Mortgage Underwriter / Senior Mortgage Underwriter (Remote)

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Posted 4 days ago United States Salary undisclosed
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Job Description

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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

Mortgage Underwriter

To 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.

Responsibilities:

* Analyze 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 systems Basic research/Review
* Analyze exceptions and rejections; recommend alternative mortgage products that could bring the loan within guidelines. Basic research/review
* Analyze self-employed borrower income documentation 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
* Determine the acceptability and marketability of the real estate property to analyze if 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 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 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 and Education Requirements:

* Exposure to mortgage underwriting
* Intermediate 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
* Desired - Basic skill in underwriting self-employed borrowers
* Desired - Basic skill conducting complex personal and business financial analysis

Senior Mortgage Underwriter

To 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 requiring judgment in resolving issues or making recommendations. Identifies key issues and patterns. Takes a broad perspective to solve problems. Works under minimal supervision.

Responsibilities:

* Analyze 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 systems
* Analyze exceptions and rejections; recommend alternative mortgage products that could bring the loan 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 the acceptability and marketability of the real estate property to ensure there is sufficient collateral to secure the loan
* 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/understand effects of contracts related to real estate, such as age restrictions, HOAs, etc.
* Work closely and collaboratively with loan originator and processor 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 any changes to guidelines by NFCU, investor, or government agencies that impact the processing of mortgage loan products
* Collaborate with training team to maintain the on-line manual to ensure all guidelines are conveyed accurately and consistently Assist in leading
* Perform secondary review of loans that are suspended and/or declined Advanced analysis
* Perform other 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
* Desired - VA SAR

Desired Qualifications and Education Requirements:

* Minimum two years mortgage underwriting experience with varied types of mortgage products including Conventional and VA loans
* Mortgage insurance underwriting knowledge
* Proficiency in viewing the mortgage approval process holistically
* Experience with self-employed borrower analysis
* Experience working autonomously remote
* Proficiency in organizational abilities, time management, and independent task prioritization
* Exceptional quality control and decision making capabilities
* Exceptional communication capabilities across all channels
* Ability to work in a detailed fast-paced document-heavy environment
* Proficiency in industry technology in a paperless environment
* Capable of adjusting daily task prioritization as business needs and as information changes
* Internally driven towards learning with a problem solving accumen

Hours: Monday - Friday, 8:30am - 5:00pm (shifts may vary Based on business needs)

Location: Remote Work Capability in the Las Vegas area

Pay Scale: $26.00 - $38.00/hour

As a COVID-19 safety measure, our employees must either provide proof of COVID-19 vaccination or follow additional safety protocols, including testing.

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..... click apply for full job details