Loan Funder Job Description
Loan Funder Duties & Responsibilities
To write an effective loan funder job description, begin by listing detailed duties, responsibilities and expectations. We have included loan funder job description templates that you can modify and use.
Sample responsibilities for this position include:
Loan Funder Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Loan Funder
Typically a job would require a certain level of education.
Employers hiring for the loan funder job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Business/Administration, Accounting, Legal Studies, Real Estate, Construction, Associates, Paralegal Studies, Business, Education, Finance
Skills for Loan Funder
Desired skills for loan funder include:
Desired experience for loan funder includes:
Loan Funder Examples
Loan Funder Job Description
- Re-verify all data provided applying internal Quality Control procedures
- Maintain and cultivate an effective client centric relationship with Internal (loan production and loan operations staff, other departments, branches, ) and external (clients, realtors, ) clients
- Works closely with title and escrow companies in the preparation and closing of the loan transaction
- Trailing Document Tracking and review
- Shipping of Loans to Investors
- Distributes loan proceeds in accordance with documentation
- Verifies/Approves closing documents and distributes loan proceeds
- Completes wire transactions
- This position is incentive eligible
- Assists with Post Closing deficiencies involving Closer or Funder as a training opportunity
- Have a minimum of three-year experience in Real Estate funding
- Three year closing experience
- Or underwriting associates, ensuring files remain in compliance
- May assist with coaching, mentoring, or training others
- Others and teach coursework as subject matter expert
- Must know legal requirements including title deeds
Loan Funder Job Description
- Review of preliminary loan documentation for various loan packages consisting of title commitment, hazard insurance, flood certificate, tax certificate, appraisal, construction contracts, entity documents, UCC lien searches, Engage attorney to prepare the closing package
- Receive executed file from the title company or lending staff, review for accuracy and completeness
- Interact with title companies, attorneys, and lending staff regarding questions and concerns
- Stays informed of the latest changes and trends in compliance and credit policy
- Position requires compliance with all banking regulations, particularly the Bank Secrecy Act/Anti Money Laundering regulations
- All BSA/AML related reports will be required to be filed as appropriate
- Successful completion of annual BSA/AML training is required
- Other duties as assigned, or as necessary to ensure smooth and correct departmental operation
- Prepares a complete list of all outstanding items remaining after review or corrections that must be made and promptly forwards to broker and closing agent or Title Company
- Complete Funding dates and resolution loan file accordingly
- Minimum of 1 year of experience in funding Conventional and Government loans or one year of related business experience
- Must work ethically and demonstrate sound fiduciary responsibility at all times
- Minimum of 1, 2, or 3 years of experience in funding Conventional and Government loans or one year of related business experience
- One year closing experience
- Minimum 3 years mortgage industry experience in Closing, Compliance, or Funding required
- Thorough knowledge of valid documentation and processes required to fund and close consumer mortgages (e.g., verification of employment, HUD-1, CD, settlement statement )
Loan Funder Job Description
- Receive, review and approve all signed loan closing documents for completeness and compliance
- Determine that all funding and underwriting conditions have been satisfied and follow up with appropriate parties for corrections
- Complete all internal funding documentation and distribute to appropriate departments
- Complete funded loan, file documents and update Onbase for imaging
- Coordinate with Loan Delivery to ensure timely deliveries and complete files to investors
- Perform duties & responsibilities specific to department functions & activities and as required by Supervisor
- Must be proficient is preparing, analyzing and disclosing the Closing Disclosure (CD), acceptable tolerance levels and cures to be compliant with TRID
- Perform complete verification to ensure all closing documents are properly executed and collected from all parties associated with the closing transaction prior to disbursing loan proceeds
- Fund loan proceeds for commercial and commercial real estate loans in compliance with internal controls
- Board commercial and commercial real estate loans
- Total recent work experience includes at least one year of experience in a support role related to mortgage banking for Conventional loans
- Minimum of 5 years closing experience and 2 years management experience preferred
- Requires excellent communication skills, written and oral, through all levels of the organization
- Bachelor Degree in Business Administration, Accounting, or Legal Studies or equivalent experience in Commercial Real Estate, Construction, or Commercial loan closing/servicing/funding
- Paralegal background/experience
- LIHTC experience a plus
Loan Funder Job Description
- Utilize Jack Henry and LaserPro within internal guidelines and regulatory requirements
- Supports primarily syndicated loan transactions group email boxes ( 3)
- Monitor incoming notifications from Agent banks and other email traffic, and ensure they are tagged for proper handling in the LD&FC workflow
- Other work responsibilities as assigned by the manager
- Review, verify, organize, and audit closed files to ensure accuracy, completeness and compliance with company and regulatory guidelines
- Work and communicate professionally with external vendors and internal departments as to required documentation or corrections to documentation for completion before funding of the loan
- Utilize funding checklist to ensure files are stacked correctly and contain all required documentation
- Monitors and maintains funding queue to ensure timely delivery of all funds.• Review final funding conditions provided to determine requirements are met and either sign off or recondition, if not satisfactory
- Solve problems promptly, communicate effectively with internal and external customers, and work well under pressure
- Maintain thorough understanding of loan documents and loan program requirements
- 4+ years of true loan funding experience
- In-depth knowledge of all types of commercial loan documentation, along with extensive knowledge/experience in perfection of liens in accounts receivable, inventory, equipment, vehicles, negotiable securities, aircraft, ship mortgages
- In depth knowledge of Real Estate transactions for all types of property including title policies, survey’s, appraisals
- Must be able to identify loan documentation and lien perfection issues and resolve appropriately
- Associates degree in Business Administration or an equivalent of 2 years of professional experience
- High School Diploma plus specialized or technical training at a minimum
Loan Funder Job Description
- Stay abreast of any changes and/or new products and make appropriate adjustments to any processes and procedures in each job function
- Perform closing and funding of Mortgage loans which includes a thorough review of executed loan documents for completeness and accuracy
- Review executed loan documents
- Review and ensure all underwriting and prior to funding conditions are met
- Coordinate closing with escrow/settlement agent
- Prepare disbursements and set up wire instructions for closing agent/title
- Review settlement statement and/or loan estimate/ closing disclosure
- Funding the loan according to the bank approval and the signed loan documents
- Reviewing any due diligence items associated with servicing requests as they come in for accuracy and sufficiency, according to Bank policy
- Accurately funding advance requests utilizing AFS, CLCS, Loan Administration, and/or Loan IQ
- 3-5 years of Loan Documentation & Processing background at a minimum
- 5 years in corporate banking / syndicated loan documentation and closing
- 5 years within a financial institution with extensive commercial experience in servicing corporate banking syndicated credits
- FX Exposure
- Efficiency, attention to detail, accuracy, ability to work well with others and being a team player are crucial characteristics for this position
- Experience with LoanIQ and / or AFS Level III