Requisition Number: COLLA01781
The Collateral Review Analyst will make decisions on collateral as a function of the company’s due diligence, as it pertains to risk exposure on residential real estate. The Collateral Analyst will ensure that the Company receives regulatory-compliant appraisal and evaluations that are in compliance with corporate policy and standards, Uniform Standards of Professional Appraisal Practice (USPAP), secondary market guidelines and document the results.
The Collateral Review Analyst will also be responsible for reviewing existing condo projects within Fannie Mae, Freddie Mac, VA and HUD guidelines and issuing the warranty for each project as well as gathering all information needed to submit new construction projects to Fannie Mae for approval. Conduct reviews of appraisals and other valuation products, by approving or declining the reports. This will include Owner occupied or Tenant Occupied, Single Family, Condos and PUD units.
The ideal candidate for this position is detail-oriented and organized, an effective communicator and independent worker, and has experience reviewing and warranting condo projects.
DUTIES AND RESPONSIBILITIES:
- Conduct reviews of appraisals and other valuation products, by approving or declining the reports. This will include Owner occupied or Tenant Occupied, Single Family, Condos and PUD units
- Communicate with Operations/Underwriting to obtain clarification and additional supporting explanations and/or data as deemed necessary.
- Analyzes the reasonableness of the appraisals to confirm reported value is supported for financing purposes while evaluating report completion methodology.
- Maintain daily and monthly goals set by Sr. Management.
- Escalate any quality or service issues to Sr. Management.
- Perform other responsibilities as directed by the Team Leader or other Sr. management.
- Adheres to company/agency policies and procedures and complies with legal and regulatory requirements including appraisal industry’s concepts and practices
- Collateral Underwriter (CU) experience/knowledge a plus
- Review existing condo projects according to Fannie/Freddie/FHA and VA guidelines
- Assist in gathering all information needed to submit new construction projects to CPM for approval
- Issue warranties for condo projects
- Use Fannie CPM and submit for PEW
- Work with VA for condo projects approvals
- Knowledge of HUD DELRAP condo approvals a plus
- 5 years of recent appraisal review and/or underwriting experience
- Knowledge of real property, terms, types of ownership in real estate, deeds, mortgages, etc.
- Real Estate Appraisal Analysis experience preferred.
- Capable of completing evaluation analysis of residential properties
- Ability to recognize deficiencies in appraisals and evaluation reports.
- Proficiency with Microsoft Word, Excel, Access, PowerPoint, and Outlook.
- Knowledge of lending operations and/or appraisal department policies and procedures.
- Can work effectively in a team environment but also a self-starter able to work independently
- Effectively manage multiple deadlines and projects
- Good Oral and Written Communications skills
- Good Analytical/Math skills
- Ability to work with a sense of urgency
- Familiar with secondary market collateral guidelines
EDUCATION AND EXPERIENCE:
- Associate's Degree preferred (concentration in Business, Real Estate or Finance) or 5 years equivalent years of experience in lieu of degree
CERTIFICATIONS, LICENSES, AND/OR REGISTRATION REQUIREMENTS
PHYSICAL DEMANDS AND WORK ENVIRONMENT
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and use hands to handle, touch or feel objects, tools, or controls. The employee frequently is required to talk and hear. The noise level in the work environment is usually moderate. The employee is occasionally required to stand; walk; reach with hands and arms. The employee is rarely required to stoop, kneel, crouch, or crawl. The employee must regularly lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, color vision, and the ability to adjust focus.
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.