Loan Funder Job Description
Loan funder
provides the commercial loan closing and funding team with the technical support needed to close / fund commercial loans.
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:
Position requires compliance with federal lending regulations, particularly Real Estate Settlement Procedures Act, Truth in Lending Act, Flood Disaster Protection Act, Homeowners Protection Act, and Home Mortgage Disclosure Act
Maintain current knowledge of all internal policies, procedures and training external legislature and regulations
Process Loan Closings, Advances, Payments, and Maintenance Items – including Rollovers, Conversion, Margin Changes and Other Operational Transactions – , Loan Closings, Renewals and Loan Modification on an on-going basis
Compare documents and discuss discrepancies with underwriter and loan officer for resolution
Reviewing the loan approval and loan documents to understand the project, funding logistics, and approval requirements
Accurately funding advance requests utilizing Loan Manager
Review and balance the loan on the Loan Manager System
Resolution specialist for all construction related issues – to include due diligence, out of balance situations, construction delays
Responsible for a team of up to 8 employees (direct reports) to include training, mentoring, discipline, employee reviews and development
Identify process and procedure needs within the funding team and assist with development, documentation, and implementation of process and improvement changes within the SBA department
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:
Bond
VA
FHA
Jumbo
New construction loans
USDA
Federal
State
Necessary conditions and investor specific guidelines for closing
Valid documentation and processes to fund and close consumer mortgages
Desired experience for loan funder includes:
Three or more years of experience and a proven track record of in-depth review of all types of commercial/SBA loan documentation, along with extensive knowledge/experience in commercial real estate funds administration
Must be able to balance loan budgets and identify budget issues
AFS Level III, CLCS, Exel, and Construction Management experience
Proficient in Microsoft office ability to learn and utilize other information systems
5 years of experience is expected for a Commercial Loan Funder Closer III
General Banking experience in of these areas is highly desired- loan closing, loan administration, loan funding and/or booking, loan documentation, or loan/collateral review
Loan Funder Examples
1
Loan Funder Job Description
Job Description Example
Our innovative and growing company is looking for a loan funder. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for loan funder
- 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
Qualifications for loan funder
- 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
2
Loan Funder Job Description
Job Description Example
Our company is searching for experienced candidates for the position of loan funder. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan funder
- 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
Qualifications for loan funder
- 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 )
3
Loan Funder Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of loan funder. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan funder
- 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
Qualifications for loan funder
- 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
4
Loan Funder Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of loan funder. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan funder
- 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
Qualifications for loan funder
- 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
5
Loan Funder Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of loan funder. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for loan funder
- 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
Qualifications for loan funder
- 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