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$29

$54

How much do temporary reverse mortgage underwriter jobs pay per hour?

As of Jun 11, 2026, the average hourly pay for temporary reverse mortgage underwriter in the United States is $29.76, according to ZipRecruiter salary data. Most workers in this role earn between $19.71 and $34.62 per hour, depending on experience, location, and employer.

What is the 60% rule in reverse mortgage?

The 60% rule in reverse mortgage underwriting refers to the guideline that the borrower's total monthly obligations, including taxes, insurance, and other debts, should not exceed 60% of their gross monthly income. As a reverse mortgage underwriter, assessing this ratio helps determine the borrower's ability to meet ongoing property-related expenses and ensures loan eligibility. Understanding this rule is essential for accurate risk assessment and compliance with lending standards.

What is the dark side of reverse mortgage?

A reverse mortgage underwriter evaluates loan applications and must be aware of potential risks such as high fees, reduced inheritance for heirs, and the possibility of the borrower facing financial difficulties if the loan balance exceeds the home's value. These risks can impact the lender's exposure and the borrower's financial stability. Proper assessment and adherence to regulations are essential to mitigate these issues.

What is the difference between Temporary Reverse Mortgage Underwriter vs Reverse Mortgage Processor?

AspectTemporary Reverse Mortgage UnderwriterReverse Mortgage Processor
CredentialsTypically requires mortgage underwriting certification, FHA/VA loan knowledgeRequires loan processing experience, basic mortgage knowledge
Work EnvironmentUnderwriting teams, financial institutions, remote or office-basedProcessing departments, mortgage companies, office-based
Employer & IndustryMortgage lenders, banks, financial servicesMortgage lenders, brokers, financial institutions

The main difference is that a Temporary Reverse Mortgage Underwriter reviews and approves reverse mortgage applications based on eligibility and risk, while a Reverse Mortgage Processor handles the initial application, gathers documents, and prepares files for underwriting. Underwriters make final decisions, whereas processors focus on document collection and data entry.

Can I be hired as a loan underwriter with no experience?

Temporary reverse mortgage underwriters typically need some background in lending, finance, or related fields, but entry-level positions may be available for candidates with strong analytical skills and attention to detail. Training is often provided on specific guidelines and software used in the industry. Prior experience can improve job prospects, but some employers may consider candidates with relevant education or transferable skills.

What are the 4 C's of underwriting?

The 4 C's of underwriting are Character, Capacity, Collateral, and Credit. These criteria help underwriters assess a borrower's ability to repay a loan and the value of the collateral, which are essential in evaluating mortgage applications, including reverse mortgages. Understanding these factors is important for underwriters to make informed approval decisions.
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Temporary Reverse Mortgage Underwriter jobs near you
Infographic showing various Temporary Reverse Mortgage Underwriter job openings in the United States as of June 2026, with employment types broken down into 1% Internship, 14% Full Time, 27% Temporary, and 58% Contract. Highlights an 66% Physical, 13% Hybrid, and 21% Remote job distribution, with an average salary of $61,902 per year, or $29.8 per hour.
Mortgage Underwriter - Reverse

Mortgage Underwriter - Reverse

Mutual of Omaha Mortgage

Remote

$90K - $110K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 8 days ago

Job description

Mutual of Omaha is a Fortune 300 Company. Mutual of Omaha Mortgage is inspired by hometown values and a commitment to being responsible and caring for each other. We exist for the benefit of our customers and employees.
Mutual of Omaha Mortgage is a full service lending company offering both Forward and Reverse Mortgage products including a complete line of residential mortgage, refinancing, specialty, and HECM loans. We employ a knowledgeable staff of experienced Loan Officers with an operations team that is second to none. If you are interested in joining a team that promotes from within and works together toward a common goal of helping customers with their mortgage needs please review and apply for our opening below!
We are seeking Underwriters to join our first in class Operations Team!
JOB PURPOSE:
To accurately evaluate and underwrite HECM reverse mortgage loan files submitted by retail and wholesale production channels, in accordance with company policy and FHA HECM guidelines.
DUTIES AND RESPONSIBILITIES:
  • Evaluate risk in accordance with all HECM FHA guidelines and company policies
  • Review all aspects of the loan file, including title and appraisal reports
  • Set the terms for approval and compliance or identify reasons for rejection
  • Ensure regulatory compliance and completeness
  • Effectively communicate all loan decisions to sales channels and management, as needed
  • Accurately review and input pertinent loan data into operational systems
  • Utilize FHA Connection to update loan data as needed
  • Work closely with all operational departments to establish productive and efficient work flows
  • Complete required checklists and worksheets

QUALIFICATIONS:
  • Minimum 4 yrs in mortgage loan underwriting required
  • Reverse mortgage experience a plus
  • FHA Direct Endorsement strongly preferred
  • Bachelor's degree strongly preferred, but not required
  • Excellent computer skills and knowledge of MS Office products
  • Strong customer service and time management skills a must
  • Highly motivated and determined to succeed in a competitive, time sensitive industry

Mutual of Omaha Mortgage is an Equal Opportunity Employer, and we encourage diverse, talented, qualified applicants to apply. We offer an extensive compensation package. Benefits include:
  • Vacation - Vacation hours accrue on a per pay period basis. Balance maximums are based on years of service.
  • Paid Sick Time - 40 hours of paid sick time after 90 days of employment. State sick time requirements will be added as needed.
  • 9 Paid Holidays + 1 Cultural Celebration Day (Floating Holiday)
  • Multiple PPO Medical Plans, as well as HDHP eligible plan.
  • Dental Coverage
  • Vision Coverage
  • Company Paid Life Insurance
  • 401K with a generous employer match
  • Additional Benefits including - Optional Life, FSA, Pet Insurance etc.
  • Free Legal Services
  • Employee Loan Program
  • 100% Remote

Apply