Condo Approval Analyst

Overview

Position: Condo Approval Analyst 

Location: Remote

Compensation: $37/hr.  OT eligible + Benefits

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.

Other Duties: This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization.

Physical Demands: 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. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.

[EOE/M/F/D/V. Drug-free workplace.]

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