Loan Funding Specialist

Job Description

Job Description

Who We Are

At Newrez, we bring big thinkers and caring doers together to make home happen. We’re a team built on heart and hustle, united by a commitment to show up for our customers, our communities, and each other. We believe that when our people thrive, homeowners thrive - and that’s why we invest in your growth, wellbeing, and ability to make an impact.

Every day, we work to exceed the expectations of our residential mortgage borrowers and business partners through superior service, simple processes, and clear communication. We do this by empowering our employees, encouraging innovative solutions and recognizing great performance.

POSITION SUMMARY

The Funding Specialist is responsible for preparing loan files for funding and coordinating with third parties to ensure loans are funded accurately and on time. This role reviews all documentation for completeness, validity, and compliance, facilitates monetary disbursements, and resolves funding-related issues while maintaining a high level of internal and external customer service.

DESCRIPTION

File Preparation & Funding Execution

• Prepare loan files for funding.
• Review all title requirements and recordable documents for accuracy, validity, and insurability.
• Release and/or set up wires for disbursement and print checks as required.
• Complete final funding processes including overnight checks, booking or posting wires and deposits, wire confirmations, and preparation of FFD paperwork.

Vendor, Partner, and Customer Coordination

• Work with vendors, attorneys, and partners to facilitate timely loan funding.
• Maintain correspondence with clients and borrowers to obtain corrections and trailing documents as needed.
• Communicate delays, exceptions, and issues to customers through review of exception reports.

Monitoring, Reporting & Issue Resolution

• Report discrepancies, shortages, funding errors, or issues immediately.
• Follow up on daily deposits, delayed fundings, escalations, funding issues, funding exceptions, stale checks, and file balances.
• Assist with file balances and resolution of stale checks.

Post-Funding & Compliance Support

• Perform RDC deposits and Positive Pay activities.
• Mail payments, scan documents, follow up on tax payments, and handle remittance corrections.
• Maintain compliance with wire and check policies.
• Assist with post-closing, recording, and policy issuance as necessary.

Qualifications and Education Requirements

• High school diploma or equivalent required.
• Minimum of 2 years of experience in a title, mortgage, or financial services company required.
• Detail-oriented with strong organizational skills.
• Ability to work under pressure and meet deadlines while maintaining a positive attitude and exemplary customer service.
• Ability to work independently and complete assignments within established guidelines and standard practices.
• Working knowledge of Windows-based applications, including Microsoft Word, Excel, Outlook, and Internet-based tools.

Skills, Abilities, and Knowledge

• Strong problem-solving and clerical perception skills.
• Ability to manage multiple tasks with accuracy and efficiency.
• Proficiency with computer systems and virtual display terminals (VDT).
• Strong communication skills, both verbal and written.
• High level of professionalism, integrity, and attention to detail.

Work Environment and Physical Requirements

• Working on-site at assigned office location.
• Regular and punctual attendance adhering to schedule established by leadership.
• Sedentary work in a stationary position at a cubicle for prolonged periods of time.
• Constant repetitive motions required for operating a computer, such as typing and managing phone calls.
• Constantly communicating effectively verbally in English, including accurately exchanging information with others following identification of correct procedures.
• Light lifting: 20–25 lbs.
• Light carrying: 10–25 lbs.

Additional Information:

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Microsoft Authenticator. Employment will be contingent on this requirement.

Why Newrez

We’re a great place to work because we invest in what matters: your career, your community, your wellbeing, and your future. Our total rewards package is designed to support your whole self.

Company Benefits:

We offer benefits, programs, and perks that support you in every aspect of your life.

• Medical, dental, and vision insurance

• Health Savings Account with employer contribution

• 401(k) Retirement plan with employer match

• Paid Maternity Leave/Parental Bonding Leave/Caregiver Leave

• Adoption Assistance

• Tuition & Certification reimbursement

• Employee Mortgage Loan Program

• The Newrez Employee Emergency and Disaster Fund is a program to support our team members experiencing hardships

Newrez NOW:

Through Newrez NOW, our Corporate Social Responsibility program, you’ll have opportunities to give back, lead, and make a difference.

• 1 company-paid Volunteer Time Off day (with over 40,000 volunteer hours contributed since our inception)

• Matching Gifts Program - dollar-for-dollar up to $1,000

• Access to grants, nonprofit resources, and volunteer opportunities

• More than $6,000,000 donated since 2020

• 1 in 5 employees participates in at least one Employee Resource Group (ERG)
  

Equal Employment Opportunity 

We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

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