Retail Mortgage Funding Post Closing Specialist at M&T Bank

San Francisco, California, United States

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Not SpecifiedCompensation

Entry Level & New Grad, Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Mortgage, Financial ServicesIndustries

Requirements

High school diploma or equivalent
Two to five years general business experience
Two to five years specialized experience
Ability to operate a keypad device 80-90% of the day
Ability to operate electronic equipment/office equipment 80-90%
Ability to sit 80-90% of the day
Ability to travel to alternate work locations 10-20% (including overnight stays 10-20%)

Responsibilities

Coordinates with the settlement agent for timely loan fundings and disbursements
Disburses and authorizes new loan proceeds to settlement agents upon receipt of required documentation
Disburses and authorizes construction draw requests to Builders/Contractors upon receipt of required documentation
Sends checklist and documentation to the Retail Mortgage Construction Administrator
Ensures accuracy of wire instructions provided by Closing Companies and/or Builders
Maintains a personal identification number (PIN) for initiating and confirming wire transfer requests in compliance with corporate policy, including documenting proper approvals and customer confirmation callbacks
Posts fees to appropriate General Ledger accounts in accordance with corporate policy
Reviews all funding documents and prior to funding (PTF) conditions to ensure all funding requirements are met per the funding transmittal provided at the time of closing
Assembles and delivers short list of loan documents to Loan Servicing in required order for all loan fundings
Exports loan file to CCMC for Loan Servicing
Completes entry to Closed Loans Received List on shared drive
Maintains accurate tracking of funded loans and changes loan statuses in the loan origination system
Reviews all closed loan documents received from the settlement company to ensure all documents are returned, signed, dated, and initialed where applicable
Assembles and delivers closed loan files to Loan Servicing in required order
Identifies document errors and follows up with settlement agents for missing or deficient documentation and conditions
Tracks exceptions in the loan origination system with appropriate follow up
Maintains accurate tracking of items on the funding log/clipboard and closed loans by originators
Accurately changes loan statuses in the loan origination system
Tracks correspondent loan due dates for Loan Records
Ensures all loan documents listed on the Document Audit checklist are received
Ensures all loan conditions outstanding at closing are satisfied
Reviews correspondent documents for accuracy and completeness
Maintains exception tracking log for pended correspondent items
Assembles closed correspondent loan files for delivery to the Loan Records Department
Completes required checklist(s) per job duty and uploads to the loan file for retention
Maintains a good working relationship with bank employees and demonstrates strong interpersonal skills to work independently and as a team player
Performs additional duties as required

Skills

wire transfers

mortgage funding

loan documentation review

compliance

General Ledger posting

loan origination system

document validation

settlement coordination

M&T Bank

Full-service banking for individuals and businesses

About M&T Bank

M&T Bank provides a variety of banking services to individuals, small businesses, and larger companies. Their offerings include mortgage assistance, personal and business checking accounts, and mobile banking options. The bank primarily operates in the Northeastern and Mid-Atlantic regions of the United States, emphasizing community engagement and a focus on customer service. M&T Bank's business model is based on traditional banking practices, such as loans, deposits, and investment products, and it generates revenue through interest income and service fees. A key aspect that sets M&T Bank apart from its competitors is its commitment to community involvement, which includes allowing employees to volunteer and supporting local organizations. The recent merger with United Bank, N.A. has further expanded their services and market presence.

Buffalo, New YorkHeadquarters

1993Year Founded

IPOCompany Stage

Financial ServicesIndustries

10,001+Employees

Risks

Competition from fintechs could erode M&T Bank's market share among tech-savvy customers.

Integration challenges from the United Bank merger may disrupt operations.

Decreased prime rate could reduce interest income, impacting profitability.

Differentiation

M&T Bank emphasizes community engagement through its charitable foundation and volunteer programs.

The bank offers a wide range of traditional and digital banking services.

Recent merger with United Bank, N.A. expands M&T's market reach and service offerings.

Upsides

M&T Bank's $1.5 billion senior notes offering strengthens its financial position.

Decreased prime rate may attract more borrowers, increasing loan volume.

Shannon Lazare's appointment as New Jersey Regional President enhances local community engagement.

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