South Dakota Jobs

South Dakota Department of Labor & Regulation mobile logo

Job Information

MetaBank Loan Processor in Sioux Falls, South Dakota

Job Summary:

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.

Job Qualifications:

  • 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