Reverse Loan Officer

benchmark; Michigan; On-site; USD 60,000 - 80,000; Full time

Benefits offered by this job

Medical, dental, and vision insurance

Short-term and long-term disability

401(k) and Roth 401(k) with company match

Company-provided life insurance

8 paid holidays

Job summary

Benchmark is looking for a Loan Officer in Michigan to establish relationships and source loan applications. The role requires experience in reverse mortgage lending and excellent communication skills. Candidates should have a service-oriented mindset and the ability to manage a pipeline of applicants.

Responsibilities include analyzing applications, communicating with clients about mortgage options, and maintaining compliance with regulations. Full-time employees enjoy competitive pay and benefits like medical insurance and a 401(k) plan.

Qualifications

• Minimum of 12 funded self-generated reverse mortgages in prior 12 months required.
• Proven ability to prioritize and multi-task.

Responsibilities

• Establish and maintain relationships with clients and real estate professionals.
• Analyze reverse mortgage applications and determine suitable programs.
• Communicate and educate consumers on qualified programs.

Skills

Strong communication skills

Ability to generate leads

Customer service oriented

Knowledge of various reverse mortgage loan products

General knowledge of credit reports and financial assessment

Education

High school diploma or equivalent

Licensed in market area and registered nationally in NMLS

Job description

Position Overview

With Relationships as one of Benchmark’s core values, building and maintaining relationships in order to source loan applications is the primary focus of our loan officers. The Loan Officer sources and originates loan applications from consumers and maintains relationships to develop and keep an active pipeline of applicants. Ideal candidates for this position have a strong service-oriented mindset with prior, proven reverse mortgage loan sale experience, excellent communication skills, and proven knowledge of reverse mortgage lending, compliance, Quantum Reverse or Reverse Vision and regulatory requirements.

Essential Functions of the Role

• Establish and maintain relationships through frequent travel with individuals including existing clients, past clients, and real estate professionals to generate business referrals.
• Maintain a pipeline of applications within federal and state regulations.
• Analyze reverse mortgage applications and determine the programs best meeting the needs of the consumer.
• Gather required application data and provide initial documents and disclosures to the applicant.
• Communicate and educate the consumer on qualified programs (both HECM and proprietary products if eligible) including benefits and risks.
• Support communication through the loan process between operations staff and the borrower.
• Provide all applicable initial documents and disclosures to the loan processor.
• Work with assigned Benchmark branch(s) in the training, marketing and assisting in all aspects of Benchmarks’ reverse mortgage program.
• Other duties as assigned.

Essential Knowledge/Skills/Abilities

• Strong communication skills
• Ability to generate leads
• Customer service oriented
• Proven ability to prioritize and multi-task
• Knowledge of various reverse mortgage loan products
• General knowledge of credit reports and financial assessment including residual income calculations
• Ability to adapt to market changes
• Knowledge of the mortgage loan process
• Proven ability to monitor and track multiple deadlines

Experience Requirements

• Minimum of 12 funded self-generated reverse mortgages in prior 12 months required.
• Has built a solid referral base.

Education/Licensing Requirements

• High school diploma or equivalent required. Some college preferred.
• Licensed in market area and registered nationally in NMLS.
• Professional certification (CRMP) a plus.

Working Conditions

• Fast-paced environment.
• Requires normal vision (corrected) both close and distant.
• Requires normal hearing levels (corrected).
• Requires working at a desk to use a phone and computer for extended periods of time.
• Requires sitting, bending.
• Works effectively with frequent interruptions.
• Lifting requirements of 10 lbs. occasionally.
• Frequent travel >50%.

Along with a great culture and competitive pay, full-time employees are eligible for additional benefits that include:

• Medical, dental, and vision insurance
• Short-term and long-term disability
• 401(k) and Roth 401(k) and company match
• Company-provided life insurance
• 8 paid holidays