Reverse Mortgage Closer

SmartRecruiters, Inc.; Mahwah (NJ); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Full benefits

401(k) with company match

Paid time off

Growth within company

Job summary

Longbridge Financial is seeking a Closer to support funding and HUD-insuring processes. You will gather required documents, audit files, review title and LOS details, and coordinate with settlement agents and partners to ensure compliant closings.

The role requires at least three years as a closer or related position, with preference for reverse mortgage experience. Strong attention to detail and organizational skills are essential for successful funding.

Qualifications

• Minimum of three years as a closer, funder or doc drawer.
• Reverse mortgage industry experience preferred.
• Ability to prepare routine administrative paperwork.
• Organizing and coordinating skills.
• Develop and maintain files and records.

Responsibilities

• Ensure loans meet guidelines for quality and investor standards.
• Gather forms and conditions required to close and fund.
• Audit initial documents and file per procedures.
• Review title info, sales comps and LOS for accuracy.
• Understand investor requirements to ensure salable closing packages.
• Run reverse mortgage calculations to tailor applications.
• Prepare closing documents and follow up on discrepancies.
• Deliver funding package per funding procedures.
• Coordinate with settlement agents and partners as needed.

Skills

Close loans

Mortgage knowledge

Documentation

Organizational skills

Attention to detail

Regulatory compliance

Job description

Longbridge Financial is an innovative company committed to responsibly helping seniors use home equity to have a better retirement. We work together with reputable companies in the financial services industry and anticipate rapid expansion and opportunities for personal and professional growth while moving into exciting new directions for the reverse mortgage business. If you are interested in taking the next step in your career and helping to build the foundation of an exciting company, this role could be a perfect fit.

Job Description

The Closer must make sure all required items for the loan file are obtained/collected at the time of funding in order to be able to submit the loan to the investor and to be sent out for the HUD Insuring process. The Closer will work with Correspondent Partners, Title companies, Sales Advisors, Attorneys, etc….on a daily basis.

Job Functions:

• Ensure that all loans meet guidelines for quality and regulatory compliance and investor closing standards are met
• Gather all required forms and conditions required to close and fund the loan
• Audit initial documents and file based on audit procedures.
• Review title information, sales comps and LOS information for accuracy and to identify potential qualification issues
• Establish and maintain a thorough knowledge of all products and investor requirements to ensure quality closing packages and salability to the Investor.
• Run calculations on a reverse mortgage calculator to customize application packages based on client qualification.
• Assemble client portfolios and audit portfolio based on procedures.
• Prepare all closing documents required to close mortgage loans, ensuring documentation is complete and accurate; follow up with any discrepancies.
• Audit closing documents and file based on audit procedures.
• Prepare and explain closing requirements to settlement agent as needed.
• Receive document package from settlement agent and review and clear all prior to funding conditions.
• Audit funding documents and file based on audit procedures.
• Determine any additional funding conditions that are need to meet lender, investor, or HUD guidelines.
• Prepare and deliver funding package based on funding procedures.
• Perform client, settlement agent, processor, or client relations follow-up as needed.
• Coordinate shipping and receiving of documents to loan advisors, settlement agents, and wholesale partners, as needed.

Qualifications

Qualifications

• Minimum of three years as a closer, funder or doc drawer
• Reverse mortgage industry experienced preferred
• Ability to prepare routine administrative paperwork
• Organizing and coordinating skills
• Ability to develop and maintain files and records
• Skill in the use of personal computers and related software applications, specifically Internet Explorer, Microsoft Outlook, and Microsoft Word
• Knowledge of customer service standards and procedures
• Good customer service skills and reliable
• Individual must be extremely detailed oriented and work well under pressure, meeting multiple and conflicting deadlines
• Must at all times demonstrate cooperative behavior with colleagues and supervisors

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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