Remote Reverse Mortgage Loan Processor Jobs (NOW HIRING)

Waterstone Mortgage is seeking a highly skilled Mortgage Loan Processor to take ownership of complex residential loan files from contract through closing. In this role, you will manage the full processing lifecycle, ensuring files move efficiently, accurately, and in full compliance with investor and regulatory guidelines.

You will partner closely with a top-producing Loan Originator and team, Underwriters, and Closers to proactively identify and resolve issues, manage critical deadlines, and deliver an exceptional borrower experience across a variety of loan programs and investors. This position requires strong organizational skills, attention to detail, and the ability to anticipate challenges before they impact the transaction.

Aligned with our Scottsdale, Arizona branch, this role is primarily remote. Candidates located in the greater Phoenix area are preferred to support local collaboration and business needs.

If you are a detail-driven Processor who thrives on accountability, precision, and successfully getting loans across the finish line, we encourage you to apply.

Essential Duties and Responsibilities

• Review new loan files within 24–48 hours of receipt to ensure required compliance disclosures were issued within the appropriate timeframe. Notify appropriate team members if additional documentation or information is needed.
• Demonstrate strong proficiency in calculating and analyzing income for hourly, salaried, commissioned, and self-employed borrowers in accordance with investor and regulatory guidelines.
• Manage a pipeline of 20+ loans while maintaining minimal review and submission turn times.
• Order all necessary documentation to satisfy Automated Underwriting (AU) findings and/or product requirements from the Loan Originator, borrower, or third-party vendors.
• Track all requested and received documentation within Encompass.
• Review documentation within 24 hours of receipt for discrepancies or missing information; calculate and verify income, validate assets, and update Encompass accordingly.
• Immediately notify the Loan Originator of documentation discrepancies and collaborate on appropriate resolution steps.
• Prepare loan files for underwriting submission using investor-specific submission checklists.
• Clear approval and/or suspense conditions as outlined by the Underwriter in a timely manner.
• Ensure all required closing documentation (e.g., title commitment, homeowner's insurance, etc.) is obtained, reviewed within 24 hours of receipt, and communicated to the Loan Originator as needed.
• Process loans to meet all contract deadlines and rate lock expiration dates.
• Deliver complete files to the Closing Department within timelines established by Waterstone Mortgage.
• Provide cross-functional support to Processors, Underwriters, and the Closing Department as needed.
• Respond promptly to borrower and third-party inquiries throughout the transaction.
• Assist in clearing post-closing investor exceptions to mitigate financial risk to the company.
• Maintain working knowledge of current state mortgage lending laws and regulatory requirements.
• Order FHA and VA case numbers through appropriate government systems.
• Run GU
• Demonstrate knowledge of real estate compliance guidelines and the ability to implement them effectively.
• Continuously develop customer service skills and industry knowledge to enhance the borrower experience.

Additional Duties

• Complete any additional duties as assigned by management
• Complete regulatory and compliance training, as required.
• Assist WMC employees and departments as needed

Qualifications To perform this role successfully, an individual must be able to execute each essential duty at a high level of proficiency. The requirements outlined below represent the knowledge, skills, and abilities necessary for success in this position. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of the role.

Education and/or Experience:

• High school diploma or General Education Degree (GED) required.
• Minimum of 10+ years of experience processing residential mortgage loans, including conventional fixed-rate and ARM products, HELOCs, and construction loans.
• Extensive experience processing FHA, VA, and USDA loans required.
• Proven experience working with multiple investors and navigating varying investor guidelines.
• Proficiency with a mortgage loan origination system required; experience with Encompass preferred.

Customer Service Skills: Demonstrates excellence in customer service is required, including:

• Maintaining a professional, positive, and solutions-oriented attitude.
• Taking full ownership of meeting customer needs and resolving issues proactively.
• Going above and beyond to deliver an exceptional borrower experience.
• Communicating clearly, professionally, and positively with borrowers, team members, and third parties.
• Respecting customers' time and schedules by managing deadlines efficiently and minimizing delays.
• Demonstrating a commitment to continuous improvement through ongoing education and training.

Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.