OBJECTIVES OF POSITION
The Loan Funder will manage the client relationship through the closing process and loan funding. The Wholesale Operations Funder will obtain essential documentation to accurately disburse funds in accordance with loan salability guidelines. They will be instrumental in creating and maintaining close relationships with all parties involved in the mortgage transaction.
- Maintain close communication with Wholesale Clients, Sales Partners, Third Party Vendors, and Operations Management to ensure proper and timely fulfillment of all responsibilities.
- Send written requests or make phone calls to clients, closing agents, and other third parties to obtain all information required to complete closing and funding of loan.
- Use of various computer systems as a basis for loan quality audit purposes (WALT, BLT, COLA, Digital Docs) to ensure accurate closing documents are released to closing agents.
- Complete Funding Audit Checklist to ensure compliance to procedures.
- Review and apply new information received regarding compliance, company policies, closing/funding procedures, etc.
- Verify underwriting and funding conditions are cleared timely on underwriting approval to ensure loan salability.
- Review title requirements for state specific mortgage attachments and /or state mortgage tax requirements.
- Gather and review required documentation for completion of closing documents including 3rd party fees, payoffs, title commitment, hazard insurance, underwriting conditions, etc.
- Confirm loan information in the closing fulfillment system is accurate. Verify loan terms including rate, term, price and ratios have not gone outside of allowable tolerances per established guidelines.
- Perform State High Cost testing (as applicable by state) and take action required to ensure the loan is closing within guidelines.
- Review final Hud-1 for accuracy and compliance. Reconcile within the fulfillment system. Verify seller and lender credits, funds on deposit, payoff of debt (if applicable) and ensure borrower has met minimum investment requirements (if applicable)
- Follow up with closing/escrow agent to verify consummation of loan, disbursement of funds and advise of any problems or concerns.
- Ensure all documentation is uploaded to our image recording system.
- Assist QC department to cure any deficiencies found on closed loan pipeline.
- Perform other various duties as required
· High School degree or equivalent is required
- Must be willing to work a 12-8 PM shift, Monday thru Friday
· Minimum of 3 years of experience in funding mortgage loans required
· Experience with secondary marketing sources (FNMA/FHLMC, FHA, VA) and
· Experience using various loan related computer programs, i.e. WALT, BLT,
COLA, Digital Docs
We are proud to be an EOE. We maintain a drug-free workplace and perform pre-employment substance abuse testing.