Condo Conditions Specialist
About The Position
The Condo Conditions Specialist is responsible for reviewing condominium projects and individual condo unit transactions to ensure compliance with agency, investor, and Company guidelines. This role evaluates condominium project documentation, borrower eligibility, collateral risk, insurance coverage, and legal documentation in accordance with current Fannie Mae, Freddie Mac, and FHA Single Unit Approvals (SUA) eligibility requirements. The Condo Conditions Specialist works closely with production, processing, closing, secondary marketing, and quality control teams to support accurate and timely loan decisions while maintaining compliance and risk standards.
Requirements
- At least 3 years’ experience in the mortgage industry required
- High school diploma, or equivalent education and experience
- Working knowledge of RESPA
- Basic underwriting, processor, and closing knowledge and terminology
- Demonstrates success in a fast-paced, high-stakes environment
- Aptitude for maintaining professional relationships with coworkers
- Highly motivated, ambitious, and driven to succeed
- Trustworthy, honest, and able to display a high-level of integrity
- Ability to identify and resolve issues in a timely manner
- Ability to understand and respond appropriately to basic inquiries
- Ability to read, write, and communicate sufficiently to perform job functions
- Ability to use Company equipment in assigned areas (including but not limited to telephone, copiers, fax machines, computers, internet, etc.)
- Ability to access, input retrieve, and interpret information using applicable computer systems
- Ability to multi-task (e.g., simultaneous usage of several applications, etc.)
- Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements are required. Employees must complete annual training in these areas.
Nice To Haves
- College degree preferred or experience in the mortgage industry
- Knowledge of Encompass software strongly preferred
Responsibilities
- Review condominium projects for eligibility under agency and investor guidelines
- Analyze project documentation including condo questionnaires, budget and financial statements, master insurance policies, documentation such as HOA and litigation, reserve studies, special assessments, owner occupancy ratios, and commercial space allocations
- Determine project eligibility for: limited/full, CPM/project, detached condo, and established/new project classification reviews
- Review and validate borrower loan files as they relate to condominium eligibility and collateral acceptability
- Maintain current knowledge of agency updates, lender bulletins, and condominium project policy changes
- Assist with internal audits, post-closing reviews, and investor due diligence requests
- Meet established service quality standards and productivity goals
Benefits
- Paid Time Off (PTO)
- paid holidays
- health, dental, and vision insurance with additional voluntary coverages available
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
