Loan Funding Specialist

Chelsea, MA 02150, USA Req #114
Monday, March 29, 2021

Loan Funding Specialist - Mortgage Funding Experience


The objective of the position is to perform a variety of routine duties to fund all types of Consumer Loans, Mortgages and Commercial loans, as well as service Credit Union members, Dealers, Vendors, and Attorneys related to loan closings.


  • Review new loan documents for accuracy on a variety of Consumer, Mortgage and Commercial products, prepare required paperwork ensuring correct loan terms and parameters prior to boarding loans to core system, verify all member information, ensure documents are in compliance with government regulations and Credit Union policies
  • Notify parties involved of any discrepancies, follow up until issues are resolved. Provides support to front line staff in regards to loans documents and closing/funding procedures
  • Verify membership eligibility prior to setting up member accounts, opening a new checking/savings accounts on host system, process member applications, ID cards, perform OFAC and Chexsystems member review, order checks for checking accounts and lines of credit.
  • Accurately collects and posts fees, escrow, etc. associated with a particular product to general ledgers. Process ACH file, wires or other forms of loan disbursement/loan proceeds to dealers, attorneys, members, etc. Performs required loan maintenance post closing.
  • Provide support to Indirect and Commercial Sales staff, front line Retail, and originations staff regarding funding requirements and procedures.
  • Respond promptly to all inquiries regarding loan set ups, requests for research on pending or funded loans, adjustments, update contact information. Process follow up letters and loan dcouments to inquiries. Prepare and mail correspondence to new and existing members.


Ability to make sound judgment decisions regarding proper loan documentation and must be able to identify and resolve inconsistencies and accuracy issues.


Education and Experience

üHigh school diploma or equivalent with previous consumer, mortgage and/or commercial lending processing experienced required


üAbility to learn and understand lending regulations.

üGeneral knowledge of computer software; data input skills..

üExperience with Windows based applications.

üAble to perform work with accuracy and attention to detail.

üAble to present information in a clear and easily understood manner.

üAble to work in a fast-paced environment.

üUses common courtesy and professionalism.

Working Conditions

üGeneral office environment.

Other details

  • Pay Type Hourly
  • Chelsea, MA 02150, USA