Reverse Mortgage Jobs
As the U.S. population continues to grow, and with the baby boomer generation advancing in age, reverse mortgage products are becoming more popular than ever. Thanks to efforts by reputable lenders, government organizations like HUD, and senior resource organizations like the AARP, homeowners now have access to more information on reverse mortgage programs. This has greatly improved the program’s reach and reputation, and likely also contributed to the increase in reverse mortgage job opportunities.
According to Reverse Mortgage Daily, lenders are continuing to hire in the reverse mortgage industry, particularly for loan originators, sales managers and wholesale executives.
Opportunities for bilingual mortgage professionals are also growing, as Spanish-speaking homeowners have become a major driving force in the real estate and mortgage markets. According to the National Association of Hispanic Real Estate Professionals, the number of Hispanic homeowners has grown to 6.69 million in 2012 from 4.24 million in 2000.
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If you’re searching for employment in the reverse mortgage industry, the following are some of the most in-demand jobs:
Reverse Mortgage Loan Officer
Responsible for all communication with client and other third parties related to a reverse mortgage loan. Loan officers typically see the entire reverse mortgage process through from pre-qualification to underwriting and closing. Sometimes, reverse mortgage loan officers work in-house, but with advances in technology and e-communication, many loan officers can work full-time from home.
Senior Reverse Mortgage Underwriter
Responsible for reviewing client information and mortgage paperwork to ensure accuracy and compliance with legal and company-wide standards. Most senior reverse mortgage underwriters oversee all documentation associated with loans and communicate risk factors to management.
Reverse Mortgage Sales Associate
Responsible for performing sales assistance duties while contributing to the loan origination process and learning the company’s internal systems. The mortgage sales associate is generally an entry-level job where those interested in the mortgage industry can gain experience and knowledge to help them move up. These positions generally do not require any prior mortgage experience.
Reverse Mortgage Field Advisor
Responsible for generating leads to present reverse mortgage opportunities. Most field advisors are given the opportunity to build their own network of leads while also being able to draw from company-provided leads. Unlike sales associates, field advisors typically need to have a proven track record of mortgage sales and must have NMLS and state licensure.