Mortgage Loan Processor
About Us
Capital Bank N.A. is headquartered in Maryland and has been serving communities since 1999. It is a publicly traded company (NASDAQ: CBNK) with over $3 billion in assets. Capital Bank offers commercial and consumer banking services to clients primarily in Maryland, DC, and Northern Virginia, alongside two nationwide lending brands: Capital Bank Home Loans and OpenSky, a credit card division that services credit cards across all states. Capital Bank is known for its personalized approach to banking, advanced technology solutions, and a wide range of products and services, which helps support its customers throughout their financial journey.
Position Purpose
The Mortgage Loan Processor works closely with loan originators to process mortgage loans, aiming to provide a superior customer experience. The Processor reviews applications for accuracy and completeness, advises the Loan Originator (LO) about the loan's viability, and gathers necessary documents to submit to underwriting for final approval.
Position Responsibilities
- Gathers and analyzes documentation and other information to move each loan application from setup to closing.
- Contacts borrowers and referral sources within 3 days (72 hours) of receipt.
- Reviews all income documentation to ensure accuracy and compliance with loan guidelines.
- Verifies 2 years of continuous employment and documents any gaps.
- Reviews asset documentation, credit reports, appraisals, title work, hazard insurance, and obtains payoff statements for refinances.
- Ensures all documentation is legible and obtains required certifications from agents (e.g., termite, well, septic).
- Makes sure all documentation is received and reviewed promptly.
- Maintains a daily closing schedule and alerts the Title Company, Agent, and/or Loan Officer if loans are not scheduled.
- Sends loans to underwriting in the correct file order and clears all pre-closing conditions at least 48 hours before closing.
- Notifies borrowers of loan decisions and any required conditions.
- Inputs proper loan information into Encompass to ensure accuracy and updates conversation logs in Encompass.
- Contacts borrowers to obtain additional documentation as necessary to meet loan guidelines.
- Follows processing procedures as directed by the Processing Manager.
- Meets critical deadlines, such as financing contingencies and closing dates.
- Updates conversation logs in Encompass.
Minimum Education & Experience
- 3-5 years experience in a loan processing role, preferably handling loans from start to finish.
- Recent experience as an assistant, loan processor, or loan officer in the mortgage industry.
- Experience communicating with borrowers regarding lending requirements.
- Experience processing conventional, FHA, and VA loans.
- Experience with Encompass software is required.
Technical Knowledge & Skills
- Strong background in calculating income.
- Proficient in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook).
- Excellent verbal and written communication skills.
- Proven customer service ability.
- Knowledge of lending terminology and the ability to effectively communicate with borrowers.
- Knowledge of underwriting is helpful.
- Independent worker capable of producing 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 base salary is based on various factors including geographical location, relevant experience, skill set, education, and ability to meet job qualifications.
Additional Compensation
This role includes a yearly annual target bonus based on individual performance.
Working Arrangements
This is a 100% in-office role located in the District of Columbia (DC).
Why Join Us?
- A growing company with an entrepreneurial culture fostering an entrepreneurial spirit.
- Comprehensive benefits package including medical, dental, vision, life insurance, disability insurance, and 401(k) contributions.
- Employee perks such as paid parental leave, recognition programs, leadership development, tuition reimbursement, employee bank checking accounts, and more.
- Generous paid time off and holidays, including paid charity hours for volunteer opportunities.
- Supporting businesses and helping people while strengthening communities.
Company Information
Capital Bank, N.A. is an E-Verify, Affirmative Action, and Equal Opportunity Employer.