What are the responsibilities and job description for the Lead Mortgage Underwriter position at Navy Federal Credit Union?
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.
- Military Times 2022 Best for Vets Employers
- Yello and WayUp Top 100 Internship Programs
- Forbes® 2022 The Best Employers for New Grads
- Fortune Best Workplaces for Women
- Fortune 100 Best Companies to Work For®
- Fortune Best Place to Work for Financial and Insurance Services
- Computerworld® Best Places to Work in IT
- Ripplematch Campus Forward Award – Excellence in Early Career Hiring
Basic Purpose
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
- Develop, collaborate with managers and 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
- Perform secondary review of loans that are suspended and/or declined
- Review and evaluate documents to ensure adherence to Navy Federal, NCUA, USPAP and all other relevant industry guidelines to ensure loan acceptance
- Perform other related duties as assigned
Qualifications
- Six years experience in underwriting or equivalent related experience reviewing and analyzing loans
- Advanced knowledge of Real Estate Lending systems, policies, procedures, practices and/or actions
- Expert knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations
- Expert knowledge of tax return and balance sheet analysis
- Expert knowledge of underwriting process and understanding of applicable criteria, guidelines, rules and regulations
- Advanced database and presentation software skills
- Advanced organizational, planning and time management skills
- Advanced research, analytical, and problem solving skills
- Advanced skill conducting complex personal and business financial analysis
- Advanced skill making effective presentations to groups of various sizes
- Advanced verbal and written communication skills
- Advanced word processing and spreadsheet software skills
Desired
- VA SAR
- FHA DE
Hours: Monday - Friday, 8:00AM - 4:30PM
Location: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Dr. Winchester, VA 22602 | 9001 Airport Freeway, North Richland Hills, TX 76180
Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.
Salary Range: $31.00 - $48.50 hourly
Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.
Posting End Date: 05/12/23
Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume.
#LI-Hybrid
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.
Salary : $31 - $49