Mortgage Loan Processor
Central Bank
Date: 1 day ago
City: Sioux Falls, SD
Contract type: Full time
Description
POSITION SUMMARY
The Mortgage Loan Processor is responsible for efficiently processing, closing, and disbursing residential real estate loans in accordance with Central Bank’s policies, procedures, and regulatory guidelines. Working with minimal supervision, this role ensures the accuracy and timeliness of loan files to meet commitment and closing deadlines, as well as departmental goals. The Mortgage Loan Processor collaborates with internal departments, real estate agents, borrowers, and other external partners while ensuring timely communication, regulatory compliance, and adherence to underwriting requirements.
Essential Duties And Responsibilities
The essential functions include, but are not limited to the following:
Loan Processing & Coordination
EDUCATION & EXPERIENCE
POSITION SUMMARY
The Mortgage Loan Processor is responsible for efficiently processing, closing, and disbursing residential real estate loans in accordance with Central Bank’s policies, procedures, and regulatory guidelines. Working with minimal supervision, this role ensures the accuracy and timeliness of loan files to meet commitment and closing deadlines, as well as departmental goals. The Mortgage Loan Processor collaborates with internal departments, real estate agents, borrowers, and other external partners while ensuring timely communication, regulatory compliance, and adherence to underwriting requirements.
Essential Duties And Responsibilities
The essential functions include, but are not limited to the following:
Loan Processing & Coordination
- Assess new loan applications and clients' financial situations by reviewing income, assets, debts, expenses, and credit reports
- Set up loan files and order, track, and review necessary documents such as credit reports, verifications, title searches, appraisals, and inspections
- Serve as liaison between underwriters, loan officers, closing companies, and customers
- Submit loan packages to underwriters, ensuring adherence to portfolio or investment guidelines
- Enter and update loan information in internal tracking systems
- Verify timely and compliant delivery of all required disclosures and documents
- Maintain accurate and complete documentation for compliance tracking
- Complete regulatory forms such as HMDA and Escrow letters
- Access systems to pull account histories, payoffs, and other loan-related data
- Ensure timely final loan approvals to meet scheduled closing dates
- Review and prepare closing documents to ensure title, insurance, and settlement accuracy
- Balance HUD-1 Settlement Statements and disburse loan funds appropriately
- Follow up on final loan packages to ensure receipt of properly recorded legal documents
- Deliver completed loan files to the post-closing department
- Perform other related duties and responsibilities as assigned by management.
EDUCATION & EXPERIENCE
- Associates degree required or equivalent work experience
- Minimum of one (1) year of experience in similar job duties
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