Underwriter- 2nd Trust Summary PenFed is hiring an Underwriter, 2nd Trust in Alexandria, VA. The primary purpose of this job is to underwrite conventional, correspondent, and VA loans in accordance with investor guidelines including the secondary market. The underwriter responds to audits and performs QC on mortgage files. Incumbents of this position acts as a mortgage loan originator (MLO) as defined in the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). Essential Functions Complete a thorough analysis of the loan file to determine member credit worthiness and collateral value. Request required legal and file documentation. Evaluate the geographic area, the type, ownership and occupancy of the residence and assures that proper adjustments to loan terms, rate or amount, if any, are made before accepting collateral. Underwrite to current Appendix Q/FNMA/PenFed guidelines. Assist with maintaining PenFed's compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations. Evaluates the entire credit package and collateral for residential mortgage loans and ultimately ensures an investment quality loan product and creditworthiness of the borrowers and acceptability of the collateral. Identifies potential quality loans to be held in portfolio if secondary market guidelines cannot be met. Determine that valid liens in the proper recording position can be obtained by analyzing title examination and public record reports. Ensure that corrective action is taken when factors that weaken PenFed's collateral position are identified. Maintains a working knowledge of secondary market underwriting guidelines and private investor and private mortgage insurance guidelines. Interpret policies and guidelines for loan processors and other PenFed employees requiring guidance. Follow up with processors when documentation is not accurate due to processor errors and/or actions. Provide feedback to managers on processors' performance. Participate in the development of policy changes, program implementation and procedural improvements. Resolve complex member problems with-in delegated limits. Takes supervisor calls when needed. Discuss complex income calculations with members as requested. Responds to post closing review and audits in a timely fashion. Actively look for exceptions within delegated authority. Present exceptions and recommendations to management. Education and Experience Equivalent combination of education and experience is considered. Bachelor's Degree in a related field is required. Minimum of three (3) years' of experience in lending is required. Lending experience in a Real Estate field is preferred. Supervisory Responsibility This position will not supervise employees. Licenses and Certifications There are no additional certifications required. Work Environment While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise. Travel Limited travel to various worksites is required. About Us Founded in 1935, and still growing, we began as the War Department Federal Credit Union. Today, PenFed is one of the country's strongest and most stable financial institutions with over 1.5 million members and over $21 billion in assets. We serve members in all 50 states and the District of Columbia, as well as on military bases in Guam, Puerto Rico and Okinawa. Our mission isn't simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality. We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more. PenFed is an Equal Opportunity Employer PenFed will maintain and observe personnel policies which will prohibit discrimination or harassment against a person because of race, color, creed, age, sex, gender, religion, national origin, ancestry, genetic information, military or veteran status or obligation, the presence of a physical and/or mental disability and all other statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same. PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.