Mortgage Loan Processor

Mortgage Loan Processor

Rockville, MD

Capital Bank N.A. is headquartered in Maryland and has been serving our communities since 1999. We stand as a publicly traded company with over $3 billion in assets. We offer commercial and consumer banking services to clients primarily in Maryland, DC, and Northern Virginia, alongside two nation-wide lending brands; Capital Bank Home Loans and OpenSky, a credit card division that offers and services credit cards across all states. Our personalized approach to banking, paired with cutting-edge technology solutions and a comprehensive suite of products and services, fuels our growth, and enables us to support our customers at every stage in their financial journey.

Come join a bank where our employees thrive and are engaged in meaningful work. For the last 6 out of 7 years, Capital Bank was named one of the "Best Banks to Work For" in the U.S. by American Banker.

Position Purpose

The Mortgage Loan Processor works closely with loan originators to process mortgage loans in order to provide a best-in-class customer experience. The Processor receives the application online and must have the ability to quickly review for accuracy and completeness, advise the LO as to viability of loan at first glance and then must acquire necessary documents to submit to underwriting for final approval.

Position Responsibilities

• Gathers and analyzes documentation and other information to take each loan application from once setup to closing
• Contacts borrowers and referral sources as an introduction within 3 days of receipt
• Reviews all income documentation to ensure that is accurate and supports the guidelines in place for a specific loan product
• Reviews product guidelines to make sure that the loan fits and the necessary documentation is obtained, including:
• Verify 2 years of continued employment – document any gaps
• Review asset documentation
• Review credit report
• Review appraisal
• Review title work
• Review hazard insurance
• Obtain payoffs on refinances by contacting current mortgage holder
• Make sure all documentation is legible
• Obtain all required certifications from agent – termite, well, septic, etc. and review upon receipt. Actions as needed.
• Monitor daily closing schedule and make sure all loan are scheduled – if not scheduled notify Title Company, Agent and/or Loan Officer and schedule with closing department
• Submit loan to underwriting in appropriate file order
• Clear all Prior to Closing conditions. – Loans must be "clear to close" at least 48 hours prior to closing
• Advise borrower of loan decision and any required conditions
• Inputs proper loan information into Encompass so that data and supporting documentation are accurate.
• Contacts borrowers to obtain additional documentation as necessary to meet loan guidelines
• Follows Processing procedures as designated by Processing Manager
• Must meet crucial deadlines such as financing contingencies and closing dates
• Works with the MLO and/or LOA regarding missing/requested items
• Updates conversation logs in Encompass

Minimum Education & Experience

• 3-5 years experience in a loan processing role with experience handling loans from start to finish.
• Recent experience in the mortgage industry as an assistant, loan processor or loan officer is preferred.
• Experience communicating with borrowers regarding lending requirements.
• Experience processing conventional, FHA and VA loans.
• Experience with Encompass software is required.

Technical Knowledge and Skills

• Strong background in calculating income is preferred.
• Proficient in Microsoft Office Suite including Word, Excel, PowerPoint and Outlook.
• Excellent verbal and written communication skills.
• Proven customer service ability is required.
• Must have knowledge of lending terminology and the ability to effectively communicate to borrowers.
• Knowledge of underwriting would be helpful.
• Independent worker that can produce results
• Ability to take initiative
• Ability to work in a fast-paced environment and deliver accurate results.

Compensation

• Base Salary Range : $25.51 - $35.71 hourly. Final determination of where you are at in the salary range is based on numerous factors such as geographical location, relevant experience, skill set, education, and ability to meet qualifications within the job description.
• Additional Compensation : This role will include a yearly annual target bonus based on individual performance.

Working Arrangements

• 100% in office role within our District of Columbia (DC)

Why Join Us?

• Join a growing company with a culture that fosters an entrepreneurial spirit
• Comprehensive benefits package including Medical, Dental, Vision, Company Paid Life Insurance, Disability Insurance, and more?
• Company Contributions to your 401k - Regardless of your contribution
• Employee Perks: Paid Parental Leave, Employee Recognition Program, Leadership Program, Tuition Reimbursement Program, Employee Bank Checking Account, and much more!
• Generous Paid Time Off and Paid Holidays - Including Paid Charity Hours to support volunteer opportunities

Supporting Businesses. Helping People. Strengthening Communities. Capital Bank, N.A. is an E-Verify, Affirmative Action and Equal Opportunity Employer.