Overview To examine and evaluate real estate lending documents associated with subordination requests, collateral changes, decedent processing, Successor in Interest validation, home equity line of credit (HELOC) freeze appeals, and homeowner's association (HOA)/condominium amendment reviews. Review, research and analyze related court notices and title matters. May serve as subject matter expert (SME) to other business areas regarding collateral risk. Work under guided supervision.
Responsibilities - Research, respond, and track moderately complex inquiries related to collateral risk
- Monitor first mortgage and equity loan guidelines and procedures to ensure compliance with government sponsored enterprise (GSE) such as Fannie Mae and Freddie Mac, Navy Federal Credit Union (NFCU), and National Credit Union Administration (NCUA)
- Identify risk exposures to control and mitigate financial loss from first mortgage and equity collateral transactions by performing internal/external inquiries and preliminary investigations
- Order and analyze property valuations and credit bureau reports
- Maintain consistent and accurate documentation when interacting with members or third parties
- Communicate extensively with members, external settlement attorneys, surveyors, title companies, survivors of deceased, and attorneys regarding required documentation
- Assess, compose, and present a member's credit risk profile to management for final decisioning
- Review, research and analyze legal documents to ensure validity, accuracy and adherence to NFCU and investor guidelines
- Collaborate with NFCU business areas (i.e., Survivor Support, Loans Charged to Reserve (LCR), Mortgage Default, Mortgage and Equity Servicing, Contact Center, Branch Operations, etc.) to discern impact of collateral risk related transactions
- Provide input to management regarding operational improvements, strategies, and initiatives for enhancement
- Determine the Successor in Interest, as regulated by Consumer Financial Protection Bureau (CFPB), by reviewing documents such as power of attorneys, deeds, revocable living trusts, probated list of heirs, and letters of testamentary
- Process title to property transfers and deceased member notifications
- Validate potential Successors in Interest by initiating letters and conveying necessary documents
- Review and analyze subordination packages for accuracy, completeness, and potential risk to the collateral, and recommend disposition and/or conditions for approval
- Collaborate with refinancing lender or title company regarding discrepancies in documentation and set timelines for resolution
- Perform other duties as assigned
Qualifications - Familiarity with CFPB servicing rules, NCUA requirements, and Navy Federal policies and procedures
- Working knowledge of current regulations and investor guidelines to offer options to Successors, such as assuming the loan or referring to Mortgage Default
- Experience in managing multiple priorities independently and/or in a team environment to achieve goals
- Ability to display the highest degree of tact, patience, sensitivity, and confidentiality
- Exposure to working with/for depository and lending institutions
- Exposure to project management and/or leading initiatives of small to medium scope
- Ability to work independently and in a team environment
- Effective skill comprehending, analyzing, applying, and communicating complex written legal documents
- Effective skill following, interpreting, and applying relevant data/instructions to guidelines, procedures, practices, and regulations
- Effective skill exercising initiative and good judgment to make sound decisions
- Effective organizational, planning and time management skills
- Effective research, analytical, and problem-solving skills
- Effective word processing and spreadsheet software skills
- Effective verbal and written communication skills
Desired Qualifications- Familiarity with credit union operations/processes and procedures
- Working knowledge of NCUA regulations that govern the activities, products and services of the business unit
- Familiarity with products, services, processes, requirements, and systems related to the business unit
- Associate degree in Business, Finance, or related field
Additional InformationHours: - Monday - Friday, 8:00AM - 4:30PM
Location: - 5510 Heritage Oaks Drive, Pensacola, FL 32526
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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 or by calling 1-. 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.
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Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
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