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Reverse Mortgage Processor

Reverse Mortgage Loan Processors: Your quest for the perfect processing opportunity stops here! The Federal Savings Bank (“TFSB”) is actively searching for experienced mortgage loan processing professionals to support our National HECM Division. This position is remote! At TFSB, the senior reverse mortgage processing role is known as the "HECM Underwriting Analyst".  The HECM Underwriting Analyst’s primary goal is to have a first-time approval from Underwriting with minimal conditions.

What We Offer:

  • "Last in, First out" hiring practices are NOT applied at TFSB!  Your job is secure!
  • Generous time off - We will honor pre-planned vacation time for new hires!
  • Work/Life balance with remote work from home benefit
  • Health, Dental, and Vision insurance plan and 401k matching available
  • Competitive salary plus the amazing monthly bonus
  • Room for advancement - we promote Ops Leaders and Jr Underwriters from within!
  • In-house virtual training opportunities to broaden your industry knowledge
  • Employee recognition on a national scale
  • Big bank capability, small-bank familial culture

Duties and Responsibilities:

  • Daily utilization of "Encompass" and "Reverse Vision" loan origination systems 
  • Set and maintain proper expectations with all parties on the HECM file
  • Analyze package for completeness to ensure loan file meets investor guidelines
  • Analyze credit, income, asset and collateral documents to submit files to underwriting
  • Calculate income for qualifying, including self-employed income analysis
  • Clear loan conditions and communicate effectively with Sales, Processing, Closing, and Underwriting team
  • Collaborate with HECM Sales Assistants to review & analyze title for all requirements and address issues, insurance coverage for mortgagee
  • Maintain loan file compliance while managing pipeline as various volume levels
  • Work effectively under specific time constraints and meet end-of-month deadlines
  • Assist in the seamless transition of new HECM Sales Associates and operations employees to our model
  • Complete Bank's customer service training and apply to everyday communications with borrowers and mortgage bankers  

It is the responsibility of the HECM Underwriting Analyst to review, analyze, and submit loan documents to Underwriting based on agency, investor, and company guidelines with a focus on efficiency and quality. 

Job Requirements:

  • High school diploma required
  • 3+ years of HECM/Reverse Mortgage Processing experience required, including 1+ years of recent/current HECM/Reverse mortgage experience. 
  • Knowledge of agency loan programs, investor loan programs, and underwriting criteria for government and conventional offerings
  • Experience processing Fannie, Freddie, FHA, VA and USDA loans preferred 
  • Experience managing a pipeline of 5-10 HECM loans or 30+ purchase loans
  • Proficiency with Reverse Vision software and other 3rd party service providers 
  • Ability to calculate income, including self-employed
  • Knowledge of legal and regulatory aspects for HECM/Reverse mortgage operations
  • Excellent interpersonal, communication, and time management skills
  • Ability to operate effectively & efficiently in high-pressure situations 
  • All applicants must be flexible with their schedules, as they may be required to work after-hours, especially during peak volume periods 

 

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    The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status
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