Residential Loan Analyst

POSITION: Residential Loan Analyst

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. This position is responsible for the processing of residential loans, works both independently and collaborating as a team with assigned Mortgage Loan Originators, Branches, Attorneys, Servicing, other Loan Analysts and Management to ensure a smooth process from application to closing. Additionally, in partnership with Underwriters, the Residential Loan Analyst ensure loans meet guidelines and appropriate conditions are obtained, has thorough knowledge of residential loan products, policies and procedures, and strives to ensure a frictionless customer experience throughout the loan cycle.

Key Result Areas:

* Provide customer centric service experience while working to ensure the customer's financial wellbeing.

* Keep assigned Mortgage Loan Originators and/or Branches informed of the status and conditional requirements of loans.

* Communicate key updates to the customer such as loan decision, condition requirements and loan status. Follow up and review with customers on required underwriting conditions. Sign off on conditions as appropriate.

* Review new mortgage applications and prepare disclosures and reviews for completion and compliance before being sent to the customer. Prepare and send any additional required disclosures throughout the process, as applicable.

* Responsible for managing assigned pipeline of loans ensuring required timelines are met.

* Conducts regularly scheduled pipeline meetings with Mortgage Loan Originators to discuss status of loans and actions to be taken.

* Ensure all compliance requirements are met on every file.

* Order appraisals, order flood certifications, title work, verifications and credit report updates, as required.

* Ensure proper maintenance of Encompass throughout the application process. Including updating all income, asset, credit and collateral information based on documentation received throughout the process.

* Communicate Clear to Close to the Loan Originator, Borrowers, and the Closing Department

* Responsible for loans closing within compliance and required or reasonable time frames. Monitor rate lock expiration dates and purchase and sale for contingency and closing dates to ensure this.

* Be familiar with basic parameters and requirements of all loan products offered.

* Send out all required notification forms such as incomplete notice, commitment letter, adverse action notice, etc.

* Establish and maintain effective working relationships with other employees and customers.

* Contribute to the effective team management of all bank problems, issues and opportunities.

* Perform additional duties as required.

Qualifications:

* High school education.

* 3 years' experience working in a loan processing, closing, servicing or underwriting environment.

* Complete knowledge of mortgage and consumer loan products, preferably CSB products.

* Excellent communication and customer service skills are required.

* Basic understanding of federal and local regulations or ordinances concerning lending activities

* Strong computer and analytical skills, along with attention to detail and organizational skills are critical, and ability to learn new technologies.

* Basic understanding of Secondary market guidelines such as; FNMA, FHLMC and approved Investors

* Ability to communicate effectively in both English and Spanish is preferred, particularly to better serve our client base.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $31.79 - 41.30/hr

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $31.79 - 41.30/hr. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.