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Working As a Mortgage Analyst

  • Getting Information
  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Analyzing Data or Information
  • Making Decisions and Solving Problems
  • Mostly Sitting

  • $66,000

    Average Salary

What Does A Mortgage Analyst Do At Perl Mortgage

* quoting interest rates and fees; taking loan applications; and creating, sending and explaining compliance disclosures.
* The Mortgage Analyst will also provide event and marketing support and other duties such as: database management, setting appointments, and assisting buyers and referral partners as needed under the direction of Loan Officers and CMS management.
* Candidates for this position MUST be eligible for licensing as a Residential Mortgage Loan Originator under the National Mortgage License System.
* Duties and Responsibilities:
* Assist Loan Officer(s) in developing and maintaining relationships with borrowers, realtors, builders, financial planners, and other referral sources
* Meet with borrowers when requested to collect and analyze their information regarding income, assets, investments and/or debt in order to advise borrowers regarding different and detailed loan programs
* Assist in evaluating possible loan scenarios and determine which financial products meet the borrower s unique needs and financial situation.
* Ensure that all necessary disclosures (state, federal, and company specific) are provided to client as required
* Liaison with processing department to obtain documentation necessary for loan approval
* Provide continuing counsel and customer service to borrower throughout the entire loan process
* Comprehend all functions of a real estate transaction in order to advise borrower regarding the same
* Comprehend financial markets and stay informed of changes relevant to the mortgage industry, including local housing trends, markets and interest rates Requirements
* Minimum of two years LOA, Jr.
* Loan Officer, or five years of processing experience required
* Bilingual (Spanish)
* Ability to work independently with minimum supervision
* Must be a team-player
* Strong PC skills; must be able to complete data entry with exceptional accuracy
* Excellent written and verbal communication skills
* Solid attention to detail
* Must be proactive and reliable
* Ability to multitask and effectively manage time
* Participate in proactive team efforts to achieve departmental and company goals
* Promote a positive team work environment through the sharing of knowledge and skills
* Comply with all safety policies, practices, and procedures Benefits Benefits include; full medical, dental, and vision coverage; short&long term disability benefits; vacation and sick time off; and 401K retirement with match.
* Associated topics: bahasa, bengali, court translator, dari, fluent, japanese english, pashto, persian, spanish

What Does A Mortgage Analyst Do At Cit

* Processing jumbo loan files, verifying accuracy of documents received and reviewing loan files, to ensure all documents are received and correct
* Able to determine income for salaried borrowers and basic knowledge of self-employed borrowers
* Determining which documentation is needed to complete the loan files.
* Calling borrowers, real estate brokers, and title companies to request specified documents, such as receipt for payment of outstanding tax bill
* Contacting outside vendors and requesting necessary documents
* Determining appropriate course of contact-phone, fax, e-mail, written request, etc.
* Calling borrower, broker and other specified individuals to provide status updates and arrange time and date for closing.
* Handling customer inquiries, providing information regarding missing documents and loan status.
* Keeping up to date of all policies and procedures

What Does A Mortgage Analyst Do At Caliber Home Loans

* Reviews submission package for all required documents
* Audits critical docs for State and Federal compliance
* Completes all data entry required for submission to Underwriting
* Communicates with internal originators and business partners regardingdiscrepancies and missing documentation
* Generates, reviews and releases initial disclosures to the borrower
* Maintains company turnaround times
* This position is considered a non-loan originator position, this meansparticipants may not engage in activities of a loan originator, including:communicating directly with borrowers about credit qualification or loan terms,including pricing concessions or other transaction-specific terms orconditions

What Does A Mortgage Analyst Do At Fifth Third Bank

* Manage 275 FCL cases, initiation through acquisition, including FHLMC, FNMA, FHA/VA&Private Investors with a total financial exposure of $25M
* Follow up on all FCL actions monthly to ensure investor guidelines and monthly status requirements are met to prevent fines&reduce errors found during investor audits
* Analyze&manage FCL timeline performance to ensure that no more than 10% of monthly case-load is past standard to eliminate monetary penalties up to $100
* per day for each day past standard
* Identify contested FCL and code in order to ensure the proper reporting of delays to investors to reduce potential fines.
* Ensure that all cases in which Fifth Third Bank has exposure are escalated to management&In-house legal
* Ensure FCLs have clear&marketable title throughout the FCL process to eliminate the potential financial exposure for charge-offs
* Work closely with other default personnel (including BKR, loss mitigation, and REO) to ensure a seamless transition for loan accounts which move from one area of responsibility to another, for cross training purposes,&to assist other areas due tochanges in workload and staffing
* Complete financial analysis for FCL sale bids, judgments required by the court, reinstatement&payoff requests made by the borrower&attorney
* Examine FCL related expense as they pertain to investor guidelines up to $3,500 per FCL and up to $10M/yr
* Review collateral/partial lien releases&gather all necessary information (valuation, proposed compensation,&parcel legal descriptions, etc.) for release of collateral, analyze the proposal for its economic impact on the beneficiary of the loan&make recommendation to management
* Analyze the valuation of the property (BPO or appraisal), the marketability of the property, any claims possible against third parties (PMI claim, repurchase or recourse options on the note, hazard insurance, etc.)&any other relevant factors todetermine the bid amount
* Coordinate with the Property Preservation/Collateral department to secure&protect the interest of the service on vacant properties to reduce the potential for fines imposed by investors or city ordinances
* Prepare bid instructions for sheriff sales no later then 7 days prior to sale to reduce the potential of missing a sale&losing collateral
* Ensure the accurate&timely referral to BKR&Post Sale areas as they move through the process to prevent delays&the potential for monetary loss or exposure
* Working knowledge of mortgage banking, familiarity with RESPA, FFDCPA, GLBA, FFIEC&federal and state laws related to legal FCL&BKR proceedings
* Work with&develop a strong working relationship with network of Bank Appointed&Designated Counsels
* Provide mentoring to new staff members, assist in special projects&other duties as assigned
* SUPERVISORY RESPONSIBILITIES: None
* MINIMUM KNOWLEDGE

What Does A Mortgage Analyst Do At Hub International

* Review and input insurance documentation in proprietary loan-insurance tracking system Accurately complete all assigned tasks and/or additional tasks if needed Analyze and process a multitude of client and program related reports Identify and report areas of needed process improvement to immediate supervisor Maintain a monthly assessment average of 90% or better Maintain minimum monthly average of Quality Assurance Action Sheet inquiries, based on dept standard Maintain accurate training materials, to ensure adherence to all policies and procedures May be required to train/act as backup to Customer Service, answering overflow phone calls and requests for expertise, as needed, to ensure 95% service level is met each day Contact insurance companies to confirm insurance coverage and request additional documentation Initiate and sustain communication with clients and employees, as needed, to maintain accurate information in insurance tracking system Maintain necessary relationship with clients and employees to ensure quality customer service standards are met Maintain a working knowledge, grow expertise in mortgage insurance and lending Other job responsibilities as assigned by management
* MINIMUM KNOWLEDGE

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Mortgage Analyst Career Paths

Mortgage Analyst
Underwriter Senior Underwriter
Underwriting Manager
8 Yearsyrs
Underwriter Account Manager Vice President
Vice President And Manager
10 Yearsyrs
Underwriter Team Leader Branch Manager
Manager, Assistant Vice President
7 Yearsyrs
Mortgage Underwriter Senior Underwriter Assistant Vice President
Commercial Lending Vice President
11 Yearsyrs
Mortgage Underwriter Senior Loan Processor
Processing Manager
7 Yearsyrs
Mortgage Underwriter Senior Loan Processor Account Manager
Relationship Manager
6 Yearsyrs
Account Executive Manager Property Manager
Asset Manager
7 Yearsyrs
Account Executive Consultant Senior Finance Analyst
Manager, Finance Analysis
8 Yearsyrs
Account Executive Branch Manager Vice President And Manager
Vice President Operation Manager
10 Yearsyrs
Analyst Manager Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Analyst Manager Branch Manager
Business Development Officer
7 Yearsyrs
Analyst Project Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Business Analyst Senior Finance Analyst Chief Finance Officer
Chief Administrative Officer
11 Yearsyrs
Business Analyst Account Manager Relationship Manager
Business Relationship Manager
9 Yearsyrs
Business Analyst Project Manager Operations Director
Assistant Vice President Operations
8 Yearsyrs
Team Leader Customer Service Manager Collections Manager
Credit And Collection Manager
7 Yearsyrs
Team Leader Director Senior Vice President
Chief Risk Officer
9 Yearsyrs
Consumer Loan Underwriter Senior Credit Analyst Portfolio Manager
Investments Manager
6 Yearsyrs
Consumer Loan Underwriter Senior Underwriter
Lending Services Manager
8 Yearsyrs
Mortgage Consultant Staff Accountant Fund Accountant
Client Account Manager
6 Yearsyrs
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Average Length of Employment
Underwriter 3.6 years
Credit Analyst 2.9 years
Mortgage Processor 2.7 years
Loan Coordinator 2.6 years
Loan Analyst 2.4 years
Mortgage Banker 2.4 years
Negotiator 2.4 years
Loan Auditor 2.2 years
Junior Underwriter 2.2 years
Mortgage Analyst 2.0 years
Loan Reviewer 1.9 years
Mortgage Assistant 1.9 years
Top Careers Before Mortgage Analyst
Internship 4.7%
Analyst 3.8%
Top Careers After Mortgage Analyst
Underwriter 12.8%
Analyst 4.6%
Consultant 4.2%

Do you work as a Mortgage Analyst?

Average Yearly Salary
$66,000
Show Salaries
$41,000
Min 10%
$66,000
Median 50%
$66,000
Median 50%
$66,000
Median 50%
$66,000
Median 50%
$66,000
Median 50%
$66,000
Median 50%
$66,000
Median 50%
$107,000
Max 90%
Best Paying Company
JPMorgan Chase
Highest Paying City
Livermore, CA
Highest Paying State
Alaska
Avg Experience Level
2.0 years
How much does a Mortgage Analyst make at top companies?
The national average salary for a Mortgage Analyst in the United States is $66,952 per year or $32 per hour. Those in the bottom 10 percent make under $41,000 a year, and the top 10 percent make over $107,000.

Real Mortgage Analyst Salaries

Job Title Company Location Start Date Salary
Analyst, Commercial Mortgage-Backed Securities D. E. Shaw & Co., L.P. New York, NY Oct 01, 2012 $175,000
Mortgage Analyst Pine River Capital Management LP New York, NY Oct 02, 2013 $170,000
Mortgage Analyst Pine River Capital Management LP New York, NY May 16, 2011 $136,989 -
$150,000
Senior Mortgage Analyst Radian Guaranty, Inc. Philadelphia, PA Sep 14, 2010 $82,576
Mortgage Valuation Analyst II Federal Home Loan Bank of Atlanta Atlanta, GA Oct 01, 2012 $70,000 -
$90,000
Secondary Mortgage Analyst Technology Credit Union San Jose, CA Aug 24, 2012 $65,100 -
$100,900
Mortgage Valuation Analyst Federal Home Loan Bank of Atlanta Atlanta, GA Jul 25, 2013 $64,022 -
$104,250
Senior Mortgage Analyst MCM Capital Partners, LLLP Bethesda, MD Jan 09, 2016 $57,000 -
$67,000

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Top Skills for A Mortgage Analyst

  1. Financial Statements
  2. Ensure Compliance
  3. Loan Portfolio
You can check out examples of real life uses of top skills on resumes here:
  • Reviewed applicant's credit history, analyzed financial statements and federal income tax returns to determine applicant's overall financial condition.
  • Conducted audit of sensitive loan portfolios and business processes to ensure compliance with laws/regulations.
  • Monitored performance of assigned loan portfolio to ensure preservation of loan underwriting requirements.
  • Analyzed mortgage foreclosure documentation in order to evaluate statutory and regulatory compliance related actions taken against borrowers in bankruptcy protection
  • Reviewed initial home mortgage loan applications for credit worthiness and entered customer and financial information in company database for underwriting department.

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Top 10 Best States for Mortgage Analysts

  1. Nebraska
  2. New York
  3. Utah
  4. Oregon
  5. North Dakota
  6. Minnesota
  7. California
  8. Washington
  9. North Carolina
  10. Michigan
  • (75 jobs)
  • (718 jobs)
  • (102 jobs)
  • (116 jobs)
  • (20 jobs)
  • (239 jobs)
  • (1,455 jobs)
  • (217 jobs)
  • (316 jobs)
  • (228 jobs)

Mortgage Analyst Demographics

Gender

Male

47.4%

Female

42.8%

Unknown

9.8%
Ethnicity

White

61.8%

Hispanic or Latino

13.6%

Black or African American

12.8%

Asian

8.2%

Unknown

3.7%
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Foreign Languages Spoken

Spanish

35.7%

Russian

9.5%

Chinese

7.1%

Cantonese

7.1%

Ukrainian

4.8%

French

4.8%

Portuguese

2.4%

Filipino

2.4%

German

2.4%

Mandarin

2.4%

Japanese

2.4%

Greek

2.4%

Tagalog

2.4%

Somali

2.4%

Polish

2.4%

Korean

2.4%

Tamil

2.4%

Arabic

2.4%

Thai

2.4%
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Mortgage Analyst Education

Schools

University of Phoenix

13.5%

University of Denver

8.5%

University of North Texas

7.8%

Pennsylvania State University

6.4%

New York University

5.7%

Strayer University

5.0%

University of North Carolina at Greensboro

4.3%

University of Cincinnati

4.3%

Temple University

4.3%

Regis University

4.3%

University of North Carolina at Charlotte

4.3%

University of Northern Colorado

3.5%

Ohio University -

3.5%

Robert Morris University

3.5%

Michigan State University

3.5%

Texas A&M University

3.5%

Southern Methodist University

3.5%

University of Maryland - University College

3.5%

Southern New Hampshire University

3.5%

Sinclair Community College

3.5%
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Majors

Business

39.1%

Finance

14.8%

Accounting

7.2%

Management

3.6%

Economics

3.6%

Psychology

3.3%

Marketing

3.3%

Real Estate

3.0%

Communication

2.5%

Political Science

2.4%

Law

2.4%

Human Resources Management

2.2%

Criminal Justice

2.1%

English

1.8%

International Business

1.5%

Computer Science

1.5%

Business Economics

1.5%

Nursing

1.3%

Legal Support Services

1.3%

Information Technology

1.3%
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Degrees

Bachelors

45.3%

Other

20.4%

Masters

19.0%

Associate

7.9%

Certificate

3.6%

Doctorate

2.1%

Diploma

1.1%

License

0.6%
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Updated May 19, 2020