Condo Processor

Fairway Independent Mortgage Corporation

1d•Remote

About The Position

The Condo Processor plays a vital role in the loan approval pipeline by gathering and performing initial assessments of project documentation. You will ensure the Condo Department has all the necessary data to determine project warrantability while acting as a central communication hub between internal teams and external partners. Evaluate conforming, Jumbo, and NonQM loan files. Provide recommendations to the branch about a project's warrantability and, if not warrantable, to assist in determining any non-warrantable options that might be available. Review loan files to identify condominium properties requiring project approval or review. Communicate with HOAs, property management companies, title companies, and insurance agents to obtain required documents. Collect, analyze, and validate condo project documentation (e.g., HOA questionnaires, budgets, insurance, bylaws, and CCR's). Identify potential red flags (e.g., litigation, high investor concentration, inadequate reserves), and escalate as needed. Submit condo packages for internal condo approval. Track and manage a pipeline of condo approvals to ensure timely closing. Maintain accurate records and update the loan origination system with status notes and documentation. Provide status updates to loan processors, underwriters, loan officers, and closing teams. Ensure all deadlines and SLAs are met to avoid delays in closing.

Requirements

3+ years of experience in a condo processing role
Demonstrated experience working with Encompass
Demonstrated experience processing Conforming, Jumbo, and NonQM residential mortgage loans

Responsibilities

Gathering and performing initial assessments of project documentation
Ensure the Condo Department has all the necessary data to determine project warrantability
Act as a central communication hub between internal teams and external partners
Evaluate conforming, Jumbo, and NonQM loan files
Provide recommendations to the branch about a project's warrantability and, if not warrantable, to assist in determining any non-warrantable options that might be available
Review loan files to identify condominium properties requiring project approval or review
Communicate with HOAs, property management companies, title companies, and insurance agents to obtain required documents
Collect, analyze, and validate condo project documentation (e.g., HOA questionnaires, budgets, insurance, bylaws, and CCR's)
Identify potential red flags (e.g., litigation, high investor concentration, inadequate reserves), and escalate as needed
Submit condo packages for internal condo approval
Track and manage a pipeline of condo approvals to ensure timely closing
Maintain accurate records and update the loan origination system with status notes and documentation
Provide status updates to loan processors, underwriters, loan officers, and closing teams
Ensure all deadlines and SLAs are met to avoid delays in closing