Mortgage Underwriter

Altisource

10d•Remote

About The Position

Altisource is seeking an experienced HECM (Home Equity Conversion Mortgage) Underwriter to support our growing reverse mortgage origination platform. In this role, you will be responsible for underwriting FHA-insured reverse mortgage loans, ensuring compliance with HUD guidelines, investor requirements, and internal credit and operational standards. The ideal candidate will possess strong knowledge of HECM underwriting, property eligibility requirements, income and financial assessment analysis, and quality control processes necessary for successful loan delivery and insurability.

Requirements

Minimum 3+ years of mortgage underwriting experience, with direct HECM/reverse mortgage underwriting experience strongly preferred.
Strong working knowledge of FHA HECM underwriting guidelines, HUD regulations, and reverse mortgage program requirements.
Experience performing financial assessments and residual income analyses for reverse mortgage borrowers.
Proficiency reviewing and interpreting: FHA Connection HERMIT® or equivalent reverse mortgage origination systems, ReverseVision (RV Exchange) or similar HECM platforms, Automated valuation and appraisal review tools
Knowledge of: HUD Mortgagee Letters, FHA property eligibility requirements, Title and vesting review, Trust and Power of Attorney documentation, Non-borrowing spouse requirements, Life expectancy set-asides (LESA)
Ability to identify and mitigate underwriting risk while maintaining compliance with FHA insurability standards.
Strong understanding of mortgage fraud prevention, compliance controls, and quality assurance processes.
Excellent written and verbal communication skills with the ability to clearly articulate underwriting decisions and conditions.
Strong organizational skills and ability to manage a high-volume pipeline while maintaining quality and service standards.
High attention to detail, sound judgment, and a compliance-focused mindset.

Nice To Haves

DE Underwriter designation or FHA underwriting experience.
Prior experience underwriting proprietary reverse mortgage products within the past 6 months
Experience in a delegated underwriting environment.
Familiarity with secondary market delivery requirements and investor overlays.
Previous experience supporting high-volume mortgage fulfillment operations.

Responsibilities

Review, analyze, and underwrite HECM loan files in accordance with HUD, FHA, investor, and company underwriting guidelines.
Complete comprehensive financial assessments, including income, assets, liabilities, residual income calculations, and property charge evaluations.
Evaluate borrower eligibility, occupancy requirements, and counseling compliance requirements for reverse mortgages.
Review appraisals and collateral documentation to ensure property eligibility and compliance with FHA and investor standards.
Analyze title commitments, property ownership structures, trusts, life estates, and other vesting scenarios commonly associated with HECM transactions.
Identify and clearly communicate underwriting conditions, documentation deficiencies, and risk factors to processing teams, Client Relationship Managers, and loan originators.
Ensure loans meet FHA insurability requirements and investor salability standards while maintaining established productivity and service-level expectations.
Maintain thorough and accurate loan documentation to support regulatory compliance, audit readiness, and quality assurance requirements.
Interpret and apply HUD Mortgagee Letters, FHA policy updates, and investor overlays to underwriting decisions.
Collaborate with fulfillment, processing, closing, and quality control teams to facilitate efficient loan closings and exceptional client service.
Support post-underwriting reviews, loan audits, and quality control initiatives as needed.
Maintain current knowledge of reverse mortgage regulations, FHA/HUD requirements, and industry best practices.