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Mortgage Loan Underwriter-730999
Capital One is expanding its Home Loans division in Wilmington! Capital One’s entrepreneurial spirit and drive to stand out in the industry has led us to become a Fortune 500 company and one of the most desirable places to work in the country. With an engaging culture, great benefits and a commitment to the communities we serve, Capital One continues to attract top talent in Wilmington and the Greater Philadelphia Area.
If you have a passion for the mortgage business, thrive on a fast-paced environment and are looking for a team atmosphere that encourages success and innovation, Capital One Home Loans may have something to offer you!
The Underwriter will be responsible for reviewing, analyzing and making credit decisions on requests from existing and potential clients for home equity and 1st mortgage products. Specific tasks include, but are not limited to the following essential functions listed below:
- Perform mortgage credit analysis, with or without the assistance of an automated underwriting system, to determine borrower’s willingness and ability to repay the mortgage debt. This is done by 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, conventional and FHA, loans
- Underwrite conventional, portfolio and FHA loans.
- Review all origination files to ensure the customer has been offered the best mortgage program.
- Ensure that all fair lending and compliance policies are followed both in dealings with customers as well as the underwriting decisions that are made.
- Meet service level agreements
- Accurately follow all procedures and processing guidelines.
- Thoroughly understand and apply credit policies, loan product policies and all federal regulations related to the granting of credit (i.e., Reg. B, FCRA, Reg. Z, Reg. AA, Reg. O).
- Develop loan applications and answer questions for applicants over the telephone when necessary.
- High School Diploma, GED or equivalent.
- 2 years of experience in automated underwriting systems to include FNMAs Desktop Underwriter and FHLMCs Loan Prospector.
- 2 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.
- Bachelors Degree in business or related field
- 5 years of mortgage experience
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.
Primary Location: United States-Delaware-Wilmington-New Castle-Wilmington Plaza (18222)