Senior Residential Loan Review Analyst II

Team Overview:

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 (the 'Bank') eligibility guidelines. Perform an assessment of the Member's operational processes relevant to the pledged collateral. Act as a resource to Members with issues such as answering questions regarding the review process and collateral eligibility.

Position Overview:

Perform all functions related to the evaluation and due diligence process of the loan review of pledged residential mortgage collateral. Property/loan types include one to four family cooperative share loans, home equity, and condominium. Develop and present presentations and provide training as requested.

Essential Responsibilities:

Loan reviews encompass approximately seventy percent of the job function. Some travel to on-site locations is required and will include out-of-state locations.

• Manage as Lead Analyst and participate as Analyst in loan reviews of Members' residential mortgage collateral, ensuring compliance with Bank's Credit and Collateral Policies, Member Services Group's operating standards, procedures and guidelines, and FHFA Regulations and Advisory Bulletins.
• Lead more complex collateral reviews (i.e. Members with large advances, top 20 borrowers, issues with pledging loans or operational issues) on the collateral pledged.
• Perform evaluation of Member collateral using the Bank's approved collateral framework methodology to determine loan review margin. Evaluate and test collateral files to determine conformity and compliance with all regulations and guidance and Bank policy and procedures.
• Prepare summary report of review and recommendation for adjustment to collateral margin. Evaluate financial and credit components of Member's reported financial data.
• Assist with management meetings, preparing review results and recommendations.
• As required, provide presentations to CCRC or other Executives as needed.
• Perform proper and timely follow up to issues identified during the reviews.
• Collaborate with Collateral Valuations and Analysis in solicitation of feedback to improve Members' electronic data submissions. Coordinate efforts to assist Members in improving their data submissions.
• Work with Legal Department in the review, evaluation and analysis of members' purchase, servicing and custodial agreements encumbering pledged collateral to determine impact to eligibility and perfection of interest. Assess information about third party originators, outside servicers and custodians. Support Collateral Services as requested in the review of physically delivered loan files in the Possession Collateral Category
• Complete in distributable format, mortgage industry research and analysis requests by Senior Management.
• Maintain proficiency in the knowledge, expertise and review of Puerto Rico mortgage assets and documentation. Keep abreast of credit guidelines and legal documentation requirements.
• Stay abreast of federal regulations, policies, internal procedures, or other compliance requirements that govern or impact all types of pledged collateral.
• Perform as a member of a Collateral Liquidation Team, if necessary. Manage consultants in the event of liquidation of mortgage collateral, in gathering more information about the targeted assets or in further assessing their value or resolving document deficiencies.

Skills:

Strong written and oral communication skills, organizational and analytical skills, and interpersonal communication skills. PC literacy in Excel, Word, and database applications. Staff and project management experience. Valid State Driver's License required.

Experience:

Five to seven years' experience in a residential lending environment. Experience in the following: loan underwriting, appraisal review, due diligence, loan administration/servicing, regulatory compliance verification and mortgage quality assurance practices. Must have knowledge of real estate related loan documents and lending regulations. CRE lending experience and/or reviewing mortgage documentation in Spanish is a plus.

Education:

Five to seven years' experience in a residential lending environment. Experience in the following: loan underwriting, appraisal review, due diligence, loan administration/servicing, regulatory compliance verification and mortgage quality assurance practices. Must have knowledge of real estate related loan documents and lending regulations. CRE lending experience and/or reviewing mortgage documentation in Spanish is a plus.

Salary: $120,000 to $140,000

The Federal Home Loan Bank of New York is committed to recruit, hire, develop, motivate, promote, retain, and compensate all applicants and employees in a nondiscriminatory manner without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, status as a parent, disability, genetic information, military or veteran status, or any other characteristic protected by applicable law (including title VII of the Civil Rights Act of 1964).