Reverse Processor

New American Funding

20h•$30•Remote

About The Position

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.

Requirements

Three or more years' experience working as a Reverse Mortgage Processor or in an equivalent role
Experience with Reverse Vision LOS
Three or more years’ experience with HECM & FHA Guidelines
Must be able to verify identity and employment eligibility to work in the U.S.

Nice To Haves

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

Responsibilities

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