Mortgage Loan Funder - Mortgage Lending
Orion Federal Credit Union, Lauderdale Courts, Tennessee, United States
Position Purpose
Position is responsible for planning, preparing, and organizing real estate loan files to ensure accurate and expeditious loan closings/fundings. The role ensures all documentation complies with secondary market, TRID, and OFCU requirements, service standards, and values.
Essential Functions and Basic Duties
Review all loan documents for completeness and accuracy.
Act as the secondary market coordinator for loan delivery, validation of rate locks, pricing, rate sheet distribution from all investors, and distribution of funding advice memoranda to management.
Complete pre‑closing review of all documents for delivery to investors, ensuring that specific loans are in the proper stacking order for individual investors.
Complete post‑closing review for submission to a third‑party mortgage reviewer pursuant to the Orion FCU quality control policy.
Act as a liaison between Orion FCU and various investors for post‑closing issues impacting the sale of loans on the secondary market; provide timely responses and rebuttals to ensure loan pricing is completed within lock periods.
Prepare rebuttals to investors to clear their objections and produce a report of all funding advice received for management to track net gain on sales to various investors versus locked projections.
Deliver loans to investors in accordance with best‑efforts rate lock timing, ensuring Orion FCU is not penalized financially for late delivery and confirming timely delivery with investors.
Act as a liaison between members, mortgage loan originators, processing team leads, closing agents, realtors, and title companies as it relates to loan closing.
Register loans through the MERS system and act as an administrator for MERS within Orion FCU.
Adhere to complex regulatory oversight with the implementation of the TRID Regulation.
Ensure quality and compliance of work with OFCU’s policies and procedures and investor (Fannie Mae) guidelines.
Maintain thorough working knowledge of OFCU’s and regulatory changes that affect the funding process.
Contact closing agents and members to schedule closings and determine all parameters and fees; ensure underwriter or manager sign‑off prior to funding and resolve any pre‑funding items.
Maintain a thorough working knowledge of sales contracts, title commitments, appraisals, flood certifications, HOI, 1003, rate lock sheets, payoff statements, TRID Closing Disclosure (CD), and all other applicable documentation involved in a real‑estate mortgage loan closing.
Verify and prepare wire transfer instructions, as well as verify loan amounts, fees, rates, discount points, rebates, and other funding amounts.
Input funding information into the mortgage loan origination system (LOS) and export data to create tracking records to member accounts.
Perform all other related duties as assigned.
Qualifications Education and Certification High school graduate or equivalent; bachelor’s degree preferred.
Experience Required Two or more years’ mortgage closing and funding experience under current CFPB’s TRID regulatory requirements; experience in the secondary market is a plus.
Knowledge, Skills, and Abilities
Knowledge of real estate principles, practices, rules, regulations, sales, and ability to interpret mortgage, title, escrow, insurance, and legal documents.
Understanding of TRID requirements.
Thorough attention to detail as the last person to review and fund loans.
Proficiency in Internet‑based loan origination software.
Knowledge of investor guidelines and compliance requirements.
Skill in operating personal computers with intranet and internet access, and office equipment.
Excellent verbal and written communication skills.
Ability to establish and maintain effective work relationships with internal and external contacts, including vendors and credit union employees.
Ability to act independently and confidentially, using discretion and tact.
Analytical skills to assess situations and recommend workable solutions.
Capacity to coordinate multiple activities simultaneously and prioritize work.
Desire to work in a team environment.
Working Conditions Typical office environment.
Successful candidates must pass pre‑employment credit checks, background checks, and drug screens.
Orion Financial is an equal‑opportunity at‑will employer and does not discriminate against any employee or applicant for employment because of age, race, religion, color, disability, sex, sexual orientation, national origin, or any other federal or state protected class. We maintain a drug‑free workplace and perform pre‑employment substance‑abuse testing. If you are unable to complete this application due to a disability, contact us to request an accommodation or an alternative application process.
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Essential Functions and Basic Duties
Review all loan documents for completeness and accuracy.
Act as the secondary market coordinator for loan delivery, validation of rate locks, pricing, rate sheet distribution from all investors, and distribution of funding advice memoranda to management.
Complete pre‑closing review of all documents for delivery to investors, ensuring that specific loans are in the proper stacking order for individual investors.
Complete post‑closing review for submission to a third‑party mortgage reviewer pursuant to the Orion FCU quality control policy.
Act as a liaison between Orion FCU and various investors for post‑closing issues impacting the sale of loans on the secondary market; provide timely responses and rebuttals to ensure loan pricing is completed within lock periods.
Prepare rebuttals to investors to clear their objections and produce a report of all funding advice received for management to track net gain on sales to various investors versus locked projections.
Deliver loans to investors in accordance with best‑efforts rate lock timing, ensuring Orion FCU is not penalized financially for late delivery and confirming timely delivery with investors.
Act as a liaison between members, mortgage loan originators, processing team leads, closing agents, realtors, and title companies as it relates to loan closing.
Register loans through the MERS system and act as an administrator for MERS within Orion FCU.
Adhere to complex regulatory oversight with the implementation of the TRID Regulation.
Ensure quality and compliance of work with OFCU’s policies and procedures and investor (Fannie Mae) guidelines.
Maintain thorough working knowledge of OFCU’s and regulatory changes that affect the funding process.
Contact closing agents and members to schedule closings and determine all parameters and fees; ensure underwriter or manager sign‑off prior to funding and resolve any pre‑funding items.
Maintain a thorough working knowledge of sales contracts, title commitments, appraisals, flood certifications, HOI, 1003, rate lock sheets, payoff statements, TRID Closing Disclosure (CD), and all other applicable documentation involved in a real‑estate mortgage loan closing.
Verify and prepare wire transfer instructions, as well as verify loan amounts, fees, rates, discount points, rebates, and other funding amounts.
Input funding information into the mortgage loan origination system (LOS) and export data to create tracking records to member accounts.
Perform all other related duties as assigned.
Qualifications Education and Certification High school graduate or equivalent; bachelor’s degree preferred.
Experience Required Two or more years’ mortgage closing and funding experience under current CFPB’s TRID regulatory requirements; experience in the secondary market is a plus.
Knowledge, Skills, and Abilities
Knowledge of real estate principles, practices, rules, regulations, sales, and ability to interpret mortgage, title, escrow, insurance, and legal documents.
Understanding of TRID requirements.
Thorough attention to detail as the last person to review and fund loans.
Proficiency in Internet‑based loan origination software.
Knowledge of investor guidelines and compliance requirements.
Skill in operating personal computers with intranet and internet access, and office equipment.
Excellent verbal and written communication skills.
Ability to establish and maintain effective work relationships with internal and external contacts, including vendors and credit union employees.
Ability to act independently and confidentially, using discretion and tact.
Analytical skills to assess situations and recommend workable solutions.
Capacity to coordinate multiple activities simultaneously and prioritize work.
Desire to work in a team environment.
Working Conditions Typical office environment.
Successful candidates must pass pre‑employment credit checks, background checks, and drug screens.
Orion Financial is an equal‑opportunity at‑will employer and does not discriminate against any employee or applicant for employment because of age, race, religion, color, disability, sex, sexual orientation, national origin, or any other federal or state protected class. We maintain a drug‑free workplace and perform pre‑employment substance‑abuse testing. If you are unable to complete this application due to a disability, contact us to request an accommodation or an alternative application process.
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