What are the responsibilities and job description for the Credit Analyst - Residential Mortgage position at Popular Community Bank?
At Popular, we offer a wide variety of services and financial solutions to serve our communities in Puerto Rico, United States & Virgin Islands. As employees, we are dedicated to making our customers dreams come true by offering financial solutions in each stage of their life. Our extensive trajectory demonstrates the resiliency and determination of our employees to innovate, reach for the right solutions and strongly support the communities we serve; this is why we value their diverse skills, experiences and backgrounds.
Are you ready for a rewarding career?
Over 8,000 people in Puerto Rico, United States and Virgin Islands work at Popular.
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Residential Mortgage Credit - US
The Residential Mortgage Credit Analyst is responsible for analyzing and underwriting credit and collateral documentation related to 1-4 family residential mortgages. The Residential Mortgage Credit Analyst must apply knowledge of Fannie Mae, Freddie Mac, Investor, and Popular Bank underwriting guidelines and compliance regulations to ensure documentation quality and acceptable risk levels.
This role is an instrumental part of the mortgage loan process since a residential Mortgage Credit Analyst is responsible for decisioning loans to facilitate meeting closing deadlines, client expectations, and the established service level standards of Popular Bank.
In this position, you will:
- Thoroughly evaluate the accuracy of submitted documentation pertaining to complex loan applications, credit, income, assets, subject property, loan to value, ratios, and loan terms
- Review the application and information in the Loan Origination System for accuracy to ensure program guidelines are met
- Perform a careful in-depth examination of the appraisal report and collateral for the loan. Analyze the appraisal report to determine the acceptability of the collateral, that the value is supported, that marketability is acceptable and supported by the report data
- Review and approve third party reports/documents, including purchase contract/addendums, title report, escrow instructions, environmental report, and other legal documentation
- Request documentation necessary to complete the loan submission or to qualify for the loan program and clear all prior to closing loan conditions
- Utilize Fannie Mae DU, Freddie Mac LPA, or manual underwriting methods in reviewing loans
- Approve, deny, or issue a counter-offer on loans in accordance with terms and conditions related to credit or collateral underwriting
- Effectively communicate loan decisions and requirements to a Home Loan Processor and/or Lending Officer
- Provide responses and documentation to cure Quality Control audit findings
- Maintain current knowledge of policies, guidelines, compliance, mortgage insurers, investors, and Popular Bank
- Maintains a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws, the Patriot Act, and the Office of Foreign Assets Control appropriate to the position
To be considered, you will need:
- High School Diploma or equivalent
- 5 years’ experience as a mortgage underwriter
- Experienced with, or at minimum, familiar with Condo Project Manager, Early Check, and Loan Collateral Advisor applications
- Prior use of Encompass Loan Origination System within the last 3 years
- Expert knowledge of mortgage lending programs including Non-Conforming, Fannie Mae, and Freddie Mac guidelines, as well as the use automated underwriting systems
- Expertise in analyzing complex income and assets for self-employed and high-net-worth applicants
- Strong knowledge of unique vesting i.e, Trusts and LLC’s
- Knowledge of federal regulations including but not limited to: TRID, RESPA, HMDA, ECOA, FCRA, FDPA, and Reg Z
Salary Range Information
Our base salary for this position located in New York generally ranges between $100,000.00 and $115,000.00 annually, 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.
Important: The candidate must provide evidence of academic preparation or courses related to the job posting, if necessary.
If you have a disability and need assistance with the application process, please contact us at asesorialaboral@popular.com. This email inbox is monitored for such types of requests only. All information you provide will be kept confidential and will be used only to the extent required to provide reasonable accommodations. Any other correspondence will not receive a response.
As a leading financial institution in the communities we serve, we reaffirm our commitment to always offer essential financial services and solutions for our customers, including during emergency situations and/or natural disasters. Popular’s employees are considered essential workers, whose role is critical in the continuity of these important services even under such circumstances. By applying to this position, you acknowledge that Popular may require your services during and immediately after any such events.
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Salary : $100,000 - $115,000
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