Reverse Processor

Position: Reverse Processor

Location: U.S. Remote- must be able to work PST hours (9am - 6pm PST)

Pay: up to $30/hr + Bonuses.

The Reverse Processor collaborates with all parties involved in the Reverse Mortgage transaction, including the customer, loan originator, underwriter, funder, and third-party partners, to ensure the loan progresses smoothly through closing. This role involves conducting financial assessments for all prospective mortgagors on Reverse Mortgage loans, including purchase, refinance, and traditional transactions. Maintaining consistent communication and delivering a high level of customer service to all parties throughout the process is essential for success in this position.

1. Review Reverse Mortgage loan application files to ensure all required documentation is complete and meets established guidelines.
2. Recommend denial of loans that do not meet program standards.
3. Maintain strong knowledge of the reverse mortgage process and guidelines for all HECM/Proprietary loan types, including refinance, traditional, and purchase transactions.
4. Analyze financial assessment results to determine borrower eligibility and qualification for a reverse mortgage.
5. Review loan application documents and verify credit, income, assets, and property information.
6. Evaluate extenuating circumstances and compensating factors.
7. Perform moderately complex income calculations.
8. Respond to customer inquiries, resolve issues, and communicate concerns with the loan originator.
9. Submit completed loan files for underwriting approval.
10. Maintain (at a minimum) a weekly update to the loan originator and customer regarding status of the loan.
11. Partner closely with the loan originator to ensure a timely and accurate experience for customers throughout the mortgage process.
12. Schedule and track closing dates, contingency deadlines, and loan lock expirations.
13. Submit approved mortgage loan files to Mortgage Loan Closer for settlement

Qualifications:

1. Three or more years' experience working as a Reverse Mortgage Processor or in an equivalent role
2. Experience with Reverse Vision LOS
3. Three or more years’ experience with HECM & FHA Guidelines

Desired Education/Experience:

1. Three or more years' experience working as a Reverse Mortgage Processor or in an equivalent role
2. High School Diploma or equivalent

Work Authorization: Must be able to verify identity and employment eligibility to work in the U.S.

Other Duties: This job profile is not intended to be an all-inclusive list of job duties and responsibilities, as one may perform additional related duties as assigned in order to meet the needs of the organization.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift up to ten pounds. Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information. VISION: See in the normal visual range with or without correction. HEARING: Hear in the normal audio range with or without correction.

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