Mortgage Loan Underwriter II (DE Certified) Job Job Details
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Show me jobs like this one| Employer: | Capital One | Job Ref No: | 1797071309 | Job Title: | Mortgage Loan Underwriter II (DE Certified) Job | Sector: | Other | Sub Sector: | Other | Risk Type: | Other | Expertise: | Risk Manager | Description Responsible for the pre-funding aspect of the mortgage loan origination file specifically as it pertains to underwriting. It is the Underwriters responsibility to ensure that loans are processed and underwritten accurately and in a timely manner while remaining in compliance and with the most professional execution. The Underwriter reports to the Team Leader, is a partner to sales, processing and closing in delivering an excellent customer experience. Responsibilities: - Perform mortgage credit analysis, with or without the assistance of automated underwriting system, to determine borrowers willingness and ability to repay the mortgage debt. This is done by reviewing the credit package to determine mortgage amount and term, calculating required investment, determining assets available for closing, analyzing credit history, calculating proposed monthly housing expense and recurring debt. - Review credit documents for completeness and accuracy. - Perform detailed review of appraisal for one-to-four family residential properties to determine acceptability of security for portfolio loans, loans sold to investors and HUD insurance and VA guarantee. - Underwrite conventional, FHA, VA and construction-permanent loan programs. - Evaluate risk to ensure a prudent decision is made. - Approval authority based on Level II of Residential Lending Authority limits authorized by the Bank. - Partner with sales to ensure mortgage applications are originated efficiently and in compliance with all Capital One and regulatory requirements, especially as it pertains to Processing and Underwriting. - Partner with sales and team leaders to ensure that: o Regulatory and credit guidelines are met. o Operational systems, processes and policies of pre-funding are followed. o Clear and coordinated lines of communication are open and in use. o Monitor the Team pipeline ensuring that it remains current and clean. o Work daily in conjunction with Team Leaders and Processors for pipeline control and progression. o Ensure all loans are moving forward meeting contract deadlines. o Ensure that credit decisions are made within 30 days. o Review all origination files to ensure the customer has been offered the best mortgage program. o Adhere to guidelines to ensure all loans are closed properly according to internal and external investors in a timely manner. o Follow Capital Ones assurance ensuring it meets investor and regulatory requirements. o Ensure that all fair lending and compliance policies are followed both in dealings with customers as well as the underwriting decisions that are made. o Monitor all Secondary Investor, Government and MI guideline changes and determine effect on current and future loans. o Meet service level standards. o Partner with the Fulfillment Credit Consultant in regard to credit policy guidance. o Partner with the Performance Specialist Manager to ensure pipeline control progression. Qualifications Basic Qualifications: - High School Diploma, GED or Equivalent Certification - 3 years of experience in automated underwriting systems to include FNMAs Desktop Underwriter and FHLMCs Loan Prospector. - 3 years of extensive knowledge of FNMA/FHLMC/FHA/VA programs and underwriting guidelines, as well as those of other conventional investors, state/local bond programs and private mortgage insurers. Preferred Qualifications: - Bachelors Degree in business or related field - 5 years of mortgage experience - FHA DE VA LAPP approval preferred. - Analytical ability to consider consequences of Loan credit guidelines. Ability to make business decisions outside of standard underwriting guidelines. - Thoroughly versed in AUS with a thorough knowledge of loan underwriting and processing functions. - Strong problems solving skills. - Ability to make day to day business decisions outside of written policy - Must be detail oriented with strong organizational skills. - Excellent verbal and written communication skills. - Ability to work under pressure. - Customer-service oriented. At this time, Capital One will not sponsor a new applicant for employment authorization for this position. No agencies please. Capital One is an equal opportunity employer committed to diversity in the workplace. We promote a drug-free work environment. We emphasize recruiting, hiring, and retaining the most qualified candidates and providing them with the opportunity to meet their potential. We provide an environment where differences lead to solutions. Job: Mortgage Primary Location: United States-Texas-Plano-DFW-Plano People Center Bldg 3 (31063) Schedule: Full-time Travel: No Job Posting: Unposting Date: | Employment Type: | Full Time | Region/Country: | Americas, United States | States/Counties: | Texas | City: | Plano | Address: | Post Date: | 02/10/2012 |
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