Condo Approval Analyst

Overview

Position: Condo Approval Analyst 

Location: Remote

Compensation: Starting Salary up to $38.46/hr DOE, OT eligible

Position Summary:

The Condo/Co-op Project Review Analyst will be responsible for approval and or decline of Condominium and Co-op Projects for various investors including Fannie Mae, Freddie Mac, FHA, and Jumbo.

Responsibilities

• Follows and complies with current Agency and Investor project guidelines to ensure standards are met for mortgages sold and delivered, secured by units within Condominium Projects for various investors; Fannie Mae, Freddie Mac, FHA, VA, and various Jumbo investors as well as Co-op Projects for Fannie Mae and Freddie Mac.
• Detail review of condominium; questionnaires, financials, insurance, recorded legal documents, as well as review of litigation, ground leases, affordable housing, resale deed restrictions, and private transfer fees.
• Analyze and review Co-op questionnaire; 2 yrs. most recent Audited Financials or Corporate Tax Returns
• Analyze and approve condominium projects per loan program parameters, such as Limited Review, Full Review of Established, New Construction for conventional, FHA and VA reviews.
• Communicates to direct supervisor for any decline or ineligible projects.
• Communicates to sales of all conditions reviewed/cleared or conditions still outstanding.
• Provides detail comments in New American Funding condominium database, enters appropriate programs/phases for each project, and presale.
• Organizes and uploads all condominium documents in specified format to internal (conventional) and external database (FHA and VA) systems.

Qualifications

• Demonstrate advanced product knowledge of Condominium project standards for FHA, both SUA and Delrap; Conventional and other loan programs such Jumbo investors.
• Attention to detail, highly organized and is able to meet SLA’s set by company.
• Advanced ability to analyze complex condominium project documents such as CC&Rs, public offering, reserve studies, condominium insurance, and condominium plans.
• Ability to maintain an elevated level of professionalism, customer service, and communication with all parties involved in the loan cycle.
• Proficient with Encompass, or other paperless mortgage loan origination systems.
• Minium of 5 years’ experience of Condominium and Co-op Project underwriting
• Knowledge of Local 11 Law for NYC

Desired Education/Experience:

• High School diploma or equivalent
• Experience with Encompass 360

Work Authorization: Must be able to verify identity and employment eligibility to work in the U.S.