Mortgage Loan Funder

We are seeking a detail-oriented and experienced Funder to join our team. As a Funder, you will be responsible for ensuring the accurate and timely funding of loans. This is a vital role in our organization, as it directly impacts the success of our loan origination process.
Duties:
– Review loan documents and verify accuracy and completeness
– Prepare loan funding packages and ensure all required documentation is included
– Coordinate with escrow, title, and other parties involved in the loan process to ensure smooth funding
– Process loan funding requests in compliance with company policies and procedures
– Perform credit analysis to assess borrower eligibility for loan funding
– Conduct basic math calculations to determine loan amounts, interest rates, and payment schedules
– Maintain accurate records of funded loans and update internal systems accordingly
– Collaborate with loan processors and underwriters to resolve any issues or discrepancies
Requirements:
– Previous experience as a Funder or in a similar role within the banking or mortgage industry
– Proficiency in using 10-key typing for data entry purposes
– Strong knowledge of loan origination processes, including FNMA guidelines
– Excellent credit analysis skills to assess borrower eligibility
– Ability to perform basic math calculations accurately
– Familiarity with loan processing procedures and contract requirements
– Detail-oriented with strong organizational skills to manage multiple tasks simultaneously
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§ Performs final verification processes regarding credit and employment. Compares the information received to the application as a final UW review.
§ Obtains and clears other conditions as outlined on the loan approval or UW Evaluation or HE UW Worksheet. Reviews to make sure they meet investor or TFCU requirements.
§ Clear the loan in the LOS system making sure that changes do not affect the sellability of the file or the UW commitment. Follows secondary market requirements and take appropriate actions if changes impact original lending decision.
§ Coordinates with the title company/Closing agent for the receipt of all closing fees and documents for the preparation of disclosures.
§ Prepares the Closing Disclosure within the timeframes as outlined by the TRID regulation for first mortgage, HE and Rapid Refi loans. Updates the fields in Encompass – Mortgage Lending electronic system as required to produce a compliant document. Challenges or questions any inconsistencies for TFCU is now accountable to the regulators and investors for the correct completion of this document.
§ Prepares the HELOC closing documents that follow a different set of requirements and regulations.
§ Prepares closing documents in compliance to regulations, secondary market standards and requirements, MI company standards and TFCU procedures.
§ Responds to any borrower inquiry regarding the Closing Disclosure. A full understanding of this document and the figures noted for its completion is imperative.