Northwest Federal Credit Union Mortgage Underwriter Job
For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services to its members. Northwest offers employees a comprehensive benefits package including: medical and dental plans, paid vacation, a generous contribution of $ 401,000, student loan assistance, parental leave and the opportunity to grow professionally through a wide range of job-based, in-class and online training resources. . The Northwest Federal Credit Union was recognized as one of the best places to work for 2020 by the Washington Post and we believe our success is built on the excellence and achievement of our employees. Together, we serve and inspire to transform lives.
The underwriter uses superior knowledge of the fundamentals of underwriting, including property valuation, to underwrite and review conventional, FHA, VA, and Jumbo loans. With a good grasp of secondary market guidelines and the policies and procedures of credit companies, the underwriter reviews files and makes sound lending decisions based on their experience and judgment. The underwriter also guides mortgage staff on policies and properly documents records.
- Possess, maintain and demonstrate superior skills in determining the creditworthiness of loan applicants.
- Demonstrates good judgment based on experience and guidelines when making loan decisions.
- Ensures loans comply with Credit Union standards and procedures, regulatory underwriting guidelines, FHA, VA, and other investor requirements.
- Underwrite mortgages and equity loans at the guidelines of investors and credit unions.
- Fully informed of the various investor program requirements.
- Accurately assesses the creditworthiness of borrowers.
- Accurately assess the collateral of a loan.
- Ensures the negotiability of closed loans and the security of credit union assets.
- Ensures that private mortgage insurance has been obtained when needed and that loans comply with PMI guidelines.
- Analyzes and evaluates the income statements of independent borrowers.
- Responds to and helps resolve loan issues identified by quality control, close after close or other internal departments.
- Provides suggestions for improving underwriting policies and procedures.
- Keeps management informed of market trends and updates on loan compliance.
- Works in tandem with loan officers and loan processing staff to deal with loan terms, questions or issues.
- Strives to maintain 24/48 hour turnaround times in subscription queues.
- Provide training to new underwriters and other staff as required.
- Remain aware of and adhere to NWFCU policies and procedures as well as Bank Secrecy Act (BSA) regulations.
- High school diploma or equivalent
- At least two years of FHA and VA underwriting experience preferred
- Direct Approval (DE) Certification Preferred
- Minimum of three years u2019 experience as an MLO or underwriter required
- Experience underwriting secondary market paper guidelines to include Jumbo Loans
- SAFE Act license required
As a COVID-19 safety measure, our employees must either provide proof of COVID-19 vaccination or follow additional safety protocols, including testing.
Northwest Federal Credit Union is an Equal Opportunity Employer and will screen all qualified applicants regardless of race, color, age, religion, sex, sexual orientation, gender identity, genetic, national, disability, protected veteran status, or any other protected classification information. by the law.
NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodations are required to participate in the application or interview process, to perform essential duties and / or to receive other employment benefits and privileges, please contact the Human Resources department at 703-709 -8900 or HRDepartment @ nwfcu. org.