Originations, Team Leader

Possible Hybrid Workplace Opportunity

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.

A Civil Service exam is not required for this position. Candidates must meet the minimum qualifications outlined below to be considered.

NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce which represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.

The State of New York Mortgage Agency (SONYMA) is one of several HCR agencies. SONYMA’s programs provide mortgage financing to assist low- to moderate-income, first-time homebuyers in the purchase of a one-to-four-unit residences that are required to meet eligibility criteria established by the Agency and by applicable Federal law. This position will report to the Single Family Programs unit of SONYMA. The Single Family unit reports to HCR’s Homeownership and Community Development

Position Summary:

To support the AVP/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.

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.

Other Responsibilities:

• 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.

Requirements/Qualifications:

The requirements listed below are representative of the knowledge, skill, and/or ability required for this position: 

• 5 years successful experience in mortgage lending;
• Familiarity of New York State real estate contracts and closing documentation;  and 
• 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.

What we offer:

• Exciting opportunity to be part of New York’s resurgence to greatness
• Extensive benefits package including paid leave, excellent health, dental, vision and retirement benefits
• Promotional opportunity for dedicated professionals