Collateral Review-Condo/Co-op Specialist

Job Description

Emporium TPO has been named a Top Workplace three years in a row in the 2024, 2025, & 2026 Scotsman Guide!

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Emporium is a wholesale origination platform that is dedicated to servicing professional mortgage brokers and non-delegated correspondent lenders. Our aspirations at Emporium are simple: build a team of talented individuals with shared values who think and behave like owners, create a culture that is focused on exceptional customer service, and deliver quality products and returns to stakeholders. Come join us!

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Role Summary:

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The Collateral Review Underwriter – Condo/Co-op Specialist plays a key role within the Collateral team, focusing on the analysis and approval of condominium and co-op projects to ensure compliance with Agency, investor, and internal guidelines. They will conduct comprehensive reviews of project documentation, identify risk factors, and collaborate with underwriters, account managers, and external stakeholders.

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Responsibilities:

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• Analyze and determine the eligibility of condominium and co-op projects based on investor and agency guidelines (Fannie Mae, Freddie Mac, FHA, VA, Jumbo).
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• Conduct thorough reviews of key project documentation, including:
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• Condo/co-op questionnaires
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• Audited financials or corporate tax returns
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• Budgets, reserve studies, insurance policies
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• Recorded legal documents (e.g., CC&Rs, bylaws, ground leases, litigation disclosures)
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• Utilize internal systems to assess eligibility and manage project data.
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• Evaluate and approve condo and co-op projects working with our investors.
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• Identify potential red flags or risk indicators such as litigation, resale restrictions, or deferred maintenance concerns.
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• Communicate clearly with internal stakeholders regarding project eligibility, outstanding items, and potential risks.
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• Prepare detailed summaries of project reviews and maintain accurate records within internal databases and the LOS.
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• Enter relevant data into condo/co-op databases and ensure compliance with all internal documentation standards.
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• Collaborate with HOAs, management companies, title companies, and AMCs to resolve documentation discrepancies or obtain additional project information.
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• Stay current with investor, agency, and regulatory changes to condo/co-op guidelines (Fannie Mae, Freddie Mac, FHA, VA, AIR, USPAP).
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• Provide guidance and clarification to underwriters and operations teams on condo/co-op project requirements and approval standards.
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• Assist in maintaining policies and procedures for all aspects of collateral.
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• Assist in training team members on condo/co-op review policies and procedures.
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• Support underwriters by identifying and articulating project-related collateral risks.
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• Conduct comprehensive collateral reviews with consideration for property type, condition, and market trends.
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• Provide recommendations and feedback on reconsiderations of value and appraisal-related conditions tied to condo/co-op projects.
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Requirements:

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• 5+ years of experience in real estate appraisal, underwriting, or condo/co-op project analysis.
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• Deep working knowledge of Fannie Mae, Freddie Mac, FHA, VA, and Jumbo investor condo/co-op guidelines.
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• Experience with Condo Project Manager (CPM), Condo Project Advisor, and AUS systems.
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• Proficient in analyzing legal documents, financial statements, insurance policies, reserve studies, and HOA documentation.
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• USPAP certification required; Appraiser license preferred.
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• Strong analytical and risk assessment skills with a sharp attention to detail.
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• Excellent written and verbal communication skills.
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• Highly organized with the ability to meet deadlines and manage multiple priorities in a fast-paced environment.
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• Proficiency with LOS platforms such as Encompass ICE, and Microsoft Office Suite.
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• Familiarity with California SB 326, Florida SB 154 and NYC Local Law 11 and other jurisdiction-specific requirements is a plus.
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• Flexibility to adapt to changing priorities.
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Why Join Us?

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We’re committed to creating an environment where our team can thrive, both professionally and personally. Here’s what you can expect when you join our organization:

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Comprehensive Benefits from Day One

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• A range of medical, dental, and vision plan options to meet your needs
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• Company-paid life insurance, short-term, and long-term disability coverage
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• Access to an Employee Assistance Program offering confidential support for personal, work-life, and everyday needs
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Work-Life Integration That Works

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• 9 company-recognized holidays, plus your birthday off
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• 2 floating holidays for added flexibility
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• Generous PTO and sick time
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• Paid time off to vote
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• Paid parental leave and bereavement leave
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Growth & Development

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• Ongoing learning opportunities, from technical skills to leadership development
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• Tuition reimbursement to support your continued education
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• A collaborative culture that prioritizes internal growth and career mobility
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Financial Well-Being

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• 401(k) plan to help you plan confidently for the future
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Culture & Connection

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• Team-building events, company outings, and virtual gatherings that foster connection
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• A workplace that values collaboration, recognition, and a sense of belonging
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Emporium is an equal opportunity employer. At Emporium, we are committed to treating all Applicants and Associates fairly based on their abilities, achievements, and experience without regard to race, national origin, sex, age, disability, veteran status, sexual orientation, gender identity, or any other classification protected by law.

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Please Note: This position is being managed directly by our internal recruiting team. We are not accepting unsolicited resumes or candidate submissions from recruiting agencies, staffing firms, or third-party recruiters.