Mortgage Funding Administrator

JoiningMCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering,a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

This position is responsible for contributing to the success of MCAP while funding various types of single-family residential mortgages, including bridge financing.

The Closing Coordinator will be required to ensure data integrity of legal documents and client identification documents.

The Closing Coordinators are vital in promoting a professional image to all our business while building and maintaining quality relationships.

This position will be responsible for reviewing documentation within prescribed service levels agreements, ensuring compliance with MCAP lending guidelines and identifying any issues so that MCAP, our clients and investors are  addition to reviewing documentation, this role is also accountable for clearing the applicable administrative system tasks.

The Closing Coordinator will also receive and administer all phone calls and emails from law firms and Title Insurers from the instruction stage through to the funding stage. The Closing Coordinator will be required during this process to provide detailed information and training to various paralegals and law firms on how to complete our documentation and be able to answer any questions they may have about the transaction.

The position is responsible to prioritize the instructing of the file and review all the completed mortgage documents and any from the law firm, Title insurers and Underwriters based on client requests. They are required to understand the transaction, the changes and ensure these meet all our policies. All of the job requirements must be met while providing superior customer service to the law firms, title insurers and internal staff.

• Review and verify loan documents and information provided by solicitors, notaries or title insurers, to ensure all pre-funding requirements are met in time for the funding date.
• Ensure fully completed Customer Identification (Know Your Client) documentation is provided prior to funding.
  
  Identify that the down payment and employment indicated support the information in the file.
  
  Ideally, this is provided within 48 hours prior to closing at minimum.
• Upon receipt of Mortgage Drafts and Request for Funds, review closing dates on documents provided against what is noted on the system to confirm dates have not changed or refer the file back to the Solicitor
• Review and ensure the first payment date mirror the committed terms as well as correctly identify if client is responsible for property taxes before advancing funds.
• Ensure the names on the draft mortgage, Customer Identification Verification Form all match to what we have on file, and note any supporting AKA if name differs from application at time of review.
• Confirm subject property and mailing address, match to what is on the system.
  
  If the address differs and an unsatisfactory explanation is provided by the solicitor, file is escalated to the underwriter or manager for review.
• Ensure all tasks related to the documentation review are completed in accordance with the system requirements/procedures set out per brand, including rate expiry dates.

• Manage daily funding reports and prioritizing files based on closing date, then time of document to ensure we are within SLA.
• Respon…