Job Information
Cambridge Savings Bank Residential Appraisal Manager in Waltham, Massachusetts
POSITION: Residential Appraisal Manager
Summary:
At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity and inclusion. The Residential Appraisal Manager is responsible for all functions related to analyzing and evaluating appraisals to meet Interagency Appraisal and Evaluation Guidelines. Ensures compliance with regulatory requirements and bank policies is crucial. The Residential Appraisal Manager oversees the Appraisal Reconsideration of Value (ROV) process and communicates the results to customers.
Key Result Areas:
Compare, analyze and bring to conclusion complex data within the appraisal to ensure accuracy, compliance, value and marketability support.
Underwrites all conventional appraisals per Fannie Mae, Freddie Mac, Investor and Portfolio guidelines. Minimum standard of 6-8 appraisals per day with a turn time of 24 hours.
In-depth residential appraisal reviews for value, marketability, & program eligibility for mortgages and equities.
Review appraisal reports to ensure adherence to regulatory requirements, and internal policies to confirm that the appraisal adheres to industry and quality control standards.
Analyze Fannie Mae Collateral Underwriter and Freddie Mac Loan Collateral Advisor messages and comparable listings to address and resolve any discrepancies.
Analyze Appraisal Scorecard findings to address and resolve any discrepancies.
Request, review and approve applicable appraisal revisions while maintaining Appraisal Independence Requirements (AIR).
Review appraisals against condo questionnaire, title commitment, flood cert, and purchase & sales agreement for accuracy.
Manage Appraisal Reconsideration of Value process to ensure timely and accurate completion in accordance with bank policy and procedure.
Maintain strong relationships with bank approved appraisers. Ensure prompt delivery of appraisals, appraisal revisions and appraisal ROV requests. Responsible for resolving appraiser quality control issues.
Strong organizational and accuracy skills with the ability to work independently in a fast-paced team environment.
Perform additional duties as required.
Qualifications:
Minimum 5 years appraisal underwriting experience; appraiser experience preferred.
Knowledge of federal and local regulations or ordinances concerning lending activities such as Appraisal Independence Requirements (AIR).
Experience with the Fannie Mae Collateral Underwriter and Freddie Mac Loan Collateral Advisor tools.
Ability to work efficiently to meet productivity standards while maintaining excellent quality.
Thorough knowledge of Agency and Investor lending guidelines with ability to quickly adopt changes in guidelines.
Excellent interpersonal, organizational, prioritization, time management, as well as written and verbal communication skills.
Experience using Encompass Loan Origination System (LOS) preferred.
Proficiency in Microsoft Windows Environment to include Outlook, Word, and Excel.
Location:
Hybrid/Waltham, Massachusetts
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com , or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370
Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.
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