Sr Analyst, Real Estate QC Underwriting

Overview

Are you looking to take your career from good to great? As an employee of Pen Fed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.”

Joining Pen Fed is more than being an employee; it’s about being a part of the Pen Fed family.

Pen Fed is hiring a (Hybrid) Sr Analyst, Real Estate QC Underwriting at our Omaha, Nebraksa;
San Antonio, Texas;
Eugene, Oregon or Tysons, Virginia location. The primary purpose of this job is to perform quality control reviews for first trust conventional, VA, FHA and equity real estate loans. This role will evaluate the integrity and quality of the credit, compliance, and collateral aspects of the mortgage loan origination process through pre‑funding and 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, FHA, and Equity Line of Credit loans.

It will validate adherence to Pen Fed’s policies and procedures and secondary marketing investor guidelines. This role requires expertise in evaluating property valuations, including all types of appraisals, AVMs and property condition inspections, with knowledge of Interagency guidelines and Appraisal Independence Requirements.

Reasonable accommodation 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 first trust conventional, VA, FHA and equity mortgage loans to ensure that loans were properly underwritten, and that sound judgment was used in the underwriting process. Complete a thorough analysis of loan files to determine member credit worthiness and collateral values were adequate. Review legal and compliance 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 Pen Fed’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 product.
• Follow up on previous deficiencies and examine samples of corrected files.
• Ability to 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 file and conduct 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.
• 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), Freddie Mac, FHA and external investors.

Equivalent combination of education and experience is considered.

• Bachelor’s degree in business, accounting, finance, or another related field required.
• Minimum of three (3) years progressive experience in real estate lending with underwriting experience required, preferably in a bank or credit union environment.
• 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.
• Active or recent VA SAR and/or FHA DE underwriting authority preferred.
• Proficiency with Encompass is…