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CMG Financial · 1 month ago

Reverse Underwriting Supervisor

United States

Full-time

Hybrid

Mid, Senior Level

$95K/yr - $120K/yr

5+ years exp

CMG Home Loans is seeking a Reverse Underwriting Supervisor who is responsible for managing the underwriting department’s daily operations for reverse mortgage loans. This role ensures the timely and accurate review, approval, and processing of loan applications in compliance with company policies, FHA guidelines, and other regulatory requirements.

BankingMortgage

Growth Opportunities

Responsibilities

Manage, lead, and develop a team of reverse mortgage underwriters, ensuring high levels of performance and professionalism

Provide guidance, training, and coaching to underwriters on best practices, company policies, and regulatory changes

Conduct regular performance evaluations, set goals, and provide constructive feedback for continuous improvement

Review and approve or deny reverse mortgage applications based on company guidelines, FHA/HUD rules, and other applicable regulations

Analyze borrower documentation, including income, assets, property appraisals, and credit history, to assess eligibility for reverse mortgage loans

Ensure underwriting decisions are made in a timely manner and comply with all internal and external requirements

Ensure that all reverse mortgage underwriting decisions are in full compliance with federal, state, and local regulations

Monitor and stay current with changes to regulations, such as FHA guidelines and Home Equity Conversion Mortgage (HECM) requirements, ensuring that the team is adequately trained on new policies

Identify and mitigate any underwriting risk, ensuring that loans are processed in a compliant and efficient manner

Continuously evaluate and improve underwriting processes to enhance efficiency, reduce errors, and improve turnaround times

Implement best practices for underwriting and reviewing files to ensure consistency, accuracy, and adherence to guidelines

Work with operations and quality assurance teams to identify areas for process improvement and enhance overall loan quality

Collaborate with the reverse mortgage processing, closing, and compliance teams to ensure smooth loan workflows and resolve any issues or challenges that arise during underwriting

Maintain open and clear communication with loan officers, processors, and other departments to facilitate the timely and accurate review of loan applications

Address any questions or concerns from internal teams or external stakeholders related to underwriting decisions

Track and report on underwriting department performance, including volume, approval/denial rates, and processing times

Use data to assess and improve the team’s efficiency, productivity, and compliance

Provide regular updates to senior management on underwriting trends, challenges, and any areas requiring attention

Ensure that underwriters provide clear, timely, and accurate information to processors, loan officers, and other stakeholders

Address and resolve any escalated issues or concerns regarding underwriting decisions or loan officer inquiries

Ensure a customer-centric approach while maintaining regulatory compliance and underwriting standards

Qualification

Reverse mortgage underwritingFHA guidelines knowledgeLeadership experienceUnderwriting processes developmentMortgage regulations complianceUnderwriting software proficiencyMicrosoft Office SuiteCommunication skillsProblem-solving abilitiesTeam management skills