Under the supervision of the Operations Manager - Retail Processing, the Loan Processor will process reverse mortgage loans in accordance with established policies and procedures and appropriate guidelines; provides strong communication and support to underwriting, loan advisors, and clients to clear conditions as needed.
Job Functions and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
- Reviews loans in process daily and determines what is needed to process loans quickly.
- Performs document and processing system audit to ensure information integrity
- Manages a pipeline of 40 to 50 loans per month
- Funds a minimum of 15 loans per month
- Signs off on Tier 1 underwriting conditions
- Process HECM refinance transactions
- Review loans to ensure loan/property meets FHA and Investor guidelines
- Enters data from new loan applications and other documents into computer system
- Reviews credit reports, appraisals, flood certifications and preliminary title reports.
- Provides follow-up on a consistent basis with clients and loan advisors during the loan processing period
- Analyzes loan files and submits completed loans for approval to underwriting
- Responds to inquiries from clients, advisors and vendor partners regarding status of loans in process
- Ensures regulatory compliance
- Processes approval and denial letters
- Maintains status of all files in process and updates as needed; keeps abreast of all FHA and Investor guidelines and changes that may affect loan status
To perform this job successfully, an individual must have the following education and/or experience:
- High School Diploma, GED or Military equivalent
- Two or more years within the mortgage industry
- Two or more years as a Loan Processor
- Thorough working knowledge of real estate documentation, policies, compliance and procedures
- High level of proficiency with mortgage loan processing and underwriting systems
- Proficient in Microsoft Office (Word, Excel and Outlook).
- Analyze statistical and financial data
- Proficient on computer programs required for position
- Good judgment with the ability to make timely and sound decisions
- Demonstrated ability to calculate figures and amounts such as discounts, interest, commissions, and percentages
Training / Licensing Requirements:
- Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
This position is not eligible to be performed in the state of Colorado.
Company: Liberty Reverse Mortgage
Who We Are
Liberty Reverse is one of the largest and most experienced reverse mortgage lenders in the U.S. For over fifteen years, we've delivered education, home equity solutions, and personal care to over 60,000 senior homeowners and over 1,000 mortgage partners. Headquartered in Rancho Cordova, CA, Liberty provides reverse mortgage solutions including Home Equity Conversion Mortgages (HECM) and proprietary reverse mortgage loans to retail consumers, wholesale, and correspondent partners.
Liberty Reverse was recently named one of the Best Mortgage Companies to Work for by National Mortgage News for 2019. When you join Liberty, you join a culture which is Vibrant, Inclusive and Cares for you and your community. Every day, we strive to foster a culture where all our team members are respected, valued and empowered. Liberty employees are passionate about customer service, committed to teamwork and dedicated to success. The atmosphere is fast-paced and challenging - and there are plenty of opportunities to grow your career, whether you're pursuing management, learning multiple disciplines and/or becoming a subject matter expert in your field. We believe in empowering our employees to explore new ideas, take initiatives for change, and continuously improve our performance. And, as part of the Liberty family, you'll build long-term relationships in your career here.
Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.