Mortgage Loan Processor

About Capital Bank, N.A.

Established in Maryland and serving since 1999, Capital Bank, N.A. is a publicly traded company (NASDAQ: CBNK) managing over $3 billion in assets. We deliver commercial and consumer banking services mainly across Maryland, DC, and Northern Virginia, in addition to our two nationwide lending divisions: Capital Bank Home Loans and OpenSky credit cards, which serve customers across all states. We combine personalized banking with advanced technology and a broad product suite to support clients throughout their financial paths. Our workplace culture promotes employee growth and meaningful work, earning us recognition as one of the "Best Banks to Work For" by American Banker in 6 of the last 7 years.

Role Purpose

The Mortgage Loan Processor collaborates closely with Loan Originators to efficiently manage the mortgage loan process, enhancing customer experience from application through to closing. The role demands thorough review of loan applications for accuracy and completeness, communication with loan originators on loan viability, collection of required documentation, and preparation of loan files for underwriting and final approval.

Main Duties and Responsibilities

• Collect and assess all loan documentation and related information to advance applications from initiation to closing.
• Contact borrowers and referral sources within 72 hours of application receipt as an introduction.
• Examine income documentation for accuracy and alignment with specific loan product guidelines.
• Review product eligibility requirements and confirm all necessary documents are secured, including employment verification over two years, asset documentation, credit reports, appraisals, title work, hazard insurance, and payoff statements for refinances.
• Ensure all documents are readable and obtain required certifications such as termite, well, and septic inspections, reviewing and acting accordingly.
• Oversee daily closing schedules, ensuring all loans are booked for closing and coordinate with Title Company, Agents, Loan Officers, and Closing Department as needed.
• Submit loan files to underwriting in proper order and address any conditions prior to closing to ensure loans are "clear to close" no later than 48 hours before closing.
• Notify borrowers about loan decisions and any outstanding conditions.
• Accurately enter loan details into Encompass software, maintaining current logs and documentation.
• Regularly communicate with borrowers for additional documents necessary to satisfy loan guidelines.
• Comply with processing procedures outlined by the Processing Manager and consistently meet critical milestones such as financing contingencies and closing dates.
• Coordinate with Mortgage Loan Originators or Assistants regarding missing or requested items.

Minimum Qualifications

• Between 3 to 5 years’ experience managing loan processing end-to-end.
• Preferred background includes roles as mortgage assistant, loan processor, or loan officer.
• Proven ability to communicate lending requirements effectively to borrowers.
• Experience handling conventional, FHA, and VA loan products.
• Proficiency in Encompass loan processing software is mandatory.

Technical Skills and Attributes

• Strong understanding of income calculation is desirable.
• Competent in Microsoft Office applications including Word, Excel, PowerPoint, and Outlook.
• Excellent written and verbal communication skills.
• Superior customer service capabilities.
• Familiarity with lending terminology and ability to clearly explain to borrowers.
• Some knowledge of underwriting processes is advantageous.
• Self-motivated with the ability to work independently and deliver timely results.
• Comfortable working in a fast-paced setting ensuring precise output.

Compensation Details

• Base pay ranges hourly from $25.51 to $35.71, determined by location, experience, skills, education, and qualifications.
• Annual performance-based target bonus included.

Work Environment

• This is a fully on-site role based in Washington DC.

Why Capital Bank?

• Joining a developing company with a culture that encourages entrepreneurial spirit.
• Access to a comprehensive benefits package including medical, dental, vision, company-paid life and disability insurance.
• 401(k) contributions from the company, regardless of employee contribution.
• Employee advantages such as paid parental leave, recognition programs, leadership and tuition reimbursement programs, and bank checking accounts.
• Generous paid time off and holidays, alongside paid charity hours for volunteering.

Equal Opportunity Employer

Capital Bank, N.A. is committed to fair hiring practices and participates in E-Verify. The bank is an Affirmative Action and Equal Opportunity employer.