Jobs and Careers

Senior Mortgage Underwriter

CA, United States, United Statesfull_timeVerifiedPosted 16 May 2025

About the role

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.

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/or applicable rules and regulations
Determine the acceptability and marketability of the real estate property to analyze if there insufficient 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
Collaboration with training team to maintain training materials to ensure all guidelines are conveyed accurately and consistently
Perform secondary review of dispositioned loans that are suspended and/or declined
Perform other related duties as assigned

3 years of experience in mortgage lending
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 personal and business financial analysis
Effective skill exercising initiative and using good judgement to make sound decisions
Effective verbal and written communication skills
Effective word processing and spreadsheet software skills

Desired Qualification(s)

Effective skill in underwriting self-employed borrowers
Effective skill conducting complex personal and business financial analysis
Availability to work in PST
VA SAR

Hours: Monday - Friday, 8:00AM - 4:30PM PST

Locations: CA OR and WA

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.

Our approach to careers is simple yet powerful: Make our mission your passion.