Condo Approval Manager

New American Funding

7h•$100,000•Remote

About The Position

The Condo Co-op Approval Manager will be responsible for managing the review, decision of review and submission of Condominium and Co-op Projects for all investors the Project Team is responsible to underwrite for.

Requirements

Demonstrate advanced product knowledge of FHA including Sua and Delrap, Conventional, Non-QM and other loan programs such as Home Equity Lines of Credit, 2nd Mortgages, down payment assistance and bond programs.
Familiar with review of Co-op Audited Financials
Ability to maintain a high level of professionalism, customer service, and communication with all parties involved in the loan cycle.
Proficient with Encompass
Understanding all compliance regulations and investor guidelines.
High school diploma or general education degree (GED); three to five years’ experience in this field of work is preferred.
Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.
To perform this job successfully, an individual should have knowledge of MS Word word-processing software, MS Excel spreadsheet software and Internet Explorer, MS Outlook internet software.
Must be able to verify identity and employment eligibility to work in the U.S.
Must be able to lift up to ten pounds.
Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information.
VISION: See in the normal visual range with or without correction.
HEARING: Hear in the normal audio range with or without correction.

Responsibilities

Create and established corporate policies and procedures, job aids; to ensure that Agency and Investor requirements are met for mortgages sold and delivered secured by units within Condominium Projects for Fannie Mae, Freddie Mac, FHA, VA and various Jumbo Loan and NON-QM investors. Co-op Projects for Fannie Mae -Freddie Mac.
Compliance support, review all ground leases, (even if not a condo or co-op) within the department as well as any affordable housing and other resale deed restrictions, and private transfer fees when OPS needs assistance.
Carry a pipeline when required; Analyze and approve condominium projects for all agencies and investors as overflow.
Manage Condo Approval Team Analysts, create training modules for all products for different investors, including new hire training on internal databases, workflow and process.
Audit monthly 10% of reviews completed by Analysts.
Daily track of service level agreements, close of escrows (COE) and priority dates are being met and able to hold those accountable for their responsibilities.