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Loan Processor - New York City

Mortgage Processors and Production Assistants: The grass really IS greener at The Federal Savings Bank (“TFSB”)!  Here's why:

At The Federal Savings Bank doing good for customers, allows us to do well for our families. Our organization thrives when we fulfill our purpose. At TFSB, the senior loan processing role is known as the "Underwriting Analyst".  As an Underwriting Analyst, you are a vital piece of a loan manufacturing process that helps people achieve their dreams of home ownership. The ideal candidate is a self-starter with proven experience in all aspects of residential mortgage processing and sound decision making ability. This position requires working in either our Queens or Brooklyn, NY offices.

What We Offer:

  • Competitive salary plus monthly bonus incentive
  • Generous Vacation days and sick days 
  • Robust Health, Dental, and Vision insurance and 401k match 
  • Company provided life insurance
  • Ongoing in-house training opportunities to broaden your industry knowledge
  • Employee recognition on a national scale; you are more than "just a number" 
  • A work family that is genuinely invested in your happiness and success
  • Smooth onboarding experience 
  • Career advancement - we promote from within!

Duties and Responsibilities:

The Underwriting Analyst’s primary goal is to have a first-time approval from Underwriting with minimal conditions.

  • Daily utilization of "Encompass" loan origination systems and automated underwriting systems "DU/LP"
  • Set and maintain proper expectations with all parties on the loan file
  • Analyze package for completeness to ensure loan file meets investor guidelines
  • Analyze credit, income, asset and collateral documents and submit files to underwriting
  • Clear loan conditions and communicate effectively with Sales, Processing and Underwriting team
  • Collaborate with Closing Processing Analysts to review & analyze title for all requirements and address issues, insurance coverage for mortgagee
  • Maintain loan file compliance while managing pipeline as various volume levels
  • Work effectively under specific time constraints and meet end-of-month deadlines
  • Assist in the seamless transition of new Mortgage Bankers and operations employees to our model
  • Complete Bank's customer service training and apply to everyday communications with borrowers and mortgage bankers  

It is the responsibility of the Underwriting Analyst to review, analyze, and submit loan documents to Underwriting based on agency, investor, and company guidelines with a focus on efficiency and quality. 

Job Requirements:

  • High school diploma required
  • 3 + years recent Residential Mortgage Processing experience required
  • Recent Correspondent Lending experience strongly preferred
  • Knowledge of agency loan programs, investor loan programs, and underwriting criteria for government and conventional offerings
  • Experience processing FHA & VA loans strongly preferred
  • Experience managing a pipeline of 30+ Purchase or Refinance loans
  • Proficiency with Encompass loan origination software 
  • Ability to calculate income, including self-employed
  • Excellent Interpersonal, Communication, and Time Management Skills
  • Ability to operate effectively & efficiently in high-pressure situations 
  • Ability to work well in a team environment, a team-player
  • All applicants must be flexible with their schedules, as they may be required to work after-hours, especially during peak volume periods 

 

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The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status
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