Overview
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. Assist in leading tasks requiring moderate to advanced analysis.
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
Perform secondary review of loans that are suspended and/or declined
Perform other duties as assigned
Qualifications
3 years of experience in underwriting or equivalent related experience reviewing and analyzing loans
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 Qualification(s)
Hours: Monday - Friday, 8:00AM - 4:30PM
Location: 11270 Saint Johns Industrial Parkway South, Jacksonville, FL 32246
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
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- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Yello and WayUp Top 100 Internship Programs
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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 EOE/AA/M/F/Veteran/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: 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. 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. 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
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 21301
