Remote Correspondent Mortgage Underwriter, Non-Delegated

PenFed Credit Union
December 31, 2021
Jacksonville, FL
Job Type


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 Correspondent Mortgage Underwriter. The primary purpose of this job is to review the most complex jumbo loan submissions ensuring they meet company and investor guidelines and evaluating loans in such a way as to maximize company profit and minimize company risk exposure. This position will weigh credit risk to ensure liability taken on by the company results in saleable loans. The successful candidate should demonstrate excellent customer service to internal and external customers and demonstrated ability working effectively with operation and sales teams in an action-oriented environment.  Must be highly proficient meeting daily volume requirements with a high degree of accuracy.


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. 

  • Reviews all loan submissions and follow-up conditions provided by borrower
  • Ensures that corporate operating standards are met for underwriting and compliance
  • Ensures that service commitments are met
  • Mentors less experienced underwriters
  • Reviews all items and conditions provided by borrowers and ensure they meet the required guidelines
  • Reviews items that are a variation of the actual condition required to determine if the acceptance of this condition will be acceptable to the investor
  • Ensures quality control standards are met so company can sell the loan
  • Ensures all credit decisions meet compliance standards.  Monitors property appraisal process to ensure value of property is accurately presented.
  • Underwrites loans through use of manual underwriting processes


*This role is responsible for ensuring business continuity.*

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It is incumbent upon all employees to maintain current knowledge of and take personal action to ensure compliance with all applicable federal, state and local laws, regulations and ordinances as well as PenFed policies, procedures, rules and regulations applicable to incumbent’s professional duties, responsibilities and obligations.


Equivalent combination of education and experience is considered.

  • Completion of a high school education

  • Five (5) years’ work history in the mortgage banking industry to include a minimum of four years in an underwriting capacity
  • Proficient in both AUS and traditional underwriting systems with a demonstrated ability to analyze highest of complexity transactions
  • May be granted conforming, jumbo, HELOC, portfolio, and/or exception authority to include credit, income, asset, and appraisal review.
  • Must have experience and expertise in agency, non-agency, and HELOC underwriting and selling guidelines
  • Must have high degree of expertise reviewing documents within corporate timeframes and maintaining low error rates
  • Must be well organized and have the ability to multi-task
  • Experience and demonstrated expertise accurately assessing risk
  • Proficient in determining if submitted conditions are acceptable, offering alternative suggestions as needed
  • Must have expert level skill analyzing complex business structures, corporate or partnership returns, and financial statements for multiple businesses, as well as the ability to document the analysis with a Fannie Mae 1084 worksheet or similar document.
  • Must have a high level of expertise evaluating more complex loans (jumbo, self-employed borrowers)
  • Must have in-depth experience with high-end properties and able to assess collateral risk
  • Dedicated to meeting and exceeding the expectations and requirements of internal and external customers.
  • Ability to establish and maintain effective relationships with peers and customers gaining their trust and respect
  • Strong communication skills, both verbal and written
  • Must skillfully and effectively mentor those less underwriting experience

Licenses and Certifications

  • LAPP/SAR certifications are preferred

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.*



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.

About Us

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.




Comp Range:$61,700-$116,752

Eligble for Score Card Bonus: Yes

Variable Pay: Yes

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