Three or more years of active experience underwriting Reverse Mortgages (Retail and/or Wholesale)
Valid active CHUMS Number required
Strong credit, risk analysis, and analytical skills
Familiarity with federal and state regulations, particularly MDA, TILA, HUD, and RESPA
Excellent verbal and written communication skills
Attention to detail and strong organizational skills
Ability to work independently and adapt to changing situations
Responsibilities
Underwrite files and establish conditions to meet FHA and LBF guidelines
Make timely, accurate decisions on FHA transactions
Evaluate risk and ensure quality of loan decisions
Communicate requirements and decisions clearly to relevant parties
Review mortgage loan files for accuracy and compliance
Partner with processing to ensure timely loan closings
Maintain quality control standards while meeting production goals
Benefits
Comprehensive medical, dental, and vision coverage
Flexible Spending Account (FSA) and Health Savings Account (HSA) options
401(k) plan with company match
Generous paid time off policy
Access to a variety of voluntary products and discounts
Opportunity to work in a growing and dynamic industry
Full Job Description
Job Description
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.
Primary Job Duties:
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
Qualifications
Three or more years of current active experience underwriting Reverse Mortgages (Retail and/or Wholesale)
HECM for Purchase experience is a plus
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
Proprietary Reverse Mortgage underwriting experience is a plus
Additional Information
Working in a growing and dynamic industry
Full benefits: Medical, Dental, Vision, FSA/HSA, and wide array of voluntary products and discounts
401(k) with company match
Paid time off
This is a non exempt
Target base salary range is 95-105K which is based on various factors including skills and work experience.
In addition to base salary, this role is eligible for a competitive additional compensation program via monthly production bonus that is based on individual performance.
Please note that salaries that are estimated on various job sites may not reflect the actual compensation. Job sites, set the estimated salary, not Longbridge Financial.
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