Remote Mortgage Underwriting Analyst – Scenario Desk – Career.Co-Sign

Join one of the nation’s fastest-growing mortgage teams. At Penfed, our people are our greatest advantage. As we grow rapidly, we want to hire the industry’s leading talent. If you are up for the challenge, you belong here.

PenFed is hiring a Remote Mortgage Underwriting Analyst- Scenario Desk. The primary purpose of this position is to provide scenario desk coverage for retail and correspondent channels, providing adverse action and mentor support and for reviewing condominium documentation to determine if a project meets agency requirements.

This postion can be filled anywhere in the United States


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.

  • Review complex tax returns and income calculations to ensure compliance with guidelines.
  • Review and respond appropriately to all questions/calls submitted to the scenario desk-related to UW guidelines and eligibility requirements.
  • Perform tasks in alignment with current Non-Agency/Agency/PenFed guidelines. Assist with maintaining PenFed’s compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations.
  • Document evaluation and analysis to ensure quality, completeness, qualifying eligibility and compliance.
  • Maintain current knowledge of all internal policies and procedures; stay up to date with changing GSE/VA/Non-agency guidelines and policies.
  • Evaluate and ensure compliance with all guidelines for condominium project approval.
  • Understand Fannie’s CPM (Condo Project Manager) site and the information that is input into the CPM site and the guidelines for how that information is obtained and determined as a project that is certified.
  • Review loans and mentor new hires prior to recommending them for underwriting authority.
  • Review loans submitted for adverse action.


Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in a related field or combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential functions.
  • Minimum of three (3) years of underwriting experience.
  • Thorough knowledge and experience in underwriting multiple product types: Conforming, VA, FHA and non-conforming loan products.
  • Experience reviewing complex income scenarios for self-employed borrowers.
  • Experience working with Encompass LOS.

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.

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