While this is not a frontline Underwriter position, the position of Reverse Underwriter Escalation, Exception Desk, requires the abilities to underwriter residential loans ensuring compliance with appropriate company, agency, secondary market investor standards, and all applicable laws. Examines loan documentation for accuracy and completeness. Communicates with Underwriting Management, Underwriters, Operations, and Sales (Retail and Wholesale) for files submitted through the Escalation, and Exception process.
Primary Job Duties:
- Review files which have been underwritten where an escalation or exception has been requested.
- Review and clear underwriting conditions for credit and Appraisal related items.
- Support the Underwriting department as needed in various functions related to Financial Assessment, and Appraisal analysis.
- Ability to make timely, accurate decisions.
- Evaluate risk and ensure quality of loan decisions.
- Communicate requirements and/or decisions clearly.
- Responsible for reviewing all areas of the mortgage loan file to ensure accuracy, completeness, and compliance with internal and regulatory guidelines, including but not limited to Application, Title, Appraisal, Assets, Credit, Condominium information, CC&Rs, income documentation and tax returns.
- Responsible for clear and concise communication to appropriate parties including but not limited to the processing department on items needed to prepare a loan for closing.
- Partner with Operations to close loans in a timely in efficient manner
- Adhere to service level agreements and prioritize workflow
- Maintain quality control standards while maintaining production standards by company's definition
- Assist in identifying, recommending, and/or negotiating alternative loan documentation requirements
Required Experience:
- Three or more years of current active experience underwriting FHA Reverse Mortgages (Retail and/or Wholesale)
- The ideal candidate will have proven experience dealing with resolving escalation / exceptions files
- HECM for Purchase experience, must have a valid active CHUMS Number
- Strong credit, risk analysis, and analytical skills
- Working knowledge of federal and state regulations and requirements with emphasis on MDA, TILA, HUD and RESPA reform.
- SharePoint
- Understands the loan flow process including file structure, and documentation requirements.
- Strong verbal and written communication skills, along with attention to detail, with strong organizational and interpersonal skills.
- Works well with a wide range of people, work under pressure with a focus on deadlines, and adapt to changing situations daily, while using creative thinking to find solutions to problems
- Possess the ability to meet and exceed service level agreements
- Competent risk-assessment skills
- Ability to multi-task and excellent time-management skills
- Must be able to work independently with minimal supervision in a team environment
- Familiar with HUD underwriting guidelines and documentation, mortgage legal documentation,
- 3rd party risk assessment products and Federal/ State/Local compliance regulations
- Proprietary Reverse Mortgage underwriting experience is a plus
- Full benefits
- 401(k) with company match
- Paid time off
- Working in a growing and dynamic industry
Please note that salaries that are estimated on various job sites may not reflect the actual compensations. Job sites, set the estimated salary, not Longbridge Financial.
