Residential Loan Analyst
Waltham, MA 02451
A top Cambridge based bank is looking to hire an experienced Residential Loan Analyst to join their team!
Residential Loan Analyst
55K-65K + Bonus
- Provide a customer centric service experience while working to ensure the customer’ s financial wellbeing.
- Partner with Underwriters to ensure loans meet guidelines and appropriate conditions are obtained
- Keep assigned Mortgage Loan Originators and/or Branches informed of the status and conditional requirements of loans.
- Communicate key updates to the customer such as loan decision, condition requirements and loan status. Follow up and review with customer on required underwriting conditions. Sign off on conditions as appropriate.
- Review new mortgage applications and prepares disclosures and reviews them for completion and compliance before being sent to the customer. Prepare and send any additional required disclosures throughout the process, as applicable.
- Responsible for managing assigned pipeline of loans ensuring required timelines are met.
- Conducts regularly scheduled pipeline meetings with Mortgage Loan Originators to discuss status of loans and actions to be taken.
- Ensure all compliance requirements are met on every file.
- Order appraisals, order flood certifications, title work, verifications and credit report updates, as required.
- Ensure proper maintenance of Encompass throughout the application process. Including updating all income, asset, credit and collateral information based on documentation received throughout the process.
- Communicate Clear to Close to the Loan Originator, Borrowers, and the Closing Department
- Responsible for loans closing within compliance and required or reasonable time frames. Monitor rate lock expiration dates and purchase and sale for contingency and closing dates to ensure this.
- Be familiar with basic parameters and requirements of all loan products offered.
- Send out all required notification forms such as, incomplete notice, commitment letter, adverse action notice, etc
- High school education.
- 3 years' experience working in a loan processing, closing, servicing or underwriting environment.
- Thorough knowledge of residential loan products, policies and procedures
- Complete knowledge of mortgage and consumer loan products
- Basic understanding of federal and local regulations or ordinances concerning lending activities.
- Strong computer and analytical skills, along with attention to detail and organizational skills are critical.
- Basic understanding of Secondary market guidelines such as; FNMA, FHLMC and approved Investors.