Mortgage Loan Analyst III

Job Description

Mortgage Loan Analyst III

Department/Branch: Underwriting/Corporate Operations

Reports to: Underwriting Vice President

FLSA Status: Non-Exempt

Work Schedule: Full-time 

Location: Fully Remote – This position is located in the United States. Currently, we are not able to employ candidates who will work from outside the U.S. for this role.

POSITION SUMMARY DESCRIPTION

Process and Underwrite Conforming Conventional, FHA, VA, USDA and Jumbo Loans. Accountable for the accurate, complaint, and timely processing and underwriting of residential mortgage loans from application through final approval and closing. Ensure loan files meet all company, investor, state, and federal guidelines by verifying documentation, analyzing risk, determining conditions, and issuing approval or denial decisions. Works collaboratively with internal partners to ensure quality loans, strong customer service, and adherence to productivity and quality control standards. 

Specific Responsibilities

1. Organize, compile, verify, and analyze mortgage loan files. 
2. Underwrite and evaluate residential mortgage loans.
3. Determine loan eligibility, conditions, approvals, or denials in compliance with guidelines. 
4. Communicate decisions clearly and meet departmental productivity and quality standards.
5. Review residential loan applications for completeness, accuracy, and compliance.
6. Calculate income, check for garnishments, review assets for large deposits, gifts, loans not on the credit report.  
7. Review appraisal to ensure accuracy and completeness. Contact borrower for any additional information required.  
8. Run AUS to ensure meet all required finding conditions. 
9. Update all documentation received in encompass after file is submitted to MLA. 
10. Order and coordinate loan documents.  
11. Contact specified companies to collect information regarding the property’s price, appraisal survey, and title insurance.  
12. For non-delegated loan programs, submit mortgage loan application file for underwriting approval per established procedures. 
13. Submit approved mortgage loan file to Mortgage Loan Closer for settlement per established procedures.
14. Review and evaluate mortgage documentation, determine conditions, communicate with internal partners, resolve inconsistencies, prepare approval or denial, and ensure smooth loan progression through closing.
15. Underwrite Conforming Conventional, FHA, VA and USDA loans, ensuring mortgage loan files are in compliance with established company, state and federal reporting guidelines. Strictly adhere to specified underwriting guidelines.
16. Verify accuracy and evaluate documentation to meet agency guidelines associated with mortgage loan originations including but not limited to: application, income, asset, credit, appraisal, title information and condition loan accordingly.  
17. Responsible for meeting productivity and Quality Control goals as required by management.
18. Effectively communicate required conditions to expedite final approval of the file.
19. Effectively provide excellent customer service and professionalism
20. Determine if any loan conditions require further review for approval, requesting data in accordance with guidelines, clearing conditions.   
21. Evaluate acceptability of loans to corporations that buy real estate loans on secondary mortgage markets, where existing mortgages are bought and sold by investors. 
22. Keep abreast and maintain a working knowledge of all current underwriting guidelines, federal and state lending laws and adhere to all company quality control standards.
23. Collaboratively work with mortgage loan originators by maintaining regular and open communication to resolve loan conditions.
24. Effectively partner with interdepartmental associates to ensure smooth and efficient processing of all loans in the pipeline. Quickly resolve any issues regarding originated loans.
25. Actively participate in ongoing efforts to continually improve customer service for internal and external customers.
26. Required to leverage the tools and technology provided by the company to ensure efficiency and accuracy of the approval.
27. Perform all other duties and tasks assigned.

Job Requirements

Broad Knowledge & Experience

Broad understanding of residential mortgage loans, and familiarity with mortgage loan products. Clear understanding of the current RESPA laws and guidelines. Detailed knowledge of processing, underwriting and closing procedures. Must be well versed in Conforming Conventional, FHA, VA, USDA, and Jumbo loan guidelines.

Above Average Skills

High degree of functional knowledge in subject matter and ability to communicate that expertise to all organizational levels within internal and external clients.

Demonstrated Ability

Ability to solve practical problems and deal with a variety of variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in writing, oral, diagram or schedule form. Ability to use the automated system, manage multiple files, work under pressure, and adapt to sudden changes in the work environment.  

General Knowledge

Positive attitude, planning and execution, strong work ethic.

Education & Experience

Degree or Equivalent

BA from four-year college or university; or equivalent combination of education and experience.

Years’ Experience

Five plus years related experience and/or training

Specialized Training

Knowledge of Encompass Database software and Desktop Underwriter, Loan Prospector, FHA connection, VA.gov, completing VA NOV, USDA GUS, verification ordering and Data Verify Internet software is essential. Must be competent at self-employed income analysis.

Active Affiliations, Certifications

FHA DE, SAR and LAPP

Work Environment

Physical Demands

Office environment, Daily computer usage requires close vision. Regular attendance is required.

Work Conditions

Fast-paced, high-volume activities.

Temperament

In order to succeed in this position high attention to detail, organizational and team planning, and adherence to guidelines amidst a fast-changing environment is a must.

Benefits

Paid time off, paid holidays, volunteer time off.

Voluntary: Medical, dental, vision, HSA, FSA, Short-Term Disability, Voluntary Life Insurance, CHUBB Supplemental Insurance, Pet Insurance, 401K.

Company Paid: Long-Term Disability, Group Life Insurance, Employee Assistant Program (EAP), 401K Match, Employee Stock Ownership Plan (ESOP).