MetaBank Loan Processor in Sioux Falls, South Dakota
Support the lending staff in the processing of loan originations. Prepare and verify the accuracy of documentation necessary to process, close and fund mortgage & consumer loans. Prepare early disclosures, closing disclosures, closing documents, process verifications & disbursements and follow through on designated post-closing process.
Essential Job Functions:
- Receive completed application from Lender and review for completeness.
- Prepare disclosures Loan Estimate (LE) and Closing Disclosure (CD) and order necessary verifications, appraisal and flood determination.
- Track documentation pertinent to the loan file including reviewing information for completeness and validity.
- Monitor progress of critical documents received (i.e. appraisal, title evidence, flood insurance and other verifications) and re-submit as necessary to ensure documents are accurate and received in a timely manner.
- Review the loan file before closing to ensure that all pre-close requirements are met and that pertinent fees, documents, checklists, invoices etc. are reflected appropriately.
- Review title evidence for completeness and determine any inconsistencies and communicate to the Lender or settlement agent to final updates.
- Update the closing calendar for consumer and mortgage loans as requested by Lender
- Prepare all notes, mortgages, riders, closing statements, etc. in connection with each closing and forward to Lender or Settlement Agent.
- Export funded loan for Loan Servicing to book new loan on platform system.
- Setup activity tracker to ensure proper final recorded mortgages and title insurance is received.
- Process loan interest rate locks.
- Request hazard insurance from borrower’s insurance company ensuring proper coverage and mortgagee clause is documented.
- Communicate with the Lender and Settlement Agent throughout the loan process to keep abreast of any changes prior to closing and ensuring all documents are accurate.
- Maintain an up-to-date knowledge of all changes to closing guidelines, policies and procedures, and government regulations.
- Perform other duties as assigned.
- Associate degree in a business or finance related field of study preferred and/or 2-3 years of Loan Processing experience required.
- Knowledge of residential and consumer loan documents, policies and practices as well as laws and regulations applicable to loan programs and closings.
- Encompass and Laser Pro loan system background a plus
Department: 400-Retail Bank Operation
Location: Sioux Falls, SD