Mortgage Loan Funder
Company: Apex Systems
Location: San Jose
Posted on: February 21, 2021
POSITION SUMMARY The Mortgage Loan Funder (MLF) is responsible
for the efficient and timely coordination of all aspects of closing
residential mortgage and home equity loans. The MLF provides
support to all loan origination channels and facilitates the
structuring, disclosures, documentation, closing, funding, and
post-closing mortgage processes while providing a superior member
service experience The incumbent ensures loan fulfillment in
compliance with all applicable federal and state laws, regulatory
and audit guidance, and within internal policies and standards, and
also works with management to review and respond to quality control
findings and facilitate audit reviews. MAJOR RESPONSIBILITIES /
DUTIES Essential Duties Member Experience
- Establishes professional rapport with all internal and external
customers including borrowers, brokers, third-party vendors and
- Engages with members to ensure their understanding of process
and timeframe, and provides timely and consistent updates.
- Requests, collects, and assembles additional documents from
borrowers as necessary to ensure completeness and accuracy of the
- Makes informed and logical loan recommendations to the
originations staff for possible restructuring, product eligibility,
borrower desire, and the need for re-disclosure based on updated
- Responds to all requests in a professional and timely manner,
honoring commitments made to the borrower, mortgage originator,
retail banking staff, and third parties.
- Validates origination-entered data from the loan application
and verifies accuracy of information as cross-referenced with
- Reviews and analyzes all documents for authenticity, accuracy,
- Understands the interrelationship of all documentation and the
basic analysis and underwriting factors involved in the loan
- Communicates clearly, accurately, regularly and timely with all
stakeholders in the mortgage funding process including, but not
limited to, mortgage originators, underwriters, brokers, and
Mortgage Servicing Department staff.
- Solves funding process issues with management, mortgage
originators, closing and settlement agents.
- Ensures closing request is accurate and all title, appraisal or
flood issues have been resolved.
- Updates all fees and closing date as necessary, and creates and
disseminates closing disclosures timely, reporting cure situations
to responsible parties.
- Reviews loan closing requests for completeness, following up
with originators, processors, title and/or the settlement agent to
obtain needed insurance, tax payments, payoff, title or other
- Inputs and/or verifies final loan data, invoices, and
- Coordinates with the processor, originator and/or settlement
agent to identify signing date and interfaces with consumer lending
to facilitate signing of concurrent docs when applicable.
- Reviews final funding conditions to coordinate with all parties
to clear conditions.
- Ensures all loan documents are signed properly and free of
modifications, notary acknowledgement is clear and legible, and
funds to close are sourced.
- Arranges final package in specific stacking or scanning
- Prepares funding wire, ensures that wire is balanced, including
any impounds and fees being netted from the wire and that wire
instructions are accurate and have been approved with closing
- Issues funding disbursement authorization to the closing agent
after audit completion. Completes wire request in the Wire
- Validates loan has fully funded and recorded with the closing
agent as appropriate; requests return of funds when necessary.
- Conducts audit of final settlement statement to verify all
information, including charges, fees, disbursements, impounds, etc.
are accurate and charged in accordance with the Closing Disclosure
and Itemization of Amount Financed.
- Prepares daily funding log for group distribution and
- Supports mortgage lending team as needed. Loan Management and
- Tracks all loans from inception to funding through daily
monitoring of the loan origination system (LOS), spreadsheets, and
other tracking tools.
- Assists loan originations in monitoring of lock expirations and
- Maintains Regulation B files to track and ensure regulatory
compliance on all incomplete mortgage applications.
- Pre-audits files for consistency and adequacy including
approval with lending authority, rate lock, appraisal, preliminary
title report, hazard insurance, mortgage insurance, program
guidelines, and lender's charges or credits.
- Analyzes loan package for compliance with applicable
regulations and guidelines including disclosure and rescission
- Runs and clears any alerts generated from applicable compliance
tools or engines, interfacing with compliance specialist, if
- Prepares, generates and discloses closing disclosure; tracks
and facilitates CD acknowledgement for compliance.
- Reviews final closing statement for accuracy; transfers file to
servicing for system audit and archiving.
- Updates and tracks discrepancies and cures for monthly
reporting and training.
- Maintains current knowledge of economic trends, the real
estate/mortgage industry and mortgage loan products. MINIMUM JOB
QUALIFICATIONS Education: Bachelor's degree in a related business
discipline (or equivalent work experience). Experience: 3+ years of
experience in related disciplines, with a particular emphasis on
closing and funding mortgage loan products in a credit union or
other financial institution. Knowledge/Skills:
- Self-starter with an understanding of 1st Mortgage and home
equity loan products, programs, applications, laws, regulations,
policies and procedures.
- Ability to effectively collaborate with internal and external
- Knowledge of managing mortgage loan applications through an
- Solid analytical and problem resolution skills.
- Proficiency in PC applications including Microsoft Excel, Word
- Strong attention to detail, time management, and multitasking
- Solid written and verbal communication skills.
- Ability to work well in a team environment. Licensing: Upon
employment, must enroll and maintain registration with Nationwide
Multistate Licensing System (NMLS) under the company's
registration. Travel: May be required to occasionally attend
offsite meetings or events, including limited overnight travel,
typically with advance notice. Typical Working Conditions: Office
environment with direct member interaction. Equipment Used:
Routinely uses standard office equipment, including computer,
phone, copier and other devices. Physical Requirements: This
- Speaking and listening to interact with members and team in
person or via phone
- Sitting 85% of the day.
- Reading a computer screen and performing keyboarding tasks for
up to 80% of the day EEO EmployerApex Systems is an equal
opportunity employer. We do not discriminate or allow
discrimination on the basis of race, color, religion, creed, sex
(including pregnancy, childbirth, breastfeeding, or related medical
conditions), age, sexual orientation, gender identity, national
origin, ancestry, citizenship, genetic information, registered
domestic partner status, marital status, disability, status as a
crime victim, protected veteran status, political affiliation,
union membership, or any other characteristic protected by law.
Apex will consider qualified applicants with criminal histories in
a manner consistent with the requirements of applicable law. If you
have visited our website in search of information on employment
opportunities or to apply for a position, and you require an
accommodation in using our website for a search or application,
please contact our Employee Services Department at or - provided by
Keywords: Apex Systems, San Jose , Mortgage Loan Funder, Other , San Jose, California
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