Great Western Bank Mortgage Processor II in Sioux Falls, South Dakota

General Description and Essential Functions

General Description and Essential Functions

The Mortgage Loan Processor II is responsible for a timely and seamless closing and funding of the loan transaction.This will involve obtaining all necessary documentation as well as ensuring compliance with bank, regulatory, secondary market and investor guidelines.

• Reviews loan files received from processing thoroughly verifying accuracy and consistency on documents such as purchase agreements, title, appraisal and homeowners insurance

• Verifies and updates details of the loan into the system to correspond with supporting documents in the file

• Ensures all fees and costs are accurately calculated

• Prepares closing instructions and coordinates with title company

• Reviews and approves the loan closing disclosure

• Coordinates with mortgage loan officers and escrow company’s on closing disclosure approval

• Ensures all closing conditions are met per investors guidelines

• Prepares loan closing documents to send to the escrow company completing the closing

• Calculates and confirms loan proceeds with the escrow company. Disburses loan proceeds in an accurate and timely manner

• Funds the loan after verification of signed documents

• Registers the loan with Mortgage Electronic Registration System (MERS)

• Pays Federal Housing Administration (FHA), Veteran’s Administration (VA) funding fee and upfront/split mortgage insurance premiums

• Activates mortgage insurance and transfers servicing to new investor

• Creates CIF’s for customers not in the system

• Updates primary address on CIF’s with banker on account if the address is not current

• Provides training and guidance for new closers

• Perform other job-related duties or special projects as assigned

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information.