Reverse Mortgage Loan Underwriting Specialist

6 days ago


Henderson, Nevada, United States SummitHR Full time
Job Description

The Reverse Mortgage HECM Underwriter position plays a crucial role in ensuring the accuracy and completeness of residential loan documentation, adhering to company guidelines, secondary market investor standards, and applicable laws. This involves reviewing loan applications and associated documents to guarantee thoroughness and adherence to HECM policies and procedures.

Key Responsibilities:

  • Follow established protocols to receive and review loan applications and associated documentation to ensure accuracy and compliance with HECM guidelines.
  • Maintain acceptable turnaround times for initial decisions and condition reviews, aligning with departmental expectations.
  • Collaborate with Quality Control, Compliance, and Funding teams to resolve issues, evaluate risks, and address compliance concerns.
  • Develop and maintain expertise in HECM product guidelines offered by the company, as well as risk assessment tools.
  • Rework loans to new terms, identify additional conditions as necessary to ensure a viable credit decision.
  • Assess borrower profiles, including income documentation, tax returns, credit reports, preliminary reports, judgments, bankruptcy documents, and appraisals, ensuring all necessary documentation is requested to support final loan decisions.
  • Demonstrate proficiency in manual underwriting policies and procedures.
  • Stay updated on secondary market activity, practices, and industry trends impacting underwriting quality and origination activity.
  • Foster effective relationships with loan originators, management, and processors.
  • Demonstrate experience with MS Office products.
Requirements
  • At least 3 years of experience in residential loan underwriting.
  • DE certification and recent FHA underwriting experience are highly preferred.
  • Solid understanding of FHA/HECM policies and procedures.
  • Familiarity with various fraud tools.
  • Experience working in a fast-paced environment with changing demands.
  • Ability to manage relationships with internal and external partners effectively.
  • Prior mortgage processing experience is desirable.
  • Demonstrated experience with repurchase responses, rebuttal review preparation, and reporting.
Work Environment

This position is primarily remote, requiring access to a quiet workspace at home and reliable internet connectivity.

Local travel may be required for company or career-related meetings, programs, and events.



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