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Job Description
The Mortgage Loan Funder is responsible for accurately reviewing, preparing, and disbursing funds for mortgage loan closings in compliance with company policies, investor requirements, and regulatory guidelines. This role ensures that all documentation is complete, accurate, and meets funding conditions, coordinating closely with loan processors, underwriters, closing agents, and settlement companies to guarantee smooth, timely closings.
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Key Responsibilities
- Loan Document Review & Verification
- Review closing packages for completeness and compliance with investor, lender, and regulatory guidelines.
- Verify that all funding conditions are satisfied before releasing funds.
- Confirm loan amounts, interest rates, fees, and terms match the approved loan file.
- Funding Coordination
- Prepare wire transfers and funding disbursements in line with company protocols.
- Communicate funding approvals and wire confirmations to settlement agents or closing attorneys.
- Resolve funding-related issues promptly to avoid closing delays.
- Compliance & Quality Control
- Ensure adherence to internal policies, investor requirements, and applicable legal regulations (e.g., TRID, RESPA, TILA in U.S. context).
- Maintain accurate audit trails for all transactions.
- Flag discrepancies, missing documentation, or compliance issues for immediate resolution.
- Stakeholder Communication
- Liaise with internal departments (processing, underwriting, post-closing) to resolve funding-related queries.
- Serve as point of contact for settlement agents and closing attorneys during the funding stage.
- Provide exceptional customer service while maintaining professional communication.
- Reporting & Record Keeping
- Document funding activities and maintain accurate funding logs.
- Assist in reconciling daily funding reports and wire transactions.
- Support post-closing teams with any funding-related follow-up
Job Requirements
Qualifications
- Education: Bachelor’s degree in Finance, Business Administration, Accounting, or related field preferred.
Experience:
- Minimum 2–3 years of mortgage funding, loan closing, or similar banking experience.
- Strong understanding of mortgage lending processes, loan documentation, and funding requirements.
Skills:
- High attention to detail and accuracy in reviewing financial/legal documents.
- Strong organizational and time management abilities.
- Excellent communication and problem-solving skills.
- Proficient in loan origination/funding software and MS Office Suite.
Knowledge:
- Familiarity with mortgage regulations, compliance standards, and investor guidelines.
- KPIs (Key Performance Indicators)
- Percentage of loans funded on time.
- Error rate in funded loan files.
- Compliance audit pass rate.
- Turnaround time from receipt of closing package to funding.
- Stakeholder satisfaction score (internal & external).