government regulations. Works on assignments that are semi-routine in nature; recognizes the need for occasional deviation from accepted practice. Follows established procedures, requires limited instructions on new assignments. Works under supervision from higher level peers and leadership. Participate in basic research/review.ResponsibilitiesAnalyze mortgage loan information on loan documents such as income, assets, and credit criteria to confirm loan eligibility based on Navy Federal guidelines as well as adherence to investor requirement with or without independent scoring systemsAnalyze exceptions and rejections; recommend alternative mortgage products that could bring the loan within guidelines.Analyze self-employed borrower income documentationApprove mortgage loans and authorize loan disbursements based on a complete analysis of submitted documentation and/or applicable rules and regulationsDetermine the acceptability and marketability of the real estate property to analyze if there insufficient collateral to secure the loanPrepare 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 agenciesReview/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 and required documentation is obtainedParticipate in mentoring sessions for Mortgage Processors, Mortgage Closers, and Mortgage Loan OfficersMaintain 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 productsParticipates in collaboration with training team to maintain training materials to ensure all guidelines are conveyed accurately and consistentlyPerform secondary review of dispositioned loans that are suspended and/or declinedPerform other related duties as assignedQualifications3 years of experience in mortgage lendingIntermediate knowledge of mortgage/equity loan processing, closing and documentation requirements and regulationsFamiliarity with underwriting process and understanding of applicable criteria, guidelines, rules and regulationsBasic database and presentation software skillsBasic organizational, planning and time management skillsBasic research, analytical, and problem solving skillsBasic skill conducting complex personal and business financial analysisBasic skill exercising initiative and using good judgement to make sound decisionsBasic verbal and written communication skillsBasic word processing and spreadsheet software skillsDesired QualificationsBasic skill in underwriting self-employed borrowersBasic skill conducting complex personal and business financial analysisAdditional InformationHours: Monday - Friday, 8:00AM - 4:30PMLocation: 5550 Heritage Oaks Drive Pensacola, FL 32526141 Security Drive Winchester, VA 2260211270 St Johns Industrial Parkway South Jacksonville, FL 32246295 Bendix Rd Suite 250 Virginia Beach, VA 234524 Concourse Pkwy, Suite 100 Sandy Springs, GA 30328