Reverse Mortgage Processor
Location: Auburn, CA
Job Description:
We currently are not hiring for the position of Reverse Mortgage Processor. Please check back periodically or email your resume to corporate@mlsmoney.com for potential future employment opportunities.
Thank you for your interest!
Broker Your Reverse Mortgages - Advisor Program
Location: California, Oregon
Locations coming soon: Nevada, Arizona
Job Description:
Thank you for your interest in the MLS Mortgage Reverse Mortgage Broker Program. Interest in Reverse Mortgages is increasing at an incredible rate. Now you have the perfect opportunity to participate in originating Reverse Mortgages without the increased expenses of FHA audits or increasing office staff.
Broker Benefits
- Keep your clients!
- Service provided to senior customers
- Earn compensation for service you provide to customer
- No cost to participate in Broker-In program
- Requires no back office staff to underwrite, process and close the loan
- Get paid within 24 hours of closing.*
Broker Requirements
- Complete the borrower origination worksheet
- Direct client to proper counseling agency
- Remain in contact with borrower and MLS Mortgage. MLS Mortgage will also be in contact with both the borrower and broker during the entire process.
- To be set up under our Reverse Mortgage Broker Program, please email your resume to corporate@mlsmoney.com and include your anticipated volume.
Broker Compensation
Broker Compensation is a maximum of 25% of the total origination fee.
Total origination fee is capped by HUD at 2% of the lesser of the appraisal value or the FHA maximum loan amount in the county where the property is located.
Example - home value of $300,000 has an origination fee of $6,000. Broker earns $1,500.
*Broker compensation check will be cut out of escrow and will be sent overnight to Advisor.