The Underwriter evaluates and approves files submitted by NACA Counselors based on “Character Lending” criteria. The credit decision criteria is based on a Member applicant’s payment history and compensating factors and does not include consideration of their credit score. NACA does not use traditional risk-based pricing criteria, but rather determines if the file demonstrates that a Member is ready for home ownership and the requested payment is within their affordability. This is an underwriting position where the Underwriter must be able to manually calculate income and underwrite mortgages based on the Member’s individual circumstances. This includes examining and verifying documents and data entry to ensure accuracy and completeness; determining an affordable mortgage payment for the Member; and reviewing a complete document package to make an approval decision. This position requires communication with Members, real estate agents, participating lenders and others to assist Members through the qualification, bank application, and closing process.
The NACA mortgage requires full document underwriting. Agreements with participating lenders provide NACA with the flexibility to make common sense underwriting decisions. The Underwriter utilizes extensive criteria that take the Member's total circumstances into account and adjusts for factors that may be out of the Member’s control. It is the Underwriter’s ultimate responsibility to determine whether Members are ready for homeownership and the maximum mortgage payment they can afford. The Underwriter utilizes NACA's state-of-the-art, web-based mortgage counseling, processing and underwriting software called 'NACA Lynx,' which allows NACA to do affordability lending and underwriting on a large scale.
The Underwriter works with NACA Counselors to help them understand NACA's underwriting criteria, policies and procedures. The Underwriter also identifies staff issues based on the quality of submissions and recommends where additional assistance and training is appropriate.