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Mortgage Loan Processor

Job Description

Position Purpose:

The Mortgage Loan Processor works closely with loan originators to process mortgage loans in order to provide a seamless customer experience. Primary function is to ensure the timely and accurate submission of loans to Underwriting.

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 (72 hours) 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
  • Validate information (income, assets, employment etc) provided by LOs with documentation provided by borrowers.
  • Inputs proper loan information into Encompass so that data and supporting documentation are accurate. Ensures that all loan documentation is complete and 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:

  • Recent experience in the mortgage industry as an assistant, loan processor or loan officer is required.
  • Must have knowledge of lending terminology and the ability/experience speaking with borrowers regarding lending requirements.
  • Experience processing conventional, FHA and VA loans.
  • Proven customer service ability is required.

Technical Knowledge and Skills:

  • Microsoft office software suite (Word, Excel, PowerPoint, etc)
  • Encompass
  • Excellent oral and written communication skills

Other:

Ability to travel within a defined market area.

Compliance:

It is the responsibility of each bank staff member and of management to adhere to policies and procedures designed to implement compliance with the laws and regulations to which the bank is subject. Each bank staff and management member shall be accountable for understanding how compliance with laws and regulations affects the performance of their day-to-day duties, for completing compliance training as assigned and for carrying out those duties in a manner to achieve compliance with those laws and regulations.

The above mentioned are intended to describe the general nature and level of work performed rather than to be an inclusive list of all duties, responsibilities and skills required for the position. Job duties may be changed at anytime at management’s discretion. The job description is not intended to create contractual obligations of any kind.
 

Capital Bank, N.A. is an Affirmative Action and Equal Opportunity Employer

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