Loss Mitigation Second Look Underwriter
Location:
Plano , Texas
Posted:
February 03, 2017
Reference:
R17503
Plano 2 (31062), United States of America, Plano, Texas

Loss Mitigation Second Look Underwriter

Summary:

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.

Responsibilities:

  • 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.

Know someone who would be interested in this job? Share it with your network.