Mortgage Underwriter

Navy Federal Credit Union; Pensacola (FL); On-site; USD 65,000 - 90,000; Full time

Job summary

Navy Federal Credit Union is seeking an experienced Mortgage Underwriter to evaluate and underwrite mortgage loan requests across multiple programs in compliance with state and federal regulations. The role requires analyzing income, assets, credit, and collateral, and making loan decisions within NFCU guidelines and investor requirements.

You will collaborate with loan originators and processors, review exceptions, and present alternatives for marginal loans while ensuring timely processing.

Qualifications

• 3 years of experience in mortgage lending.
• Intermediate knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations.
• Familiarity with underwriting process and understanding of applicable criteria, guidelines, rules and regulations.
• Proficient with basic database and presentation software.
• Strong organization, planning and time management skills.
• Analytical and problem-solving abilities.
• Ability to conduct financial analysis of personal and business finances.
• Judgment and initiative in decision making.
• Verbal and written communication skills.
• Word processing and spreadsheet skills.

Responsibilities

• Analyze mortgage loan information on loan documents to confirm eligibility based on NFCU and investor guidelines.
• Analyze exceptions and rejections; recommend alternative mortgage products to meet guidelines.
• Analyze self-employed borrower income documentation.
• Approve mortgage loans and authorize disbursements based on analysis and applicable rules.
• Evaluate collateral to ensure sufficient security for the loan.
• Prepare and present options on marginal loans; prepare adverse action notifications or secondary reviews.
• Review contracts related to real estate such as HOAs.
• Collaborate with loan originator and processor to obtain required data.
• Participate in mentoring sessions for Mortgage Processors, Closers, and Officers.
• Maintain knowledge of NFCU mortgage products and guideline changes.
• Collaborate with training to ensure guidelines are conveyed accurately.
• Perform secondary review of dispositioned loans that are suspended/declined.
• Perform other related duties as assigned.

Skills

Mortgage underwriting

Data analysis

Time management

Communication skills

Documentation knowledge

Problem solving

Office software

Research skills

Job description

Overview

To evaluate and underwrite all mortgage loan types offered by Navy Federal Credit Union (NFCU) according to specific state and federal requirements to limit the risk exposure to NFCU's mortgage portfolio. To analyze required loan documentation and information presented in the mortgage loan request, to condition and make appropriate loan decisions based on the acceptability of the credit risk using established guidelines of NFCU, secondary market investors, and applicable state and government regulations. Works on assignments that are semi-routine in nature; recognizes the need for occasional deviation from accepted practice. Follows established procedures, requires limited instructions on new assignments. Works under supervision from higher level peers and leadership. Participate in basic research/review.

Responsibilities

• Analyze mortgage loan information on loan documents such as income, assets, and credit criteria to confirm loan eligibility based on Navy Federal guidelines as well as adherence to investor requirement with or without independent scoring systems
• Analyze exceptions and rejections; recommend alternative mortgage products that could bring the loan within guidelines.
• Analyze self-employed borrower income documentation
• Approve mortgage loans and authorize loan disbursements based on a complete analysis of submitted documentation and/or applicable rules and regulations
• Determine the acceptability and marketability of the real estate property to analyze if there insufficient collateral to secure the loan
• Prepare and present alternative options on marginal loans; analyze exception requests, prepare adverse action (loan disapproval) notifications or secondary loan reviews for adverse action, with awareness of compliance provisions of regulatory agencies
• Review/understand effects of contracts related to real estate, such as age restrictions, HOAs, etc.
• Work closely and collaborate with loan originator and processor to ensure all appropriate data and required documentation is obtained
• Participate in mentoring sessions for Mortgage Processors, Mortgage Closers, and Mortgage Loan Officers
• Maintain current knowledge of all NFCU mortgage products and any changes to guidelines by NFCU, investor, or government agencies that impact the processing of mortgage loan products
• Participates in collaboration with training team to maintain training materials to ensure all guidelines are conveyed accurately and consistently
• Perform secondary review of dispositioned loans that are suspended and/or declined
• Perform other related duties as assigned

Qualifications

• 3 years of experience in mortgage lending
• Intermediate knowledge of mortgage/equity loan processing, closing and documentation requirements and regulations
• Familiarity with underwriting process and understanding of applicable criteria, guidelines, rules and regulations
• Basic database and presentation software skills
• Basic organizational, planning and time management skills
• Basic research, analytical, and problem solving skills
• Basic skill conducting complex personal and business financial analysis
• Basic skill exercising initiative and using good judgement to make sound decisions
• Basic verbal and written communication skills
• Basic word processing and spreadsheet software skills

Desired Qualifications

• Basic skill in underwriting self-employed borrowers
• Basic skill conducting complex personal and business financial analysis

Additional Information

Hours:

• Monday - Friday, 8:00AM - 4:30PM

Location:

• 5550 Heritage Oaks Drive Pensacola, FL 32526
• 141 Security Drive Winchester, VA 22602
• 9999 Willow Creek Road, San Diego, CA 92131
• 11270 St Johns Industrial Parkway South Jacksonville, FL 32246
• 9001 Airport Freeway, 9th Floor Suite 925 North Richland Hills, TX 76180
• 295 Bendix Rd Suite 250 Virginia Beach, VA 23452
• 4 Concourse Pkwy, Suite 100 Sandy Springs, GA 30328

About Us

Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.

Our approach to careers is simple yet powerful: Make our mission your passion.

• FORTUNE 100 Best Companies to Work For® 2026
• Yello and WayUp Top 100 Internship Programs 2025
• Computerworld® Best Places to Work in IT 2026
• Most Loved Workplace – America’s Top Most Loved Workplaces® 2025
• 2025 PEOPLE® Companies That Care
• Newsweek Most Trustworthy Companies in America 2026
• Military Times 2025 Best for Vets Employers
• Forbes® 2026 America's Best Large Employers
• Forbes® 2025 America's Best Employers for New Grads
• Forbes® 2025 America's Best Employers for Tech Workers
• 2025 RippleMatch Campus Forward Award Winner for Overall Excellence
• Military.com Top Military Spouse Employers 2025
• 2026 Handshake Early Talent Award
• Newsweek America’s Greatest Workplaces for Culture, Belonging and Community 2026

From Fortune Magazine. © 2026 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 100 Best Companies to Work For are registered trademarks of Fortune Media IP Limited and are used under license. Fortune Magazine, Fortune Media (USA) Corporation, and its affiliates are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.

Equal Employment Opportunity:

All qualified applicants will receive consideration for employment without regard to age, race, sex, color, religion, national origin, disability, veteran status, pregnancy, sexual orientation, genetic information, gender identity or any other basis protected by applicable law.

Accommodations:

If you need accommodation or assistance for a qualifying condition to complete the online application (or during any stage of the hiring process), you can contact Navy Federal's Medical Accommodations team at [e-mail] or by calling 1-888-503-6013. This team cannot provide any information on job postings or application status.

Disclaimers:

Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position. For additional details regarding compensation and benefits, review the Benefits page of the Navy Federal Career Site.

Bank Secrecy Act:

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.