PenFed is one of the nation’s fastest growing mortgage teams. We’ve created four new regional sites that are work-from-home opportunities for mortgage professionals. Our team members can be located within a 100-mile radius of each of the following cities: Phoenix, Dallas, Charlotte, and Jacksonville. At PenFed, we believe everyone who dreams big and works hard deserves great rates and rewards. If you agree, you belong here.
PenFed is hiring a Remote Mortgage Underwriter at one of the following locations: San Antonio, Texas; Dallas, Texas; Charlotte, North Carolina; Phoenix, Arizona; and Jacksonville, Florida. The primary purpose of this job is to underwrite conventional, correspondent, and VA loans in accordance with internal and investor guidelines to enable sale on the secondary market. The Mortgage Underwriter will respond to audits and quality control reviews on mortgage files.
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.
- Complete a thorough analysis of the loan file to determine member credit worthiness and collateral value. Review legal documentation as applicable.
- Evaluate geographic area, loan type, ownership and occupancy of the residence and assure proper adjustments are made to loan terms, rate or amount when applicable
- Underwrite to current Appendix Q/FNMA/VA/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.
- Evaluate the entire credit package and collateral for residential mortgage loans and ultimately ensures an investment quality loan product.
- This includes full condominium reviews and complex tax returns when applicable.
- 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.
- Maintain a working knowledge of secondary market underwriting guidelines, investor and private mortgage insurance guidelines.
- Interpret policies and guidelines for loan processors and other PenFed employees requiring guidance. Communicate clearly with processors when documentation is inaccurate. 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.
- Discuss complex income calculations.
- Respond to post closing review and audits in a timely fashion.
- Actively look for exceptions within delegated authority. Present exceptions and recommendations to management.
Equivalent combination of education and experience is considered.
- Bachelor’s Degree in a related field is required.
- Minimum of three (3) years’ of mortgage underwriting experience in lending is required.
- Real Estate Lending experience is required. Experience with VA, FHA and SAR is preferred.
- Strong verbal and written communication skills
Licenses and Certifications
- LAPP/SAR certifications are preferred
While 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.*
Ability to travel to various worksites and be on-call may be required.
Special Message Regarding COVID 19
PenFed 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.
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 Opportunity
PenFed 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.