Sr. Associate Account Management

SCOPE OF WORK FOR SR. ASSOCIATE ACCOUNT MANAGEMENT ROLE

• Loan Application Review & Credit Assessment:

Review and analyze loan applications and supporting documentation including income, credit reports, employment history, and property details. Assess borrower creditworthiness using the 4 C's methodology (Character, Capacity, Capital, Collateral) to ensure sound lending decisions and adherence to underwriting guidelines.

• Income Calculation & Financial Analysis:

Evaluate and calculate borrower income from various sources including salaried, hourly, commission, bonus, rental, and self-employment income. Analyze documents such as paystubs, W-2s, tax returns, and business financials (Schedule C, K-1, 1065, 1120S) to determine qualifying income accurately and consistently.

• Collateral & Property Evaluation:

Review appraisal reports, AVMs, and residential valuation documents to validate property value and ensure compliance with lending guidelines. Analyze title reports, lien positions, and ownership details to mitigate collateral risk.

• Underwriting Decision & Documentation:

Prepare detailed underwriting summaries, identify red flags, and document conditions and stipulations within the Loan Origination System (LOS), preferably Encompass. Recommend appropriate loan structures based on comprehensive risk assessment and borrower profile analysis.

• Workflow Management & Communication:

Collaborate with processors, loan officers, and internal stakeholders throughout the underwriting lifecycle. Provide clear communication on loan decisions, required conditions, and final clear-to-close (CTC) status to facilitate timely loan closing.

• Risk Identification & Compliance:

Identify discrepancies, inconsistencies, and potential risks in loan files. Ensure all underwriting decisions comply with internal policies, regulatory requirements, and investor guidelines to maintain portfolio quality.

• Reporting & Reconciliation:

Handle reconciliation of complex borrower accounts and prepare daily aging and pipeline reports to track loan progress, turnaround times, and performance metrics against departmental KPIs.

• System Utilization & Process Adherence:

Utilize LOS platforms (Encompass preferred) and adhere to underwriting workflows, ensuring accuracy, efficiency, and compliance with company standards and best practices.

• Borrower Communication & Clarification Requests:

Issue clear and professional requests for additional documentation or clarification from borrowers and their representatives. Follow up on outstanding items to maintain loan file completeness and expedite the underwriting process.

• Exception Handling & Escalation:

Identify loans that fall outside standard guidelines and prepare exception reports with supporting analysis. Escalate complex or non-standard situations to management with recommendations for approval or denial.

• Quality Assurance & File Review:

Conduct thorough quality reviews of loan files to ensure completeness, accuracy, and compliance. Identify process improvements and provide feedback to team members to enhance overall departmental performance.

• Regulatory Compliance & Audit Readiness:

Maintain current knowledge of federal and state lending regulations, including TRID, ECOA, FHA, VA, and USDA guidelines. Ensure all underwriting decisions and documentation are audit-ready and compliant with regulatory examinations.

• Loan Product Knowledge & Guideline Updates:

Stay current with evolving loan products, investor guidelines, and underwriting standards. Communicate guideline changes to team members and implement updates to underwriting procedures promptly.

• Mentoring & Knowledge Sharing:

As a senior-level associate, mentor junior underwriting staff and processors on best practices, complex underwriting scenarios, and policy interpretations to foster team development and consistency.

Function: Customer Service
Experience Level: Not Applicable