What are the responsibilities and job description for the Warehouse Lending Specialist position at First Bank-MO?
About this Role
The Warehouse Lending Specialist position will be a position that is client-facing with internal duties and responsibilities. This person will be expected to correspond to clients in a timely, respectful, and professional manner.
Funding - Warehouse Lending Specialist will work in unison with peers in managing the funding requests, processing additional wires, new title agent approvals, and end of day reporting requirements.
Collateral - Warehouse Lending Specialist will receive, process, and release all collateral(notes). This role is responsible for the safekeeping of the note, in a fire-proof vault, while the note is in First Bank’s possession.
Settlements - Warehouse Lending Specialist will assist in processing daily settlements and help manage the flow of settlement wires to ensure the GL’s balance daily.
- This is a Funding role within Mortgage warehouse lending.
- Mortgage Warehouse knowledge is a plus but not required.
- Basic knowledge of industry products is preferred.
Key Responsibilities
- Responsible for corresponding with clients in a timely, respectful, and professional manner and to meet the daily demands of SLA’s.
- Must be able to adhere to the various types of funding requirements per the industry product codes/document types.
- Must be able to process loan settlements to balance to GL’s daily.
- Receives, processes and ships collateral to the final takeout investor. Ensures the collateral meets all requirements for the selected takeout investor.
- Must confirm borrowers signatures are original, not copies. Ships all daily collateral release requests and makes the daily mail drop, on or off site.
- Manages the missing collateral report by tracking Promissory Notes that have not been received within the period allotted.
- Completes the MERS assignment in the MERS database (members.mersinc.org), when applicable.
- Maintains current and accurate Investor endorsement verbiage at all times. Engages in frequent communication with management and client’s shipping team to keep abreast of any pertinent investor changes.
- Will assist in processing settlements, daily.
- Cross-trains with other departments to assist when other team members are out.
- Completes, and passes, all required regulatory compliance training as assigned by the Bank.
KNOWLEDGE, SKILLS & ABILITIES
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- Meticulous with the ability & desire to learn new tasks.
- Accurate and efficient in work abilities.
- Strong, courteous, and professional communication skills.
- Self-sufficient and not afraid to ask questions for guidance.
- Ability to stand for extended periods of time.
- Ability to multi-task frequently.
- QUALIFICATIONS/EXPERIENCE
- High School diploma or equivalent.
- Must be proficient in Microsoft Office product Suite. Outlook, Word, & Excel.
- Experience with or the ability to quickly learn the banks Warehouse System of record.
- Must be familiar with loan documentation or ability to be trained quickly.
- Prior mortgage warehouse lending experience preferred, but not
WORKING CONDITIONS:
Generally works in an office environment or from a remote home office.
PHYSICAL REQUIREMENTS:
☒Must be able to remain in a stationary position up to 75% of the time.
☒Must be able to occasionally move about inside the office to access file cabinets, office machinery, etc.
☒Continually operates a computer and/or other office equipment, such as a copy machine, printer, etc.
☒Frequently communicates with peers and clients. Must be able to exchange accurate information via phone, TEAMS chat, email or in person.
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Compensation Disclosure
The range for this role takes into account many factors that First Bank considers when making hiring decisions, including but not limited to prior experience, skill set, training, and other internal business and organizational factors. First Bank generally does not hire at or near the top of the stated range. The range is driven by the geographic location of the anticipated hiring location; however, the specific range may vary depending on the geographic location for remote positions. Compensation decisions depend on the specific facts and circumstances of each hiring instance.
A reasonable estimate of the current pay range is $25.00 - $30.00
Salary : $25 - $30