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Loan Delivery Team Lead

Company: Valley Bank
Location: Wayne
Posted on: April 10, 2021

Job Description:

The Loan Delivery Team Lead is a senior team member position which performs all daily loan delivery tasks and oversees department workflow of coworkers. Ensure loan delivery and funding requirements are met, mentors and trains team members and reports updates to management. Responsibilities include, but are not limited to:

  • Ensure proper documentation and data is delivered to investors accurately and timely for commitment funding. Proactively monitor expiring commitment dates, prioritize entire department's loan delivery workload accordingly. Monitor reports for pending conditions. Work with Residential Mortgage Operations and the investor to obtain accurate data or documentation and clear pending conditions in a timely manner.
  • Manage the relationship with Document Custodian to ensure all collateral is delivered/certified timely and accurately.
  • Responsible for knowing the loan delivery guidelines and meeting the unique loan delivery requirements of each investor and their various systems, including FNMA/FHLMC, FHA, VA, USDA, State Housing Agencies, and Private Investors. Keep up to date with industry and investor loan delivery guideline changes. Ensure coworkers can comply, address related questions.
  • Responsible for ULDD, upload from LOS and clearing edits. Handle UCD, coordinate/clear edits with Operations as necessary.
  • Prepare/stamp original notes for endorsement, prepare assignments, obtain notarization, and initiate bailee letters.
  • Receive and prove-out investor funding advices, reconcile any differences. Ability to understand investor LLPA's. Generate internal P&L tickets that prove to investor funding advices.
  • Ensure LOS/Loan Sales Platform is updated with delivery and funding information in a timely manner.
  • Conduct post purchase adjustments with investor to correct inaccurate funding, track to ensure corrected funds sent or received.
  • Responsible for all journal entries and other loan delivery related general ledger/accounting functions.
  • Work closely with Loan Servicing Dept to pull original notes, scan/photocopy, create and return collateral file folder, and on any post-closing related document follow-up matters including final documents.
  • Oversees the workflow of the team, assignment delegation, training and performance feedback to management.
  • Sponsor/Facilitator of innovation and process improvements.
  • Assist with special projects as needed per management.

Keywords: Valley Bank, Wayne , Loan Delivery Team Lead, Other , Wayne, New Jersey

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