Reverse Mortgage Underwriter - Remote
Content & Writing
Excel
WFA Digital Insight
The demand for skilled mortgage underwriters has skyrocketed, with a 25% increase in job postings over the past year. As the baby boomer generation ages, the need for reverse mortgage specialists is on the rise. Longbridge Financial, a leading provider of home equity solutions, is seeking a talented Reverse Mortgage Underwriter to join their team. With a strong emphasis on risk analysis and attention to detail, this role requires a unique blend of technical skills and industry knowledge. Candidates should be well-versed in FHA guidelines and have a solid understanding of the loan flow process. Before applying, it's essential to review the company's commitment to excellence and customer satisfaction, with an 'Excellent' rating on Trustpilot and over a thousand customer testimonials.
Job Description
About the Role
The Reverse Mortgage Underwriter position at Longbridge Financial is a critical component of the company's mission to provide home equity solutions for seniors. As a key member of the underwriting team, you will be responsible for analyzing loan risks and ensuring compliance with FHA guidelines. This role requires a high level of attention to detail, strong analytical skills, and the ability to make timely, accurate decisions. The underwriting team at Longbridge Financial is committed to providing exceptional service and support to loan originators, branch managers, and processors. As a Reverse Mortgage Underwriter, you will be working closely with these teams to secure all required documents and establish conditions to meet FHA and LBF guidelines. Longbridge Financial is dedicated to helping seniors unlock the power of their home equity, and the Reverse Mortgage Underwriter plays a vital role in this process.What You Will Do
- Underwrite residential loans to ensure compliance with company, secondary market investor standards, and all applicable laws
- Examine loan documentation for accuracy and completeness
- Partner with loan originators, branch managers, and processors to secure all required documents
- Establish conditions to meet FHA and LBF guidelines
- Evaluate risk and ensure quality of each loan decision
- Communicate requirements and/or decisions clearly to all parties involved
- Review all areas of the mortgage loan file to ensure accuracy, completeness, and compliance with internal and regulatory guidelines
- Maintain quality control standards while meeting production standards
- Assist in identifying, recommending, and/or negotiating alternative loan documentation requirements
What We Are Looking For
- Three or more years of current active experience underwriting Reverse Mortgages (Retail and/or Wholesale)
- HECM for Purchase experience is a plus
- 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
Nice to Have
- Proprietary Reverse Mortgage underwriting experience
- Familiarity with HUD underwriting guidelines and documentation, mortgage legal documentation, 3rd party risk assessment products, and Federal/State/Local compliance regulations
- Experience working in a growing and dynamic industry
Benefits and Perks
- Full benefits, including medical, dental, vision, FSA/HSA, and a wide array of voluntary products and discounts
- 401(k) with company match
- Paid time off
- Competitive additional compensation program via monthly production bonus
- Opportunity to work with a leading provider of home equity solutions for seniors
- Collaborative and dynamic work environment
- Professional development and growth opportunities
How to Stand Out
- Be prepared to provide specific examples of your experience with reverse mortgage underwriting and risk analysis.
- Familiarize yourself with Longbridge Financial's commitment to excellence and customer satisfaction, and be ready to discuss how you can contribute to this mission.
- Make sure your resume and cover letter are tailored to the role, highlighting your technical skills and industry knowledge.
- Practice your communication skills, as clear and concise communication is essential for this role.
- Research the company's culture and values, and be prepared to discuss how you align with these principles.
- Be prepared to discuss your experience with FHA guidelines and the loan flow process, and how you stay up-to-date with industry developments and regulatory changes.
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