Correspondent Loan Review Analyst
Date ActiveMay 6, 2022 12:00:00 AM
Hours Per Week40
Location200 Executive Blvd South-HF433
Job Description/ Requirements
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!
Support the delivery of a roadmap of new products capabilities, and/or tools to serve our customers' borrowing needs. Understand product features, benefits and positioning as well as company strategy and goals as it relates to mortgage products.
- Review investor bulletins, guidelines, requirements to determine impact to existing products; underwriting, compliance, pricing, sales, post-closing, etc. as well as conduct or coordinate research on market trends, competitive insights, to perform product design
- Create strong partnerships, fostering positive working relationships with key stakeholders such as Secondary Marketing, Sales, Underwriting, Closing, Post-Closing, IT and Servicing, as well as second-line Units such as Risk, Legal and Compliance
- Develop action plans, organize, and lead kick-off meetings for new product offerings
- Submit, test, and review requests for system programming for new products as well as maintaining existing products.
- Test documents submitted for programming to ensure accuracy and compliance
- Work with Legal and Compliance on expansion of lending area and hold meetings with stakeholders to assess implementation needs and impact with the expansion
- Bi-weekly meetings with Credit Risk to discuss updates to guidelines received from investors and competitors to assess risk appetite for the bank
- Monthly meetings with Post-Closing to discuss any issues or investor updates that affect Post-Closing
- Weekly meetings with underwriting manager to discuss any issues or trends affecting the underwriting team
- Track and maintain for audit purposes logs of product changes, guideline changes, approvals, and bulletins
- Act as a liaison for affordable housing initiatives, working with internal task forces and maintaining relationships with state agencies and investors
- Update annually the HELOC kit and disclosures
- Communicate through announcements product changes and investor updates
- Identify, coordinate, and sequence dependencies on other product teams; Help remove impediments for the team
- Assist Correspondent Lending with uploading closed loan files, issuing bulletins, updating guidelines, recertification, onboarding of new correspondents, and clearing conditions
- Assist Quality Control with loan certifications
- Continually monitor competitor initiatives and industry trends through media and other sources to determine
- Act as a liaison with Community Banking to inform them of any lending product updates and learn of any consumer product changes
- Monitor, respond, and maintain email box with questions regarding guideline clarification and issues from underwriting, Credit Risk, Correspondent Lending and Sales.
- 3 -- 5 years of related experience
- Proficiency in Microsoft office
- Understand fundamentals of residential mortgage and consumer lending
- The ideal candidate is an organized, self-motivated, and experienced contributor in both product delivery and technical execution and has a track record of supporting successful product releases
- Effective at working across multiple partner teams to execute initiatives and manage change
- Ability to collaborate, manage, and expand relationships across the organization
- PowerLender experience preferred
- Underwriting experience, a plus
- Ability to multi-task and handle several projects at a time
- Effective communication skills