Manager, Mortgage Underwriting

Compensation

: $78,416.67 - $160,160.00 /year *

Employment Type

: Full-Time

Industry

: Financial Services - Insurance



Manager, Mortgage Underwriter

PenFed is continuing to hire and train exceptional individuals to help us serve our 1.8 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.
PenFed is committed to the safety of our teammates around the globe. If you have any questions or concerns, please reach out to us for more information.

Summary
PenFed Credit Union is hiring a Manager, Mortgage Underwriter in San Antonio, Texas. The primary purpose of this job is to support the operations staff in maintaining the underwriting quality on all loan files. Validate & analyze findings on credit and compliance quality control reviews according to FNMA, FHLMC, VA and PenFed guidelines.

Essential Functions
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.
  • Collaborate with Team Manager and Assistant Manager for completing the monthly scorecards for Underwriters, the staff performance evaluations, and recommend content for training and development of Underwriters.
  • Review training flashes prepared by the Underwriting Assistant Manager in regards to guideline changes, updates, systems enhancements, etc.
  • Provide complete overview of the Underwriting quality trending on all Conforming, Conventional, Jumbo & Super Jumbo loans to meet GSE, Appendix Q & PenFed guidelines.
  • Responsible for working with Lending Services to get approval from the Credit Risk Committee on changes related to product & underwriting guidelines. Update the Mortgage Origination Manuals related to Underwriting.
  • Counsel and provide training and guidance to less experienced staff. Assists with cross training as needed.
  • Validate & analyze reports that identify the responsible parties on findings reported by QC, QA, Loan Delivery, Post Closing, Credit Risk and/or Compliance. Communicates all trends for the responsible parties and any necessary follow-ups to Director.
  • Provide guidance on escalated underwriting loan scenarios and requirements. Works closely with Manager, Loan Delivery to ensure all saleable loans are meeting investor requirements.
  • Remain current on all mortgage related regulations and changes and keeps section staff informed.
*This role is responsible for ensuring business continuity.*

Education and Experience
Equivalent combination of education and experience is considered.
  • Bachelor's degree or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
  • Minimum seven (7) years related work experience in mortgage lending with at least 3 years of underwriting experience.
  • Experience managing mortgage operations that involved customer interaction
  • Strong verbal and written communications skills required. Attention to detail required.
  • MS office general knowledge required.
Supervisory Responsibility
This position will supervise employees.

Licenses and Certifications
There are no additional licenses and/or certifications required.

Work Environment
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.*

Travel
Ability to travel to various worksites and be on-call may be required

About Us
Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions with over 1.8 million members and over $25 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. 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.
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.

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 .
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Associated topics: banking service, loan officer, loan review, loan review officer, mortgage loan officer, mortgage originator, personal banker, personal banker i, personal banker iii, sell * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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