Originations, Team Leader

New York State Housing Finance Agency•New York, NY

6d•Hybrid

About The Position

To support the Originations Manager in the training and supervision of Loan Analyst performing the review of closed loan files submitted by SONYMA participating lenders for purchase and the review of loan submissions.

Requirements

5+ years successful experience in mortgage lending;
Familiarity of New York State real estate contracts and closing documentation;
Ability to work effectively under pressure.
Organizational skills to manage multiple responsibilities simultaneously;
Ability to work independently with minimal supervision;
Proficient in MS Excel and MS Word;
Excellent verbal and written communication skills; and
Strong analytical skills and attention to detail.

Responsibilities

Provide subject matter expertise for program guidelines and documentation requirements.
Assist in the training and ongoing mentoring of Originations Loan Analysts per the Agency’s guidelines and review of post-closed loan packages received from Participant Lender(s) in the Single-Family programs.
Provide policy guidance and program updates to Business Development Officers for the training of Participating Lenders, pursuant to Agency guidelines to support increased Lender efficiency and accuracy in delivery of complete loan file submissions.
Perform quality control (QC) of all loans approved for purchase, to ensure accuracy and provide feedback to Loan Analyst(s) of findings for correction.
Perform secondary review of income to verify pre-closing and post-closing compliance with household income guidelines.
Perform quarterly and annual testing of internal controls as it pertains to Originations unit functionality, report areas of discrepancies to immediate supervisor. Review of closed loan files for approval in accordance with SONYMA guidelines, and IRS regulations.
Assist in supervising the daily workflow of a team of Originations Loan Analysts; and coordinate activities to ensure timely review of loan files and meeting agency time frames.
Monitor daily follow-up of un-reviewed and pended reports with team members.
Monitor daily reports submitted by team members.
Perform pre-closing and post-closing analysis of loan files for compliance with federal tax law and Agency procedures, policies, and guidelines.
Provide feedback to newly onboarded lenders regarding loan documentation required and data integrity.
Once file is reviewed, notify lender of decision (Approved, Suspended, or Declined) and of conditions, as applicable
Update status of loan file and other relevant information in SONYMA’s computer system.
Prepare and send appropriate communication of loan status to lender.
Review Pay History and Loan Purchase Advice for accuracy and completion. Prepare loan file for purchase by the Loan Purchase department.
Correspond and communicate daily with Participating Lenders.
Conduct review of post-closing loan files for TRID, and other Federal & State regulations.
Perform regular follow up on suspended files. Contact lenders for documentation requested until receipt of same. Once received, process the file accordingly.
Track and compile summaries of all newly onboarded SONYMA Express® lender’s noting omissions and conditions required.
Daily, complete the Loan Reviewer Daily Production Report, indicating the number of loan files or documents for suspended loan files which were received for review, reviewed, pending review, review decision, list outstanding tasks & date received/assigned, and lender rating for loan quality of submission.
Assist Loan Analysts and Lenders as needed or assigned to.
Assist with Internal Control reviews, as needed or assigned to.
Log in to the 800-room automated call distribution system during all assigned hours to take incoming calls from the public. Assist with questions/provide requested information to callers as needed.
Complete required annual professional training and other trainings as required.
Assist with any special projects and other reasonable functions or duties as may be designated or assigned.

Benefits

Extensive benefits package including paid leave, including excellent health, dental, vision and retirement benefits [https://www.osc.state.ny.us/retirement] with the New York State & Local Employees’ Retirement System.
Promotional opportunity for dedicated professionals
Work life balance benefits including a 37.5 hour work week and paid time off benefits including, vacation, sick, personal days, and Federal Holidays
Opportunity for compressed scheduling
12 weeks of Paid Parental Leave
Paid Family Leave
Opportunity for compressed/flextime scheduling
As a New York State employee, you may qualify to participate in the Federal Public Service Loan Forgiveness Program [https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service] (PSLF). The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under an accepted repayment plan [https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service#qualifying-repayment-plans] and while working full-time for an eligible [https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service#qualifying-employment] employer
Cash in for Wellness! This program provides you with the option of buying or renewing a health club membership of your choice or enrolling in a weight loss and or smoking cessation program, using your sick leave accruals.
Tuition reimbursement program – for job related and non-job related courses
Vacation Leave Buy-Back program – Subject to approval, every year eligible employees may exchange previously earned and accrued vacation time in return for cash compensation (at employee’s daily rate of pay at time of exchange)
Access to Plum Benefits – savings on movie tickets, theme parks, hotels, tours, Broadway shows and more!
Optical reimbursement program – Employees are eligible for optical, hearing aid, and podiatric expenses not otherwise covered by insurance, with a maximum aggregate amount of $675 per year, per family. Unused yearly balances may be carried over to the next year for a maximum of $1350