Credit Analyst/FHA Processor

Company Name:
Salary period: Annual
Process and underwrite/decision saleable conventional loans, maximizing fee income and gain on sale. Process portfolio loans, including construction perm loans, enhancing the Bank's portfolio. Process FHA loans to FHA and investor guidelines. Manage pipeline of assigned Loan Originators to ensure timely submission of loan files and completion of loan closing within required commitments.
Other duties may be assigned.
1. Decision Saleable loans, analysing Loan Prospector or Desktop Underwriter feedback and underwrite appraisal, ensuring adherence to secondary market credit, collateral, and capacity documentation requirements, as well as regulatory compliance. Ensure data integrity of AUS (LP/DU) data input submitted/resubmitted for credit decision from application through closing.
2. Complete Adverse Action/Withdrawal notices as applicable and document file as per company policy adhering to regulatory requirements.
3. Process and prepare portfolio loans for credit decision and loan closing, reviewing application and disclosures for compliance. Verify interest rate and program requirements. Review data entry and revise/update as necessary.
4. Process and prepare FHA loans for FHA credit decision, reviewing application and disclosures for compliance, utilizing FHA connection for specific FHA required items. Verify interest rate and program requirements. Review data entry and revise/update as necessary. Complete the FHA Case Binder with items necessary for processing and decisioning the loan file.
5. Monitor pipeline ensuring compliance to Regulation B and company policy, ensuring that all loans are received, processed, decisioned and closed within all required guidelines. Complete weekly calls to Loan Originators providing current status of all loans in pipeline.
6. Complete welcome call' to borrower upon approval of loan; request intent to proceed' if necessary and review conditions with borrower. Provide, either by mail or email, commitment letter with written conditions. Maintain contact with loan officer, customer, realtors, and seller from application through final approval, informing status and ensuring all conditions of loan commitment are satisfied.
7. Obtain verification of employment, credit, assets and down payment, utilizing alternative or full documentation as required per loan program/product guidelines.
8. Order and/or review credit report/explanation, flood certification, appraisal, FHLMC Exclusionary List and LDP/GSA lists, FraudGuard, HMDA information, mortgage insurance, title commitment/policy, survey and hazard/flood/rent loss/condominium insurance, verifying accuracy of names, legal descriptions, liens, easements, restrictions, taxes, flood zone, value, loan terms ensuring all items adhere to policy, program specific terms and or investor requirements.
9. Maintain familiarity with loan products/fees, underwriting guidelines, rates and regulatory guidelines to comply with established and regulatory procedures.
10. Provide any re-disclosures to borrowers as needed throughout the loan process, ensuring accuracy to compliance guidelines and RESPA changed circumstance' procedures.
This job has no supervisory duties.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Undergraduate degree is required, preferably in accounting, finance or economics, or equivalent experience in loan analysis or lending positions. Minimum 3-years experience required in processing residential mortgage loans and FHA residential mortgage loans, including AU experience.
Thorough knowledge of FHA, FNMA/FHLMC underwriting guidelines, including AU credit and documentation guidelines. Ability to analyze transactions, prioritize workloads and work under pressure.
Ability to read, comprehend, interpret and apply such documents procedure manuals, instructions, correspondence, memos and basic legal documents. Excellent interpersonal and communication skills, both oral and written. Ability to effectively present information in one-on-one, small and large group situations to customers and other employees of the company.
Above average skills in financial analysis, utilizing algebraic equations/ratios.
Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions. Ability to deal with problems involving a few concrete variables in standardized situations.
None required.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, feel; and talk or hear. The employee frequently is required to walk and reach with hands and arms. the employee is occasionally required to stand. Specific vision abilities required by this job include close vision and ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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