Reverse Loan Processor

This is a fully remote position, open to applicants in New York.

📋 Description

• Evaluate and assess borrowers’ credit, employment history, income, and assets prior to underwriting submission.

• Organize complete loan packages in the correct order for underwriting review.

• Confirm the necessary documentation and carry out pre-underwriting file assessments.

• Complete loan checklists thoroughly.

• Ensure the accuracy and completeness of applications while identifying potential underwriting concerns.

• Prepare loan approval summaries and the necessary Forms 1008 and 1003.

• Liaise with Loan Originators, clients, and Underwriters to gather required documentation.

• Review loans for adherence to mortgage-related regulations and prepare mandatory disclosures.

• Acquire property surveys, flood certificates, title commitments, and payoff details from external parties.

• Validate vendor orders, invoices, and applicant E-file documentation.

• Oversee the loan pipeline and submit reports within established turnaround times.

• Provide assistance with loan setup processes.

• Document communications related to loan applications in the conversation log.

• Train and assist in supervising new Loan Processors and other processing staff.

• Support closing, secondary marketing, and loan servicing teams in resolving investor suspense items.

• Deliver exceptional customer service throughout the loan process.

⛳️ Requirements

• High School Diploma or equivalent qualification.

• At least 2 years of reverse mortgage processing experience.

• Proficiency with Encompass software.

• Familiarity with RESPA regulations.

• General understanding of mortgage and consumer lending regulations, including Regulation Z and Regulation B requirements, as well as loan documentation.

• Knowledge of DU, LP, Microsoft Office, and Windows operating systems.

• Strong mathematical and analytical skills.

• Excellent verbal and written communication abilities.

• Superior prioritization and time management skills.

• Willingness to work varied hours and overtime as necessary.

🏝️ Benefits

• Competitive compensation package.

• Medical insurance coverage.

• Dental insurance coverage.

• Vision insurance coverage.

• 401(k) retirement plan.

• Company-sponsored short-term disability insurance.

• Employee assistance program.

• Wellness program.

• Comprehensive benefits package.

• Opportunities for career development supported by a culture of employee growth.