Under the supervision of the Director of Operations, Processes reverse mortgage loans in accordance with established policies and procedures and appropriate guidelines; provides strong communication and support to underwriting, loan advisors, and clients to clear conditions as needed.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Reviews loans in process daily and determines what is needed to process loans quickly.
Performs document and processing system audit to ensure information integrity
Manages a pipeline of 40 to 50 loans per month
Funds a minimum of 15 loans per month
Signs off on Tier 1 underwriting conditions
Process HECM refinance transactions
Review loans to ensure loan/property meets FHA and Investor guidelines
Enters data from new loan applications and other documents into computer system
Reviews credit reports, appraisals, flood certifications and preliminary title reports.
Provides follow-up on a consistent basis with clients and loan advisors during the loan processing period
Analyzes loan files and submits completed loans for approval to underwriting
Responds to inquiries from clients, advisors and vendor partners regarding status of loans in process
Ensures regulatory compliance
Processes approval and denial letters
Maintains status of all files in process and updates as needed; keeps abreast of all FHA and Investor guidelines and changes that may affect loan status
To perform this job successfully, an individual must have the following education and/or experience:
High School Diploma, GED or Military equivalent
Two or more years within the mortgage industry
Two or more years as a Loan Processor
Thorough working knowledge of real estate documentation, policies, compliance and procedures
High level of proficiency with mortgage loan processing and underwriting systems
Proficient in Microsoft Office (Word, Excel and Outlook).
Analyze statistical and financial data
Proficient on computer programs required for position
Good judgment with the ability to make timely and sound decisions
Demonstrated ability to calculate figures and amounts such as discounts, interest, commissions, and percentages
Training / Licensing Requirements:
Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.