Mortgage Underwriter

Altisource; New York (NY); Remote; USD 50,000 - 58,000; Full time

Benefits offered by this job

Medical coverage

Life insurance

Paid holidays

Job summary

Altisource seeks an experienced HECM Underwriter to support a growing reverse mortgage origination platform. You will underwrite FHA-insured reverse mortgage loans, ensuring HUD guidelines, investor requirements, and internal standards are met.

The ideal candidate will have strong knowledge of HECM underwriting, property eligibility, income analysis, and quality control, maintaining regulatory compliance and high productivity in a remote US-based environment.

Qualifications

• Minimum 3+ years mortgage underwriting experience with HECM/reverse mortgage underwriting strongly preferred.
• Strong knowledge of FHA/HECM underwriting guidelines, HUD regulations, and reverse mortgage program requirements.
• Experience performing financial assessments and residual income analyses for reverse mortgage borrowers.

Responsibilities

• Review, analyze, and underwrite HECM loan files per HUD/FHA/investor guidelines.
• Complete comprehensive financial assessments including income, assets, liabilities, residual income, and property charge evaluations.
• Evaluate borrower eligibility, occupancy requirements, and counseling compliance for reverse mortgages.
• Review appraisals and collateral documentation for FHA and investor standards.
• Analyze title commitments, property ownership structures, trusts, and vesting scenarios.

Skills

HECM underwriting

FHA guidelines

HUD regulations

risk assessment

quality assurance

Education

DE Underwriter designation

FHA underwriting experience

Tools

FHAConnection

HERMIT

ReverseVision RVExchange

Job description

Job Description

AboutAltisourceAltisourceisaleadingproviderofintegratedservicesandtechnologyforthemortgageandrealestateindustries.Oursolutionssupportthefullmortgagelifecycle,fromoriginationsthroughservicing,helpingclientsmanagerisk,maintaincompliance,andscaleefficiently.Withinnovation,serviceexcellence,andregulatoryintegrityatourcore,wedelivertechnology-enabledsolutionsthatsolvecomplexbusinesschallengesacrosstheindustry.

The Role

AltisourceisseekinganexperiencedHECM(HomeEquityConversionMortgage)Underwritertospportourgrowingreversemortgageoriginationplatform.Inthisrole,youwillberesponsibleforunderwritingFHA-insuredreversemortgageloans,ensuringcompliancewithHUDguidelines,investorrequirements,andinternalcreditandoperationalstandards.TheidealcandidatewillpossessstrongknowledgeofHECMunderwriting,propertyeligibilityrequirements,incomeandfinancialassessmentanalysis,andqualitycontrolprocessesnecessaryforsuccessfulloandeliveryandinsurability.

What You’ll Do

• Review,analyze,andunderwriteHECMloanfilesinaccordancewithHUD,FHA,investor,andcompanyunderwritingguidelines.
• Completecomprehensivefinancialassessments,includingincome,assets,liabilities,residualincomecalculations,andpropertychargeevaluations.
• Evaluateborrowereligibility,occupancyrequirements,andcounselingcompliancerequirementsforreversemortgages.
• ReviewappraisalsandcollateraldocumentationtoensurepropertyeligibilityandcompliancewithFHAandinvestorstandards.
• Analyzetitlecommitments,propertyownershipstructures,trusts,lifeestates,andothervestingscenarioscommonlyassociatedwithHECMtransactions.
• Identifyandclearlycommunicateunderwritingconditions,documentationdeficiencies,andriskfactorstoprocessingteams,ClientRelationshipManagers,andloanoriginators.
• EnsureloansmeetFHAinsurabilityrequirementsandinvestorsalabilitystandardswhilemaintainingestablishedproductivityandservice-levelexpectations.
• Maintainthoroughandaccurateloandocumentationtosupportregulatorycompliance,auditreadiness,andqualityassurancerequirements.
• InterpretandapplyHUDMortgageeLetters,FHApolicyupdates,andinvestoroverlaystounderwritingdecisions.
• Collaboratewithfulfillment,processing,closing,andqualitycontrolteamstofacilitateefficientloanclosingsandexceptionalclientservice.
• Supportpost-underwritingreviews,loanaudits,andqualitycontrolinitiativesasneeded.
• Maintaincurrentknowledgeofreversemortgageregulations,FHA/HUDrequirements,andindustrybestpractices.

What You Bring

Minimum3+yearsofmortgageunderwritingexperience,withdirectHECM/reversemortgageunderwritingexperiencestronglypreferred.StrongworkingknowledgeofFHAHECMunderwritingguidelines,HUDregulations,andreversemortgageprogramrequirements.Experienceperformingfinancialassessmentsandresidualincomeanalysesforreversemortgageborrowers.Proficiencyreviewingandinterpreting:FHAConnectionHERMIT®orequivalentreversemortgageoriginationsystemsReverseVision(RVExchange)orsimilarHECMplatformsAutomatedvaluationandappraisalreviewtoolsKnowledgeof:HUDMortgageeLettersFHApropertyeligibilityrequirementsTitleandvestingreviewTrustandPowerofAttorneydocumentationNon-borrowingspouserequirementsLifeexpectancyset-asides(LESA)AbilitytoidentifyandmitigateunderwritingriskwhilemaintainingcompliancewithFHAinsurabilitystandards.Strongunderstandingofmortgagefraudprevention,compliancecontrols,andqualityassuranceprocesses.Excellentwrittenandverbalcommunicationskillswiththeabilitytoclearlyarticulateunderwritingdecisionsandconditions.Strongorganizationalskillsandabilitytomanageahigh-volumepipelinewhilemaintainingqualityandservicestandards.Highattentiontodetail,soundjudgment,andacompliance-focusedmindset.

Preferred Qualifications

• DEUnderwriterdesignationorFHAunderwritingexperience.
• Priorexperienceunderwritingproprietaryreversemortgageproductswithin the past 6 months.
• Experienceinadelegatedunderwritingenvironment.
• Familiaritywithsecondarymarketdeliveryrequirementsandinvestoroverlays.
• Previousexperiencesupportinghigh-volumemortgagefulfillmentoperations.

Why Join Altisource

Opportunitytoworkwithaleadingproviderofmortgagetechnologyandfulfilmentsolutions.Collaborativeandperformance-drivenculture.Exposuretoadiverseclientportfolioandnationallendingprograms.Competitivecompensationandbenefitspackage.Opportunitiesforprofessionaldevelopmentandcareergrowth.

Additional Information

The PERKS OF WORKING AT ALTISOURCE

Work Environment

100% remote position - US Based candidates only

Compensation

The expected pay range for this role is $36.50 per hour, depending on experience, skills, and qualifications. Actual compensation may vary based on job‑related factors and geographic location.

Good Health

• Good Health
• Comprehensive medical coverage
• Life insurance and personal accident benefits
• Time to Recharge
• Paid company holidays (including the day after Thanksgiving)

Our Innovation Starts with YOU!

Altisource’s Vision to drive innovation that powers the mortgage and real estate lifecycle is made possible by an inclusive culture that celebrates the diverse voices of our employees. We believe that diversity in gender, age, religion, ethnicity, sexual orientation, identity, physical ability, neurodiversity, socioeconomic background, and experience, fosters creativity, challenges groupthink, and makes our Company stronger. At Altisource, anyone can prosper and have a positive impact on our path toward success, irrespective of their background.