HECM/Reverse Collateral Underwriter

HECM/Reverse Collateral Underwriter

At Longbridge Financial

Date Posted: 27 April, 2021


Company Description

Longbridge Financial, LLC (LBF) is an innovative company committed to responsibly helping senior homeowners reshape their financial future to improve their retirement. Working together with other reputable companies in the financial services industry, we are moving into exciting new directions for the reverse mortgage business and anticipate rapid expansion offering many opportunities for personal and professional growth.

Recently recognized as an Industry Changemaker, Longbridge CEO Chris Mayer looks at the industry differently and values employees at all levels who drive our company forward.  In fact, we are now a top 5 reverse mortgage lender.

Why work with us

At Longbridge Financial, “We do the right thing” is more than a mantra, it’s our guarantee.  We want to attract the best and brightest—that’s why we’re committed to giving our employees the support they need and the respect they deserve. We offer competitive compensation packages and benefits, as well as a strong marketing and operations foundation. Join us for a rewarding career with remarkable growth potential.  Ready to be changemaker and be a part of a team to help propel Longbridge to number one?

Job Description

Job Duties:

  • The Collateral Underwriter is responsible for reviewing, analyzing, and underwriting residential collateral (FHA and Proprietary Appraisals) for new loan origination.

  • The Collateral Underwriter is required to ensure each property valuation or condominium conforms to applicable agency/inventor guidelines prior to extending new loan credit to consumers.

  • The Collateral Underwriter ensures the quality of each property valuation or condominium project to mitigate unnecessary risk.

  • The Collateral Underwriter reports to the Underwriting Manager. The Collateral Underwriter also works closely with AMCs, and internal departments.

Key Tasks and Responsibilities:

  • Review and approve residential appraisals (FHA and Proprietary) for the purpose of loan collateralization

  • Review of condominium project documentation

  • Ensuring property type, condition and value conforms with applicable agency guidelines

  • Handling AMC work product/validation appeals.

  • Daily reporting to management

  • Communicate with originator, per service standards; answer underwriting and product questions

  • Complete Underwriting Certifications, as necessary

  • Complete and deliver work product with highest degree of customer service and accuracy

  • Incumbent will be responsible for meeting LBF commitment to compliance.

  • DE Designation / Active CHUMS #
  • 3-4 Years of Residential Appraisal or Loan Origination Underwriting Experience
  • Active knowledge of FHA Minimum Property Requirements/Minimum Property Standards
  • Experienced in Reverse program collateral requirements
  • Experienced in analyzing, Single family property, 2-4 Multi-family property, Condominium and Manufactured home appraisals.
  • Proficient in Microsoft Office (Outlook, Word and Excel)
  • Strong Analytical Skills
  • Attention to Detail
  • Strong communication skills (verbal and written)
  • LBF is an EOE
Additional Information
  • Full benefits
  • 401(k) with company match.
  • Paid time off.
  • Potential growth within a growing organization. We promote from within
  • Working in a growing and dynamic industry
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