Mortgage Credit Analyst assesses the risk and creditworthiness of loan applicants and recommends loan approval, terms, or application denial. Gathers necessary credit, income, and tax information to conduct financial assessments. Being a Mortgage Credit Analyst reviews and verifies property appraisals, collateral value, and key indicators such as debt-to-income and loan-to-value ratios. Prepares a detailed credit analysis and summary using underwriting guidelines, risk assessment frameworks, and following applicable regulatory compliance. Additionally, Mortgage Credit Analyst may require a bachelor's degree. Typically reports to a manager. The Mortgage Credit Analyst work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Mortgage Credit Analyst typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Summary: To assist the lenders in underwriting commercial loans and consumer loans as needed to properly analyze and document the risks associated with the individual credits as well as any other issues necessary to properly evaluate the request for an extension of credit.
Essential Duties and Responsibilities in the following but not limited to this only:
Qualifications:
Education/Skills:
Credit Analysts are required to hold a bachelor’s degree in finance, accounting, or a related field.
Credit Analysts typically must have a high degree of technical competence. The ability to work independently and strong attention to details are required skills.
Work Experience:
Two to five years’ experience working with credit or loan evaluation is required,
Physical Demands:
This position requires manual dexterity, the ability to lift files and open filing cabinets. This position requires bending, stooping or standing as necessary. Must be able to lift up to 10 pounds.