Loan Analyst - Residential Mortgage

National Mortgage Fulfillment

The Loan Analyst is responsible for collecting and analyzing the documentation related to 1-4 family residential mortgages. The Loan Analyst must apply knowledge of Fannie Mae, Freddie Mac, Investor, and Popular Bank guidelines and compliance regulations to ensure documentation quality.

This role is an instrumental part of the mortgage loan process since the Loan Analyst is responsible for facilitating communications with all transaction stakeholders, document collection, and service orders required to meet closing deadlines, client expectations, and the established service level standards of Popular Bank.
 

In this position, you will:

• Examine the mortgage loan application file to ensure that the data is complete and meets the requirements of the loan program, such as but not limited to loan amount, borrower assets and liabilities, and length of employment
   
• Prepare and deliver applicable disclosures, monitor TRID tolerances, and ensure compliance with all applicable investor, state, and federal requirements
   
• Review and confirm with the loan applicants the information presented on the application, including but not limited to income, debt, and credit history
   
• Request documents for verification, such as an income tax return, bank account number, purchase agreement, and property description
   
• Facilitate the receipt of the property abstract, survey, appraisal documents, and all supplemental documentation required to complete the loan application
   
• Inform supervisor of unresolved discrepancies such as compliance violations, loan data quality, and supporting documentation quality
   
• Submit a mortgage loan application file for underwriting approval
   
• Submit the approved mortgage loan file to the closing officer for settlement
   
• Maintain applicant communication, address the applicant's questions
   
• Inform the applicant of closing costs such as an appraisal, a credit report, and origination fees
   
• Record data on the status of loans, including the number of new applications and loans approved, canceled, or denied
   

To be considered, you will need:

• High School Diploma or equivalent
   
• 5+ years’ experience as a mortgage processor
   
• Prior use of Encompass Loan Origination System within the last 3 years
   
• Knowledge of mortgage lending programs including Non-Conforming, Fannie Mae, and Freddie Mac guidelines, as well as the use automated underwriting systems
   
• Understanding of managing the collection of complex income and assets for self-employed and high-net-worth applicants
   
• Knowledge of federal regulations including but not limited to: TRID, RESPA, HMDA, ECOA, FCRA, FDPA, and Reg Z
   

Base Salary & Benefits

Our base salary for this position located in New York City generally ranges between  $32.00 and $45.00  hourly, depending on business need and on your qualifications and experience. Base salary does not include incentive compensation, commission, or any other type of remuneration or benefits.

In addition to salary, Popular's well-rounded benefits package for regular full-time and part-time employees includes a comprehensive health plan, flexible time off options, and savings and investment plans. Seasonal/temporary employees are not eligible for these benefits.