Reverse Mortgage Underwriter

Longbridge Financial•Paramus, NJ

2d•$95 - $105

About The Position

The Underwriter position underwrites residential loans ensuring compliance with appropriate company, secondary market Investor standards, and all applicable laws. Examines loan documentation for accuracy and completeness. Partners with Loan Originators, Branch Managers and Processors to secure all required documents.

Requirements

Three or more years of current active experience underwriting Reverse Mortgages (Retail and/or Wholesale)
Must have a valid active CHUMS Number
Strong credit, risk analysis, and analytical skills
Working knowledge of federal and state regulations and requirements with emphasis on MDA, TILA, HUD and RESPA reform.
Understands the loan flow process including file structure, and documentation requirements.
Strong verbal and written communication skills
Attention to detail, with strong organizational and interpersonal skills.
Ability to work well with a wide range of people, work under pressure with a focus on deadlines, and adapt to changing situations daily
Ability to use creative thinking to find solutions to problems
Ability to meet and exceed service level agreements
Competent risk-assessment skills
Ability to multi-task
Excellent time-management skills
Ability to work independently with minimal supervision in a team environment
Familiar with HUD underwriting guidelines and documentation, mortgage legal documentation, 3rd party risk assessment products and Federal/ State/Local compliance regulations

Nice To Haves

HECM for Purchase experience is a plus
Proprietary Reverse Mortgage underwriting experience is a plus

Responsibilities

Responsible for underwriting files and establishing conditions to meet FHA and LBF guidelines.
Ability to make timely, accurate decisions on all FHA transactions
Evaluate risk and ensure quality of each loan decision
Communicate requirements and/or decisions clearly
Responsible for reviewing all areas of the mortgage loan file to ensure accuracy, completeness, and compliance with internal and regulatory guidelines, including but not limited to Application, Title, Appraisal, Assets, Credit, Condominium information, and income.
Responsible for clear and concise communication to appropriate parties including but not limited to the processing department on items needed to prepare a loan for closing.
Partner with processing to close loans in a timely in efficient manner
Adhere to service level agreements and prioritize workflow
Maintain quality control standards while maintaining production standards by company's definition
Assist in identifying, recommending, and/or negotiating alternative loan documentation requirements