Mortgage Product Analyst
Prosperity Home Mortgage, LLC is one of the nations largest and most respected mortgage lenders. We provide a wide array of products, programs and services throughout the home financing process. PHM is looking for a Mortgage Product Analyst to work in the Chantilly, VA location.
Under the general supervision of the Senior Manager of Product and Credit Policy, the Mortgage Product Analyst understands the Secondary Market and advises the business channels on the breadth of available mortgage products for Conventional, FHA, VA, and Jumbo loans. S/He is responsible for evaluating potential mortgage products and delivering a comprehensive assessment based on existing products. S/He will also work closely with the Senior Manager of Product and Credit Policy and other key management to maintain PHM's credit policy and continually assess the product needs of a full-service, purchase oriented mortgage bank.
- Advises business channels of the current mortgage products in the market and their related sources
- Understands market needs and assesses products based on the needs
- Reviews and writes product guidelines for internal use and reference throughout the company
- Tracks investor guideline changes
- Notifies appropriate team members of product change impacts to the loan origination system and the product pricing engine
- Performs system testing to confirm product guideline changes successfully implemented in the product pricing engine
Mortgage Product Analyst – Bond and Down payment Assistance programs
- Need to have some knowledge of Agency guidelines
- Need to have excellent communication skills for interacting with the various Agencies and understanding the intricate details
- Need to be able to respond on scenario questions pertaining to the various programs
- Need strong attention to detail and be organized
- Bachelor's Degree and/or equivalent work experience required
- A minimum of five years' experience in a full-service mortgage bank with a minimum of two years' experience in a bank with Fannie Mae (FNMA), Freddie Mac (FHLMC) and/or Ginnie Mae (GNMA) approvals
- Familiarity with FNMA, FHLMC, and GNMA guidelines is required
- Familiarity with Mortgage Insurance guidelines and providers is required
- Ability to use Microsoft Office applications, especially MS Word, is required
- Experience with training team members on new product offerings is a plus
- Experience composing internal and/or external product guidelines is a plus
- Experience with state specific bond and down payment assistance (DPA/DAP) programs is a plus
- Detail oriented
- Effective written and verbal communication skills
- Ability to work independently and as part of a team
- Ability to develop and maintain a good report with internal and external customers
- Familiarity with the Encompass Loan Origination System
We are a company that provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
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