Loan Processor, Reverse Mortgages

CMG Home Loans is hiring a Reverse Loan Processor who is responsible for assisting in the processing of reverse mortgage applications, ensuring all necessary documentation is collected, verified, and submitted in a timely and accurate manner. This role involves working closely with applicants, loan officers, underwriters, and other teams to ensure a smooth and efficient loan origination process.

ESSENTIAL DUTIES and RESPONSIBILITIES, include the following responsibilities, but not limited to:

• Loan Processing & Documentation:

• Process reverse mortgage loans in a manner consistent with company policies, procedures, and all applicable regulatory requirements.
• Obtain and review required loan documentation from borrowers, ensuring completeness and accuracy.
• Submit complete loan packages to underwriting for approval.

• Pipeline Management:

• Manage a pipeline of loans, ensuring timely progression of loans through each stage of the processing cycle.
• Maintain a compliant and efficient flow of loans, meeting deadlines and minimizing delays.

• Communication & Coordination:

• Communicate with loan officers, borrowers, title companies, builders, and agents to gather necessary information and keep all parties informed.
• Provide exceptional customer service through effective communication with internal and external customers, ensuring borrower needs are met.

• Monitoring & Meeting Deadlines:

• Monitor and ensure all loan deadlines, including closing dates, are met in compliance with company and regulatory standards.
• Ensure that all underwriting conditions are addressed and cleared by the underwriter before preparing files for submission to the Closing Department.

• Regulatory Knowledge & Compliance:

• Keep current with changes in industry policies, procedures, standards, and regulations, particularly those related to reverse mortgages.
• Apply local, state, and federal regulations as they pertain to mortgage loan processing.
• Comply with all company policies and procedures and ensure strict adherence to legal and regulatory requirements.

• Closing Preparation:

• Ensure that all necessary documents are verified and obtained before preparing the file for the Closing Department.
• Coordinate closely with the Closing Department to ensure smooth and accurate closing.

QUALIFICATIONS AND EXPERIENCE:

• 4-5 years Reverse Mortgage loan processing experience. Retail processing experience preferred.
• Experience processing HECM and proprietary reverse mortgage products.
• Excellent customer service skills.
• Strong knowledge of mortgage lending laws, policies, and procedures, especially reverse mortgage guidelines.
• Excellent organizational skills and attention to detail.
• Strong written and verbal communication skills.
• Ability to prioritize and work independently with minimal supervision.
• Proficient in Microsoft Office, Word, Excel, Outlook, etc.
• Ability to work in a fast paced fluid environment.
• High level of integrity and confidentiality required.

SUPERVISORY RESPONSIBILITIES:

Direct Reports: None

PHYSICAL and ENVIRONMENTAL CONDITIONS:

This role operates in an ADA compliant office environment, utilizing typical office equipment and tasks including computer work. The position may involve partial stationary positions and moving throughout the day. Flexibility to work overtime to meet project deadlines is required.

COMPENSATION:

Non-Exempt hourly range of $25.00/hour - $30.00/hour plus bonus per closed loan. Factors that affect compensation may include Reverse Mortgage Operations, overall knowledge of mortgage reverse mortgage industry, number of years worked in mortgage industry, computer skills and education.