Mortgage loan funders perform a variety of tasks at mortgage firms. They typically will be working in an office setting environment, where they answer client questions over the phone and prepare loan closing documents. Typically, they will also be required to call banks and credit companies and make sure all the funding is ready and in place for a mortgage loan. Mortgage loan funders typically work nine to five shifts but may be needed for extra hours or weekends, depending on the volume of closings for that week.
Funders will typically have a few co-workers sharing similar duties and will almost always report to a supervisor. The job of the supervisor is to oversee the whole mortgage loan process, and the funders will be assisting the supervisor with obtaining any information they need in order to make a final decision. Funders will be working with clients all of the time, so they will need to be courteous and work well with others. The typical day involves entering information into a computer, calling clients, cross-referencing financing information, and assisting the supervisor with whatever other tasks may need to be completed.
The position can be quite technical, so experience is a must. A college degree is not mandatory. However, many of the required regulations are only covered in classroom or technical training sessions, so additional training courses may be required. Candidates will need to know how to navigate the Microsoft Office Suite, as they will be referencing client information that is entered into databases.
Mortgage Loan Funder Tasks
Ensure that loans are funded.
Oversee processing of closing documents for loans.