Loan Funding Specialist
- New York, NY, USA
- Permanent, Full time
- BankUnited, N.A.
- 20 Jan 18 2018-01-20
Loan Funding Specialist
SUMMARY: A Loan Funding Specialist is primarily responsible for 1) managing the processing and execution of daily loan funding requests submitted by mortgage banking counterparties ("client"), 2) managing collateral tracking and custodian reporting throughout the loan funding and repayment process, and 3) processing and managing daily loan settlement requests submitted by mortgage banking counterparties and approved take-out investors.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Additional duties may be assigned as needed.
* Manages the daily processing of funding requests to ensure timely execution of transactions.
* Performs data verification cross-checks on funding requests to BankUnited's warehouse loan management systems' database for program eligibility.
* Performs Closing Agent due diligence to ensure eligibility.
* Process approved funding requests for entry to Fed Wire queue.
* Verifies approved funding requests are executed as scheduled.
* Records executed funding requests and related data into BankUnited's warehouse loan management system for tracking and reporting measures.
* Monitors and tracks shipping status of loan collateral to Custodian.
* Records confirmation of receipt by Custodian into BankUnited's warehouse loan management system. Records any documentation deficiency and/or trailing documentation relative to eligibility rules.
* Confirms with mortgage banking counterparty, collateral shipping instructions for approved take-out investor.
* Coordinates with the Custodian the shipment of the Note to the approved take-out investor. Records approvals and shipping data into BankUnited's warehouse loan management system.
* Reviews, reconciles and confirms accuracy of Purchase Advice letter information from mortgage banking counterparty.
* Verification and reconciliation of loan funding settlement for accounting accuracy and data integrity
* May approve loan settlements.
* Records all loan settlement data into BankUnited's warehouse loan management system
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE:
College Bachelor degree preferred. Must have 5-10 minimum years of 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. Confidentiality required in handling of secure borrower documents.