Mortgage Analyst

Bangor Savings Bank | Bangor, ME

Posted Date 4/16/2019
Description

Mortgage Analyst

FUNCTION: Working under the direction and guidelines established by the Mortgage Fulfillment Manager, the Mortgage Analyst assumes responsibility for fulfilling all mortgage loan applications, disclosing all regulatory documentation, and preparing applicable closing documents. Partners with the Client Service Coordinators and other Mortgage Operations staff to ensure that loan file close according to contract obligations and customer expectations.

Assists in ensuring that the Bank is in compliance with secondary market standards, as well as, all bank and regulatory requirements. Completes risk management and performance measurement tasks assigned by management in a timely manner. Adheres to Critical Staffing Plan when necessary to ensure that all departmental service level agreements are met.

ACCOUNTABILITIES:

Operations/Process:

Mortgage Analyst I

  • Coordinates/orders all required third party services, credit reports, title searches, flood certifications, etc.
  • Requests all manual verifications including but not limited to employment, transcripts, BSB account information, etc.
  • Communicate expectations with the assigned attorney to close loans accurately within the standard established timeframes meeting all legal requirements.
  • Evaluates updates/changes to regulatory requirements and secondary market guidelines and informs the department of such changes and the impact on the department.
  • Process Pre-Qualification Denials.

Mortgage Analyst II

Meets all accountabilities of level one with the following additional accountabilities:

  • Reviews Purchase and Sales agreement, as well as, all data obtained by Mortgage Development Officer to ensure accurate completion of Loan Estimate and all related application disclosures.
  • Works collaboratively with Mortgage Development and Operations staff during the loan originations process to identify required change circumstance for timely and appropriate re-disclosure.
  • Coordinates and reviews all fees and invoices for a compliant closing disclosure in order to meet expected closing date.
  • Prepare and deliver closing packages with required documentation for specific loan types.
  • Completes all monetary transactions associated with loan closing, denial or withdrawn loan files including balancing and funding closings, processing and reconciling general ledger entries.

Mortgage Analyst III

Meets all accountabilities of level one and two with the following additional accountabilities:

  • Logs, tracks, and prepares documentation for withdrawn and denied applications for HMDA reporting purposes, as well as, internal processing of these applications.
  • Proactively communicates and coordinates the receipt, review and acceptance title work, homeowners, flood, and condo insurance in accordance with secondary market and Bank requirements.
  • Establishes required escrow information associated with taxes and insurance ensuring smooth transition to Loan Servicing.
  • Reviews and accepts transcripts for compliance with customer disclosed information and/or notify assigned underwriter of any discrepancies for resolution.
  • Communicates expectations to Attorneys to ensure our service level agreements and expectations are adhered to.
  • Collaborates with Mortgage Originations leadership to find efficiency within the process and assist with the development of ideas and process improvements.
  • Writes and maintains all procedures for the department.
  • Assists Mortgage Originations Leadership to implement new processes.

Compliance and Control:

  • Assists in ensuring that the Bank is in compliance with local, state and federal regulations
  • Assists in ensuring that the Bank meets Secondary Market standards

General:

  • Maintains flexibility with both work duties and assigned scheduling.
  • Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork
  • Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook
  • Performs additional duties as requested

Competencies:

  • Adaptability/Flexibility – Adapts to change, is open to new ideas, takes on new challenges, handles pressure, adjusts plans to meet changing needs
  • Initiative – Takes independent action, operates as a pro-active self starter, acts on opportunities, practices self development
  • Integrity/Ethics – Deals with others in a straightforward, honest manner, is accountable for actions, maintains confidentiality, supports company values, conveys news good or bad
  • Interpersonal Skills – Has good listening skills
  • Vision/Values – Supports company mission/values through daily actions and decisions, communicates the Bank’s vision, mission and values to others, incorporates vision when planning

Knowledge/Skills/Experience Requirements:

Mortgage Analyst I

  • High school diploma or equivalent required. College, business or banking professional training/experience preferred.
  • Knowledge of basic banking/mortgage concepts with 1-2 years financial industry
  • Strong ability to multi-task in a fast-paced environment with defined deadlines

Mortgage Analyst II

  • High school diploma or equivalent required. 2 year College, business or banking professional training/experience preferred.
  • 2-3 years banking experience with focused in mortgage lending regulations, processes and secondary market requirements.
  • 2-3 years of experience in outbound customer service communication with proven ability to assist customer/vendor in meeting requirements
  • Basic knowledge of accounting principles
  • Strong ability to multi-task in a fast-paced environment with defined deadlines

Mortgage Analyst III

  • 2 year College, business or banking professional training/experience required unless banking experience exceeds 5 years.
  • 3-5 years banking experience with focused in mortgage lending regulations, underwriting, processes and secondary market requirements.
  • 2-3 years of experience in outbound customer service communication with proven ability to assist customer/vendor in meeting requirements
  • Basic knowledge of accounting principles
  • Strong ability to multi-task in a fast-paced environment with defined deadlines

Physical Demands/Conditions Requirements:

  • General office environment.
  • Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.

Equipment Used:

  • General office equipment.
External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis
Geographic Region
Midcoast
Industry
Banking

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