Mortgage Loan Processor jobs in Watertown, SD

POSITION SUMMARY

Responsible, under limited supervision and in accordance with established policies and loan processing procedures, to process, close, and disburse residential real estate loans. Ensures accuracy and timeliness of all files relative to commitment and closing dates and bank processing and closing goals. Retains and utilizes mortgage operation manual. Assists in training of less experienced Mortgage Loan Processors. Develops and maintains effective working relationship with other departments in the lending division, real estate agents, borrowers, and other related outside contacts. Receives and responds to inquiries from customers and staff in a timely and accurate manner. Adheres to Central Bank's policies and procedures, underwriting requirements, as well as state and federal regulations.

ESSENTIAL DUTIES AND RESPONSIBILITIES

The essential functions include, but are not limited to the following:

• Assess new loan applications and clients overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information
• Verify all required disclosures are provided on time and meet compliance
• Set up file and order, follows up on, and reviews for accuracy credit report updates, income/employment verifications, surveys title and lien searches, property appraisals and other required documents and inspections
• Submit loan package to underwriter ensuring that loans meet portfolio or investment guidelines
• Serve as liaison between underwriters, loan officers, closing companies and customers
• Access computer system to pull account histories, payoffs, etc.
• Ensure final loan approval in a timely manner to meet scheduled closing dates
• Review closing documents to ensure clear title, correct homeowner insurance
• Request information needed to complete a closing statement
• Forward loan documents and instructions to closing department
• Prepare closing documents according to lender product guidelines
• Review and balance HUD 1 Settlement statement and appropriately disburse loan funds
• Complete HMDA Forms and Escrow Letters
• Follow-up on final loan packages ensuring properly recorded legal documents. Including title insurance/guaranty, and deliver completed and correctly stacked loan file to Central Bank's post-closing department
• Enter and update residential loan information on the tracking spreadsheets
• Verify all required documents are maintained for compliance tracking
• Perform all other duties as assigned

EDUCATION & EXPERIENCE

• Associates degree required or equivalent work experience
• Minimum of one (1) year of experience in similar job duties