Senior Residential Loan Review Analyst II

About the Role

The primary purposes of the collateral reviews are to verify the existence of the pledged collateral, determine if the Member’s pledged collateral meets the Federal Home Loan Bank of New York’s eligibility guidelines, perform an assessment of the Member’s operational processes relevant to the pledged collateral, and act as a resource to Members regarding the review process and collateral eligibility.

Responsibilities

• Perform all functions related to the evaluation and due diligence process of the loan review of pledged residential mortgage collateral, including one to four family cooperative share loans, home equity, and condominium properties.
• Develop and present training and presentations as requested.
• Manage and participate as Lead Analyst in loan reviews of Members’ residential mortgage collateral, ensuring compliance with the Bank’s Credit and Collateral Policies, Member Services Group’s operating standards, procedures, guidelines, and FHFA Regulations and Advisory Bulletins.
• Lead more complex collateral reviews (e.g., Members with large advances, top 20 borrowers, or operational issues).
• Evaluate Member collateral using the Bank’s approved collateral framework methodology to determine loan review margin.
• Test collateral files for conformity and compliance with regulations, guidance, and Bank policy.
• Prepare summary reports of reviews and recommendations for collateral margin adjustments.
• Evaluate financial and credit components of Member’s reported financial data.
• Assist with management meetings, preparing review results and recommendations.
• Provide presentations to CCRC or other Executives as needed.
• Perform timely follow-up on issues identified during reviews.
• Collaborate with Collateral Valuations and Analysis to improve Members’ electronic data submissions.
• Coordinate efforts to assist Members in improving their data submissions.
• Work with the Legal Department to review, evaluate, and analyze members’ purchase, servicing, and custodial agreements for eligibility and perfection of interest.
• Assess information about third-party originators, outside servicers, and custodians.
• Support Collateral Services in reviewing physically delivered loan files in the Possession Collateral Category.
• Complete mortgage industry research and analysis requests by Senior Management in a distributable format.
• Maintain proficiency in reviewing Puerto Rico mortgage assets and documentation.
• Stay current on credit guidelines, legal documentation requirements, federal regulations, policies, and internal procedures impacting pledged collateral.
• Serve as a member of a Collateral Liquidation Team, if necessary.
• Manage consultants during liquidation of mortgage collateral to gather information, assess value, or resolve document deficiencies.
• Travel to on-site locations, including out-of-state, is required (loan reviews encompass approximately 70% of the job function).

Requirements

• Five to seven years’ experience in a residential lending environment.
• Experience in loan underwriting, appraisal review, due diligence, loan administration/servicing, regulatory compliance verification, and mortgage quality assurance practices.
• Knowledge of real estate-related loan documents and lending regulations.
• CRE lending experience and/or experience reviewing mortgage documentation in Spanish is a plus.
• Strong written and oral communication, organizational, analytical, and interpersonal skills.
• Proficiency in Excel, Word, and database applications.
• Staff and project management experience.
• Valid State Driver’s License.

Pay

$120,000 to $140,000