
Loan Funding Specialist
Required skills
- loan funding
- mortgage banking
- loan processing
- data verification
- closing agent
- disbursement of funds
- Fed Wire
- loan settlement
- investor eligibility
- Bank Secrecy Act
Nice to have
- underwriting
- post-closing
- mortgage lending regulations
- loan documentation
- collateral management
Role summary
The Loan Funding Specialist manages the processing and execution of daily loan funding requests from mortgage banking counterparties. Responsibilities include data verification, closing agent due diligence, preparing funding requests for accounting, recording executed requests, and coordinating with the Loan Settlement Specialist for accuracy. The role also requires adherence to federal and state lending regulations, including anti-money laundering laws, and bank policies. Cross-training for the Collateral Management Specialist role is also included.
JOB SUMMARY: A Loan Funding Specialist is primarily responsible for managing the processing and execution of all daily loan funding requests submitted by mortgage banking counterparties ("client"). This position will also be cross-trained for the Collateral Management Specialist.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Receives daily funding requests from client and manages processing daily queue to ensure timely execution of transaction execution.
- Performs data verification cross-checks on each funding request to BankUnited's warehouse loan management systems' database and imaged closing documents relative to program eligibility.
- Performs Closing Agent due diligence to ensure is eligibility and data base approvals.
- Approves Closing Agent instruction letters regarding disbursement of funds and transportation of closing collateral documentation.
- Prepares and delivers funding request for accounting approval and entry to Fed Wire queue.
- Verifies funding request is executed as scheduled.
- Records all executed funding requests and related data into BankUnited's warehouse loan management system for tracking and reporting measures.
- Coordinates with Loan Settlement Specialist the review, reconciliation and verification of all loan funding settlement requests (payoffs) for accounting accuracy and data integrity.
- Confirms that scheduled take-out investor is BankUnited eligible, current and resides within our approval database.
- Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.).
- Adheres to Bank policies and procedures and completes required training.
- Identifies and reports suspicious activity.
QUALIFICATIONS
Education
- Bachelor's Degree preferred
Experience
- Prior mortgage loan processing, underwriting, closing or post-closing related experience and a general knowledge of mortgage lending regulations (state and federal), loan documentation, policies and procedures preferred
- Confidentiality in handling of secure borrower documents required
Additional Information
- Candidates residing in locations within BankUnited's footprint may be given preference.
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