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Naperville HECM Loan Processor

The Federal Savings Bank, a Federally Chartered Bank with a focus on residential home lending, is currently seeking a HECM Analyst (Reverse Mortgage Processor) with HECM and/or FHA experience to assist with the timely processing of HECM (Reverse) mortgage loans for our Naperville, IL office. Our HECM Analyst's primary responsibility will be to analyze and submit files to underwriting and closing based on agency, investor, and company guidelines with a focus on efficiency and quality, while seamlessly transitioning new HECM Advisors to our model.

 Requirements

  • 4 year college degree
  • 2 + years recent Residential Mortgage Processing Experience
  • Experience processing FHA, VA and Conventional loans
  • Experience Processing FHA or HECM/Reverse Mortgage Loans Strongly Preferred
  • Experience managing a pipeline of 35+ loans
  • Detail-Oriented
  • Positive Attitude
  • Excellent Interpersonal, Communication, and Time Management Skills
  • Creative, Solutions-Oriented Individual
  • Effective Problem Solver
  • Ability to work well in a team environment
  • Experience working with multiple investors and their guidelines
  • Ability to perform income calculations
  • Experience working with automated underwriting systems such as(DU/LP)
  • Proficiency with Encompass and Reverse Vision software preferred
  • And last but not least, must possess a sense of humor!
Responsibilities

  • Proficient working with automated underwriting systems (DU/LP) and major loan originations systems (Encompass)
  • Experience working with Reverse Vision
  • Analyze credit, income, asset and collateral documents to submit files to underwriting
  • Calculate income for qualifying, including self-employed income analysis
  • Clear loan conditions and communicate effectively with team
  • Ability to work effectively under specific time constraints
  • Ability to work independently
  • Communicate with borrowers and third parties to obtain loan documentation
  • Ability to operate in a fast paced environment
  • Setting and maintaining proper expectations with all parties on the loan file
  • Knowledge of State/Federal regulations to maintain loan file compliance
  • Knowledge of agency and investor loan programs and underwriting criteria for both conventional and government offerings
  • Effectively manage loan pipeline at various volume levels
  • All applicants must be flexible with their schedules, as they may be required to work after-hours, especially during peak volume periods

Application