Mortgage Loan Underwriter

3 days left

Location
Herndon, VA
Posted
Nov 03, 2021
Closes
Dec 03, 2021
Ref
2021-1809
Function
Finance
Hours
Full Time
Overview

For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services for our members. Northwest offers employees a comprehensive benefits program including: medical and dental plans, paid time off, a generous 401k match, student loan assistance, parental leave, and the opportunity to grow professionally through a wide range of job-based, classroom and online training resources. Northwest Federal Credit Union has been recognized as a 2020 Top Workplace by The Washington Post and we believe that our success is built upon the excellence and achievement of our employees. Together, we serve and inspire to transform lives.

The Underwriter uses superior knowledge of underwriting fundamentals, including property evaluation, to underwrite and review Conventional, FHA, VA, and Jumbo loans. Fluent in secondary market guidelines and Credit Union company policies and procedures, the underwriter reviews files and makes sound lending decisions based upon experience and judgment. The underwriter also guides mortgage staff on policies and properly documenting files.

Responsibilities

  • Possess, maintain, and exhibit superior skills for determining the creditworthiness of loan applicants
  • Applies sound judgment based on experience and guidelines when making loan decisions
  • Ensures that loans comply with Credit Union\u2019s standards and procedures, regulatory underwriting guidelines, FHA, VA and other investor requirements
  • Underwrites mortgage and equity loans to investor and Credit Union guidelines
  • Fully knowledgeable of the various investor program requirements
  • Accurately evaluates the credit worthiness of borrowers
  • Accurately evaluates the collateral of a loan
  • Ensures the marketability of closed loans and the safety of Credit Union assets
  • Ensures private mortgage insurance has been obtained when needed and loans are in compliance with PMI guidelines
  • Analyzes and evaluates tax returns for self-employed borrowers
  • Responds and helps resolve loan-level issues identified by Quality Control, Post Closing, or other internal departments
  • Provides suggestions for improvements in underwriting policies and procedures
  • Keeps management informed of market trends and loan compliance updates
  • Works in tandem with loan officers and loan processing staff to address loan conditions, questions or issues
  • Strives to maintain 24 \u2013 48 hour turnaround times in underwriting queues
  • Provides training to new underwriters and other staff as needed
  • Remains cognizant of and adheres to NWFCU policies and procedures as well as regulations pertaining to the Bank Secrecy Act (BSA)


Qualifications

  • High School Diploma or equivalent
  • Minimum two years of FHA and VA underwriting experience preferred
  • Direct Endorsement (DE) certification preferred
  • Minimum three years\u2019 experience as MLO or underwriter required
  • Experience underwriting to secondary market \u201cA\u201d paper guidelines to include Jumbo loans
  • SAFE Act licensing required

As a COVID-19 safety measure, our employees must either provide proof of COVID-19 vaccination or follow additional safety protocols, including testing.

EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.

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