Mortgage Loan Processor I

City National Bank; Richmond (VA); On-site; USD 46,000 - 70,000; Full time

Benefits offered by this job

Healthcare coverage (Medical, Dental,

401(k) matching

Tuition reimbursement

Paid time off (vacation, sick, charity

Career development resources

Fertility and health benefits

Recruitment team support

Colleague resource groups

Job summary

City National Bank in Richmond, VA seeks a Mortgage Loan Processor I to review all new loan applications, ensure required forms are provided, and prepare files for underwriting and closing. You will draft disclosures and coordinate with the Residential Loan Consultant and underwriting teams to keep pipelines on track.

Strong attention to detail and effective communication with borrowers and vendors are essential. Requires Safe Act compliance, FNMA/FHLMC familiarity, and regulatory knowledge.

Qualifications

• Minimum 1 year of loan processing experience in a mortgage banking company or related financial institution required.
• Minimum 1 year of experience with FNMA/FHLMC guidelines and standard industry guidelines required.
• Minimum 1 year of experience of state and federal lending regulations (e.g. RESPA, Reg Z, ECOA, State Fair Lending) required.
• Must be in good standing under Safe Act and registered/licensed with NMLS or able to be registered.

Responsibilities

• Review new loan applications to ensure required forms and documentation are provided.
• Prepare and send regulatory disclosures within required timeframes.
• Open and order verifications to support credit decisions and underwriting.
• Input data for processing conventional mortgage loans for single family 1–4.
• Provide support to Residential Loan Consultant, underwriting, and closing departments.
• Assist in weekly pipeline planning and maintain CRA/equal opportunity commitments.

Skills

Loan processing

Regulatory compliance

Communication

Attention to detail

Pipeline planning

Tools

Interlinq E3

Job description

MORTGAGE LOAN PROCESSOR I

WHAT IS THE OPPORTUNITY?

Reviews all new loan application requests to ensure that all required forms and/or documentation have been provided by the borrower. Prepares and sends out all pertinent regulatory compliance disclosures for single family 1-4 properties. Works in a team environment gathering outstanding conditions and upon receipt performs analysis and prepares files for closing documents. Provides support to the Residential Loan Consultant, underwriting and documentation/ closing departments. Assists supervisor and underwriting area in pipeline planningMust be in good standing under "The Secure and Fair Enforcement for Mortgage Licensing Act of 2008" (Safe Act) and must be registered/licensed with the "Nationwide Mortgage Licensing System and Registry"; or must be able to be registered under the Safe Act. Must remain in good standing under the Safe Act.

WHAT WILL YOU DO?

• Reviews all new loan application requests to ensure that all required forms and/or documentation have been provided by the borrower. Prepares the loan for submission to the underwriter after all outstanding items are received.
• Prepares and sends out all pertinent regulatory compliance disclosure material based on data provided by the Residential Loan Consultant. Sends out all pertinent disclosures within required timeframes from the receipt of the application.
• Reviews new loan files upon receipt. Places files in proper stacking order, and inputs information on the system.
• Opens/orders the verifications needed to make a credit decision. Compiles a list of items that are outstanding from the borrower by utilizing the appropriate checklists. Orders or follows up with escrow, title, credit vendor, HOA Association, insurance agent and appraisal department.
• Inputs data for the processing of conventional mortgage loans for single family 1
• Prepares and mails requests for verification of deposit, employment, and mortgage (when applicable) to the appropriate parties.
• Provides support to the Residential Loan Consultant, underwriting, document/ closing departments. Answers calls from borrowers, escrow, title, agents, etc. regarding status and general questions throughout the processing of the loan.
• Assists supervisor and underwriting area in weekly pipeline planning.
• Maintains a proactive commitment to established Bank programs, such as, Community Reinvestment Act (CRA) and Equal Employment Opportunity.

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications *

• Minimum 1 year of loan processing experience in a mortgage banking company or related financial institution required.
• Minimum 1 year of experience working with FNMA/FHLMC guidelines and standard industry guidelines required.
• Minimum 1 year of experience of state and federal lending regulations (e.g. Respa, Reg Z, Ecoa, State Fair Lending) required
• Must be in good standing under "The Secure and Fair Enforcement for Mortgage Licensing Act of 2008" (Safe Act) and must be registered/licensed with the "Nationwide Mortgage Licensing System and Registry"; or must be able to be registered under the Safe Act. Must remain in good standing under the Safe Act.

Additional Qualifications

• Ability to communicate effectively with all levels of CNB personnel, customers, and outside agencies.
• Verbal/written communication skills sufficient to review and process loan documentation.
• Ability to apply basic math skills.
• Proficient computer skills with experience using Word, and some type mortgage software program (Interlinq E3 preferred).
• Very good analytical skills are beneficial.
• Ability to pay close attention to detail, and work under deadlines.

WHAT'S IN IT FOR YOU?

*Compensation*Starting base salary: $22.27 - $33.43 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

ABOUT US

Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.