Loan Funding Specialist

BankUnited; New York (NY); On-site; USD 65,000 - 95,000; Full time

Job summary

BankUnited is seeking a Loan Funding Specialist to manage daily funding requests from mortgage banking counterparties and ensure timely execution of transactions, including processing, verification and data entry into the warehouse loan management system.

The role also covers closing agent due diligence, preparation for accounting entries, and coordination with Loan Settlement to verify payoffs, all while complying with applicable mortgage regulations and Bank policies.

Qualifications

• Bachelor's Degree preferred.
• Prior mortgage loan processing, underwriting, closing or post-closing experience preferred.
• Knowledge of mortgage lending regulations (state and federal) preferred.

Responsibilities

• Receives daily funding requests and manages processing to ensure timely execution.
• Performs data verification against warehouse loan management systems and closing documents.
• Conducts Closing Agent due diligence and approves disbursement instructions.
• Prepares funding requests for accounting approval and Fed Wire entry.
• Coordinates with Loan Settlement on payoffs and ensures data integrity.

Skills

Data verification

Attention to detail

Confidentiality

Education

Bachelor's Degree

Job description

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.