Queens Branch-Business Development Department / Residential Loan Associate

Bocusa; New York, Main Street (NY, CA); On-site; USD 42,000 - 90,000; Full time

Job summary

An established industry player seeks a motivated individual to join their lending team. This role involves originating and underwriting residential mortgage loans while ensuring compliance with banking regulations and providing exceptional customer service. You will be instrumental in maintaining strong relationships with clients and assisting with loan operations. If you have a passion for finance and a commitment to excellence, this opportunity allows you to make a significant impact in a dynamic environment. Join a team that values your expertise and offers ample opportunities for professional growth and development.

Qualifications

• Bachelor's degree in relevant fields and 2+ years of residential lending experience required.
• NMLS Certification and bilingual ability in English and Mandarin are essential.

Responsibilities

• Originate and underwrite residential mortgage loans while maintaining customer relationships.
• Ensure compliance with bank policies and conduct consumer compliance risk assessments.

Skills

Credit Underwriting

Residential Lending

Consumer Compliance

Customer Service

Bilingual (English and Mandarin)

Education

Bachelor’s degree in Accounting, Finance, Economics

Tools

Ellie Mae

Laserfiche

Equifax

Job description

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight, and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions, and Global Markets lines of business.

Overview

This position provides loan business, prepares loan analysis, and loan recommendations to meet objectives set by the Branch Manager.

Responsibilities

Business Development:

• Originate and underwrite residential mortgage loans and maintain relationships with customers.
• Meet business objectives in the loan operation set by the department head and Branch Manager.
• Assist customer service representatives to originate new residential loans, Refinance, and Modification Programs.

Credit Control:

• Handle loan business according to all bank policies and procedures, KYC Due Diligence requirements.
• Monitor KRI and report criticized loans if applicable.

Compliance:

• Update Residential Mortgage Lending Procedure as needed.
• Work on CFPB Consumer Metrics impacted by COVID-19 on a monthly basis.
• Work on Compliance and Regulatory reports as needed to LCD periodically.
• Conduct Consumer Compliance Risk Assessment.
• Work and coordinate with BSA on Monthly Compliance Reporting.
• Inform customers of regulatory compliance requirements.
• Coordinate with external and internal examinations to ensure business safety and soundness.

Operation and Post-Lending Customer Service:

• Communicate with OSD and follow up with customers on tax, insurance, annual escrow disclosure statements, year-end escrow statements, escrow accounts, or other post-lending questions or issues due to Work from Home impacted by COVID-19.
• Report necessary documents or reports to Head Office.
• Work with ORD and QCU on third-party vendor reviews and attend ORC meetings.
• Work with vendors of Ellie Mae and Equifax to meet the Bank’s operational risk requirements.
• Participate in loan business activities to ensure the loan operation is safe and sound.
• Help to answer and resolve customer complaints and inquiries.
• Seek unusual and irregular activities and, if any, report to supervisor, BSA Officer, and Branch Manager.
• Assist in completing the distribution of all consumer lending disclosures, review completeness of loan applications, arrange appraisals, order credit reports, review appraisal reports and credit reports, prepare Credit Recommendation Reports, and commitment letters after loan approval. Arrange for closing and the preparation of closing documents.
• Scan loan documentation to Laserfiche.
• Attend necessary business-related training.
• Strictly comply with the BOC Global customer service standard & BOCNY performance evaluation.

Qualifications

• Bachelor’s degree required; major in Accounting, Finance, Economics, or equivalent fields preferred.
• Minimum 2 years of Residential lending experience required.
• NMLS Certification is required.
• Demonstrate knowledge in Credit Underwriting, Personal loan processes, and Consumer compliance.
• Bilingual ability in English and Mandarin required.

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education, and other qualifications.

USD $42,000.00 - USD $90,000.00 /Yr.