Mortgage Loan Associate

Central Bank•Sioux Falls, SD

About The Position

A Mortgage Loan Associate is responsible for processing mortgage loans, assisting loan officers with client relationships, and ensuring a smooth application process.

Requirements

Bachelor’s degree required or equivalent work experience.
2+ years of relevant work or internship experience in sales, service, or finance, preferred.
NMLS licensed or willing to be licensed within 60 days.

Responsibilities

Assist loan officers and serve as the primary contact during the "lead to contract" phase of the loan process and liaison between clients, referral partners, and the loan officer, and conduct meetings to coordinate any follow-up items.
Communicate with borrowers, real estate agents, and other parties to facilitate timely loan approvals.
Provide administrative support to loan officers, including scheduling appointments and preparing client correspondence.
Follow up with clients post-closing to ensure satisfaction and address any concerns.
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, follow up on, and review 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 Closing Disclosure 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.
Build and maintain strong relationships with customers, providing ongoing support and guidance throughout the loan process.
Offer various mortgage products and explain terms, rate, and repayment plan to customers.
Stay abreast of new types of loans and other financial services and products to better meet customers’ needs.
Perform all other duties as assigned.