CMG Financial Careers

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. The manager will lead a team of underwriters, monitor loan quality, and drive improvements to underwriting processes.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Team Leadership & Supervision:
  • 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.
• Underwriting Review & Decisioning:
  • 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.
• Compliance & Risk Management:
  • 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.
• Process Improvement & Quality Assurance:
  • 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.

• Collaboration & Communication:
  • 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.
• Reporting & Metrics:
  • 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.
• Customer Service & Borrower Satisfaction:
  • 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.

QUALIFICATIONS AND EXPERIENCE:

• Bachelor’s degree in business, finance, or related field, or equivalent work experience.
• 5+ years of experience in reverse mortgage underwriting.
• Experience developing and leading a start-up underwriting team for reverse mortgages within a closed loan seller environment.
• At least 2 years of experience in a leadership or management role, overseeing a team of underwriters.
• Strong knowledge of reverse mortgage products, including FHA guidelines and Home Equity Conversion Mortgages (HECM).
• Hands-on experience establishing underwriting processes, policies and workflows for reverse mortgages.
• In-depth understanding of mortgage regulations, including compliance with federal, state, and local laws.
• Exceptional leadership, coaching, and team management skills.
• Excellent communication skills, both written and verbal, with the ability to interact with a wide range of stakeholders.
• Strong problem-solving abilities and attention to detail.
• Proficiency with underwriting software and Microsoft Office Suite.

SUPERVISORY RESPONSIBILITIES: Direct Reports: Yes

PHYSICAL and ENVIRONMENTAL CONDITIONS:

This role operates in an ADA compliant office environment, utilizing typical office equipment and tasks including computer work. The position may involve partial stationary positions and moving throughout the day. Flexibility to work overtime to meet project deadlines is required.

Base Compensation Information – For residents of the states of CA & CO, and for NY + other areas requiring disclosure:

CMG pays a competitive base which ranges from $95,000 - $120,000. Factors that affect base salary may include: Reverse Underwriter experience and designations, years of management, overall knowledge, number of years worked in mortgage industry, types of roles performed, computer skills, experience specific to working with mortgage lenders, and education.