FHA Mortgage Quality Control Underwriting Analyst (Remote)
Join one of the nation's fastest-growing mortgage teams. At Penfed, our people are our greatest advantage. As we grow rapidly, we want to hire the industry's leading talent. If you are up for the challenge, you belong here. PenFed is hiring a FHA Mortgage Quality Control Underwriting Analyst at the following locations: Tysons, Virginia, Eugene, Oregon, Alexandria, Virginia, Omaha, Nebraska, Papillion, Nebraska, and San Antonio, Texas. The primary purpose of this job is to perform quality control reviews for first trust real estate loans. This role will evaluate the integrity and quality of the credit aspect of the mortgage loan origination process through post-funding loan reviews designed to verify the accuracy and integrity of the information and loan documentation used to support the lending decision for conventional, VA and FHA loans. It will validate adherence to PenFed's policies and procedures and secondary marketing investor guidelines. This role will serve as a mentor to Junior Analysts, aiding as needed. In addition, this role will also support the management team with identified projects and reporting needs. *This position can be remote* Responsibilities Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. Conduct reviews of conventional, VA and FHA mortgage loans to ensure that loans were properly underwritten, and that sound judgment was used in the underwriting process. Complete a thorough analysis of the closed loan file to determine member credit worthiness and collateral value were adequate. Review legal documentation as applicable.Conduct reviews of mortgage loans to evaluate the accuracy and integrity of the information and loan documentation used to support the lending decision.Conduct reviews of mortgage loans to ensure compliance with PenFed's policy and procedures, investor, agency, and secondary market requirements.Analyze and determine accurate defect ratings based on investor's loan eligibility requirements. Evaluate the entire credit package and collateral for residential mortgage loans and ultimately ensure an investment quality loan productFollow up on previous deficiencies and examine samples of corrected files.Work collaboratively with Mortgage Operations, providing clarification of review results as needed.Understand and interpret all credit underwriting documentation required to be reverified in each loan folder and conducts further research as necessary.Perform peer reviews and provide guidance to junior analysts as needed.Assist with process testing as assigned and participate in special projects.Assist in the production and distribution of regularly scheduled department reports.Maintain a working knowledge of internal policies, procedure, external regulations, secondary market underwriting guidelines, investor, and private mortgage insurance guidelines.Maintain current knowledge of Fannie Mae, Veterans Administration (VA), and Federal Housing Administration (FHA) quality control standards and requirements. Qualifications Equivalent combination of education and experience is considered.Bachelor's degree in business, accounting, finance, or another related field required.Minimum of five (5) years progressive experience in real estate lending with underwriting experience required, preferably in a bank or credit union environment.FHA Direct Endorsement designation is required.Advanced knowledge of real estate loans (origination, processing, closing, funding) required. Broad knowledge of consumer real estate lending, including first trust mortgage loans, home equity loans and lines of credit.Knowledge of lending compliance regulations and system definitions.Work EnvironmentWhile performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.* TravelAbility to travel to various worksites and be on-call is required. Special Message Regarding COVID 19PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world. In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing. About Us Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day. 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. Equal Employment OpportunityPenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all 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 240-224-4256.