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First International Bank and Trust Mortgage Construction Loan Processor in Sioux Falls, South Dakota

Mortgage Construction Loan Processor

Department: Mortgage Support

Location: Sioux Falls, SD

PT/FT/Temporary : Full Time

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First International Bank and Trust is recognized seven years in a row for being a Top 50 Best Places to Work isn-t just an award placed on the shelf. It speaks to the teams of colleagues who are dedicated to create extraordinary experiences based on the philosophy treating every customer like family.

Please see below for additional information regarding the Mortgage Construction Loan Processor position and submit your online application!

Position Summary: The Construction Loan Processor efficiently advances residential construction loans from submission to closing while ensuring adherence to industry and regulatory standards. Takes on a lead role in verifications, communications, and the collection of documentation for the home build process.

The Construction Loan Processor must have knowledge of Fannie, Freddie, FHA, VA & USDA loan products, a solid understanding of a complete residential loan application & proper loan submission in accordance with compliance and regulatory requirements. Must be able to review AUS results, income documentation, financial statements, and income & credit documentation.

Must have excellent organizational skills and attention to detail, along with the ability to skillfully and graciously communicate with customers and staff both verbally and in writing.

Essential Duties and Responsibilities include the following.

  • Develops and maintains successful relationships with internal and external referral sources

  • Requests and monitors the receipt of all contracts, plans, bids and all other documentation required

  • Orders inspections of home sites (orders and monitors appraisers/MLOs to make inspections) for all loan draws

  • Reviews and approves all construction plans and contractors to ensure they meet guidelines

  • Evaluates credit and terms in accordance with construction guidelines

  • Monitor loans to ensure complete conformity with terms and to ascertain any developing trends

  • Prepare various reports as requested

  • Meets with MLO/Customers, as necessary during various stages of the loan process

  • Provides complete loan applications, with all required supporting documentation, to operations team

  • Ensures an exceptional customer service experience by overseeing the loan process from loan close to home build completion and providing on-going communication to MLOs, Customers, and Builders.

  • Monitors that all documentation is received during the construction period and updates documents as required

  • Prepares and compiles documents for loan closing (2X) and submits to Mortgage Loan Processors or Underwriters for review.

  • Orders and reviews all documentation, i.e., credit report, paystubs, bank statements, etc., and immediately notifies Mortgage Loan Management of any irregularities.

  • Takes necessary follow-up actions to assure receipt of use and occupancy certificate, title insurance policy and assure the bank obtains original fire and flood insurance policy.

  • Assists customers with inquiries or problems and refers more serious matters to the Mortgage Loan Management.

  • Performs a variety of filing functions and preparation of various reports.

  • While their primary focus is construction financing, they should maintain up-to-date knowledge of all aspects of FHA, VA, Conventional Fixed-Rate, In-House, and Construction First Mortgage Loans.

  • Communicates with builders, title agencies, appraisers, contractors and other vendors in a friendly, professional manner.

  • Ability to meet productivity standards.

  • Responsible for compliance with all Federal regulations including Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC)

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required.

  • Banking experience preferred.

  • 3 years- experience in mortgage lending, construction lending preferable.

  • Good communication skills and ability to work in a group setting.

  • Must be able to exercise discretion and good judgment.

  • Must have the ability to multi task and handle multiple assignments.

  • Must be self-motivated, dependable and detail oriented.

  • Proficient computer skills, Microsoft and Excel required.

Education and/or Experience: High School Diploma or three years related experience and/or training; or equivalent combination of education and experience.

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