Loan Purchasing Specialist II

Salary Range: $55,000.00 To $58,000.00 Annually

The Loan Purchasing Specialist is responsible for reviewing mortgage loan files submitted by participating lenders to determine eligibility for purchase by Housing New Mexico |MFA. The loan purchasing specialist will conduct a comprehensive review of loan documents to ensure compliance with agency guidelines, investor requirements, program policies, and applicable federal and state regulations. The position requires sound judgement in approving, suspending, or declining loans for purchase;

while maintaining production standards and delivering excellent customer service to internal and external partners.

The intent of this job description is to provide a representative summary of the major duties and responsibilities performed by incumbents of this job. Employees may be requested to perform job-related tasks other than those specifically presented in this description.

• Review mortgage loan files to determine eligibility for purchase by Housing New Mexico.
• Verify compliance with program guidelines, underwriting requirements, investor guidelines, and applicable federal and state regulations.
• Review underwriting findings and closing documents for completeness and accuracy.
• Ensure compliance with first-time homebuyer, income, purchase price, and program eligibility requirements, where applicable.
• Identify deficiencies, document findings, and communicate required corrections to participating lenders.
• Maintain accurate documentation of purchase decisions and support analysis.
• Create wire requests to accounting department for loan principal, interest and other costs to the participating lender for loans to be purchased.
• Monitor pipeline status to ensure timely loan purchases and meet established service-level standards.
• Interpret and apply Housing New Mexico policies, investor guidelines and regulatory requirements consistently,
• Participate in quality control initiatives and assist with internal and external audits.
• Recommend process improvements to enhance efficiency, compliance and customer service.
• Maintain confidentiality of borrower information in accordance with privacy laws.
• Identify and elevate denied files to upper management for a second review.
• Change status of loan to approved, suspended or denied.
• Pull daily report for loans available to purchase.
• Pull daily report for loans available to pool.
• Review and approve daily TBA Rate Lock Confirmations.
• Interact with accounting department to ensure payments are created, approved, and sent in a timely manner
• Employees are required to comply with safety regulations, procedures, and protocols.
• Ensure timely purchase decisions within agency service standards.
• Demonstrate sound judgment and consistency in purchase determinations.
• Provide responsive and professional service to participating lenders.
• Perform other various duties as assigned.

• Bachelor’s degree in Finance, Business Administration, Accounting, or a related field preferred. Seven years’ experience will be accepted in lieu of education
• Five years’ experience in mortgage underwriting, post-closing, quality control, loan purchase, origination, processing, or mortgage operations experience.
• Desk top underwriting or Loan Prospector experience is preferred.
• Knowledge of HFA’s and specifically Housing New Mexico programs preferred. .
• Strong understanding of mortgage loan documentation, underwriting guidelines, and investor requirements.
• Knowledge of federal, state, and local housing programs is helpful.
• Underwriting experience is required.

N/A

• The ability to analyze tax returns. .
• Proficiency with Microsoft Office (Excel, Word, Outlook) and document management systems.
• Strong organizational skills and attention to detail are required.
• Excellent analytical and decision-making skills.
• Ability to manage multiple priorities while meeting production and quality expectations.
• Basic knowledge of mortgage underwriting processes and practices is preferred.
• Detail oriented
• Ability to troubleshoot and solve problems.
• Ability to keep accurate…