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Condo CoOp Project Review Specialist

San Diego, California

Job Description:

Analyze documents and information and make decisions for common interest developments such as condominiums, co-operatives and leasehold estates to assure the project and related documents meet BAC policy and secondary market investor requirements. May also perform workflow coordination, initial file set up/system maintenance and other related support work. Will work with internal sales, fulfillment and other credit risk associates to gather necessary information: may, communicate with external agents of the development or property management companies. Will also update a shared data base with project analysis results and post project status. Refers more complex or out of policy issues to senior specialists and/or managers for final determination.

Job Description and Responsibilities/Additional Information

The Condo/Co-op Specialist will work within the Project Review Office (PRO) within Bank of  America Home Loans.  The candidate will be responsible for completing detailed reviews of Condominium and Cooperative project documentation received from  the Retail, and Private Banking channels which includes, but is not limited to - Appraisals, Budgets and Financial Statements/1120s,  By-Laws, Covenants, Conditions & Restrictions (CC&Rs), Insurance Declarations, Leasehold Agreements, Offering Plans (& Amendments) and Project Questionnaires. Accurate analysis and data entry of key project information in the Condo/Co-op Project databases is required.  Training is provided and goals for success are established for full transparency.

The Condo/Co-op Specialist will consult with internal and external business partners to assist in determining if a project or individual loan requests meet eligible Condo/Co-op classifications and product specifications.  The Condo/co-op Specialist will contact Condo/Co-op Management companies, Developers, Sponsors, and Condo/Co-op Boards to obtain additional information, as required.    In addition, you will communicate project status (approval, suspense, denial) to appropriate individuals and uphold fair lending practices of Bank of America, while meeting targets for productivity, quality and customer satisfaction.

Required Skills

Validated experience or in lieu of experience, a recent college degree to demonstrate abilities in the following areas;

  • Background in Real Estate, Finance/Banking, Legal/Paralegal, Insurance or Research Analyst
  • Follow an end to end process to meet critical deadlines
  • Use judgment within customer satisfaction and risk mitigation framework
  • Ability to work with critical deadlines and turn-time expectations
  • Analytical processes
  • Decision making
  • Critical thinking
  • Attention to detail  
  • Computer/data entry proficiency
  • Excellent written and verbal communication/interpersonal skills.
  • Must have excellent teamwork/success orientation and the ability to work independently in a fast moving environment.
  • Ability to communicate well in difficult situations
  • Ability to adapt and learn in an environment of changing processes, guidelines and systems

Desired skills

  • Knowledge of Bank of America mortgage policies  
  • Condo/co-op project review or related experience
  • Processing or underwriting Condo or Co-op loan transactions
  • Mortgage underwriting
  • Analyzing Corporate tax returns and/or Financial Statements
  • Analyzing appraisals
  • Familiarity with Fannie Mae and Freddie Mac credit policy
  • Experience in the mortgage lending business
  • College degree in related fields such as; Real Estate, Finance/Banking, Legal/Paralegal, Insurance  
  • Helpful additions; certifications or licenses in Real Estate or Real Estate Appraisals

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-20017153

Manages People: No

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Referral Bonus:

Street Address

Primary Location:
9696 Miramar Rd, CA, San Diego, 92126