Job Description

JOB DESCRIPTION:

LoanStream Wholesale is the "One Lender" for wholesale market. We span both Prime and Non-Prime lending effortlessly and make it easy for our broker partners to get their loans funded for their clients and real estate partners. Our leadership team has decades of experience, from top-tier lenders, dedicated to growing the careers of our associates, and growing our company.

Our teams thrive on a positive attitude, a constructive working environment, and a culture of getting the loan done, the right way – the first time. From our Sales teams to our operations teams, our associates are trained to succeed at their roles and support our broker partners every step of the way.

We are expanding: We just opened a NEW LOCATION opening October 1, 2020. Come be apart of our growing family!

THE SCOPE:

The primary role of the Loan Funder/Doc Drawer is to oversee the funding and doc drawing on a company wide basis. Funder Doc/Drawer reviews final docs, issues conditions as necessary and to prepare, upload and request funding wires from the company warehouse lines, uploads closed packages to the take-out investors. Funder/Doc Drawer is responsible for clearing the underwriting and closing conditions from the warehouse line to facilitate loan purchase, is responsible to confirm recording has occurred for each respective loan, to prevent floating wires and MUST reconcile all Closing Disclosures against the Settlement Agents Settlement Statement.

The function of the Loan Funder is to analyze loan documents, employment, homeowner’s insurance, flood insurance and documentation from escrow/title in order to render a decision in accordance with company guidelines and standards for quality, risk and profitability as well as calculate and disburse funds.

Issues initial Closing Disclosure as necessary to facilitate and adhere to the posted turn times. Also, will back up the Shipping & Insuring department for issuing final MIC and delivery of closed loan packages

KEY RESPONSIBILITIES

• Record date/time loan docs are returned in Encompass
• Email Loan Officer and Loan Processor when loan docs are received;
• Audit loan documents, Use Loan Doc Check In Sheet to verify accuracy of the closing statement, insurance, loan docs, and other items as stated on the form;
• Update Encompass with missing conditions;
• Email Loan Officer, Loan Processor and Escrow/Title with list of outstanding items;
• Ensure conditions are reviewed within 24-48 hours of funding;
• Sign off “at closing” conditions in Encompass and prepare funding figures;
• Request wire from warehouse banks;
• Record Funding Dates in Encompass and insure all data entry (including HMDA) has been completed;
• Send collateral to the warehouse bank within 24 hours of funding;
• Register loan with Mortgage Electronic Registration System (MERS);
• Wet state closings require follow up the day following funding to verify original loan docs are being returned to OCM Bancorp in a timely matter;
• Perform Loan Doc Specialist and Loan Shipper responsibilities in the event of employee absence or increased volume.
• Based of the business needs overtime may be required.

PROFESSIONAL EXPERIENCE, EDUCATION, AND QUALIFICATIONS:

• 2 years related experience in mortgage as a Loan Closer
• Must be knowledgeable in the guidelines and TRID
• Excellent oral and written communication skills
• Must be reliable with strong work ethics.
• Attention to detail
• Excellent computer skills
• Ability to work independently

PERKS:

• Flexible benefits package including 401K
• Impressive compensation packet.
• Remote positions with full support staff
• Great environment- covered parking, near the airport, music, laughter, and good energy.

WORK LOCATION:

• Remote during COVID- or In- house

COMPANY'S WEBSITE:

• www.Loanstreamwholesale.com

JOB TYPE: FULL-TIME

COVID-19 CONSIDERATIONS: To keep our employee's safe as possible, we have hand sanitizer through-out the building, provided masks, gloves and have the building sanitized twice a month.

Company Description

Our team thrives on the positive work environment we foster. Our mission of getting the loan done the right way, the first time, resonates with every employee within the organization. We continue to enhance the loan process by integrating the most advanced technology, attracting the best talent in the industry and trusting our staff to always “do the right thing.”