Plano 2 (31062), United States of America, Plano, Texas
Loss Mitigation Second Look Underwriter
Underwriters gather documents from the borrowers; review, analyze and determine through tools if we can modify existing terms of home loans. Coordinate with internal and external partners for approval on loan modifications, as needed.
- Effectively manage a portfolio of loss mitigation applications with focus on converting applications to final work out options for customers
- Review and analyze borrower documentation to determine income and repayment ability, assess borrower's hardship, analyze housing expenses, and determine proper loan resolution.
- Process and analyze delinquency, escrow analysis, analyze workout scenarios and proposals and recommend appropriate loan workout.
- Input and acknowledge appropriate documentation to applicants with a firm emphasis on documents received and any additional requirements
- Ensure adherence to regulatory time lines
- Actively participate with identification, escalation, and remediation of audit requests, risk events, customer complaints resolution or other departmental duties as assigned
- Maintain up-to-date knowledge of relevant default practices effecting loan servicing decisions.
- Engage with business partners for timely workout renewal processing on matured accounts
- Be familiar with, and adhere to guidelines for retention options for maturing/matured accounts, including term extension processing
- Perform and interpret external ordering of valuations on property, request for title, lien search, tax transcripts, credit bureau reporting
- Problem solving mindset that “owns” the customer’s issue
- Detail oriented to avoid errors in a highly regulated environment
- Ability to drive results
- Effective written and verbal communication with internal and external business partners
- Judgment – ability to make effective decisions on behalf of the customer, company, and fellow associates
- Teamwork – ability to collaborate and share information in a productive manner
- Be a leader among your peers and set example of Living the Values
- Bachelor’s Degree or related Military experience
- At least 1 year of Underwriting experience or at least 1 year experience in Loss Mitigation
- 1 or more years’ experience in Loss Mitigation or a related area
- At least 3 years of Underwriting experience
- Knowledge of original loan documents
- Knowledge of all loss mitigation options and waterfall processes for GSE loans, HFI loans, and FHA loans
At this time, Capital One will not sponsor a new applicant for employment authorization for this position.
A little about us:
Headquartered in McLean, Virginia, Capital One® offers a broad array of financial products and services to consumers.