MB ALTERNATIVE DELIVERY SPEC

Imagine a Fortune 500 company with a real maverick streak. A financial powerhouse poised to redefine its own industry. Yes, Capital One has moved into the world of retail banking! Capital One Financial Corporation is a holding company offering an unmatched range of financial products and services to consumers, small businesses and commercial clients. We're headquartered in McLean, Virginia, with more than 316 locations in Texas and Louisiana - but our ambitions are truly national.

So what does this mean for you? How about the chance to excel in our supportive, team-oriented environment. To be challenged to advance your skills alongside the brightest talent in the business. And to take on important responsibility from day one while building a rewarding career - all with a fast-growing industry leader.

Originate and submit through the electronic underwriting system referrals from the Direct Bank Center, employees, servicing and Internet applications, bank referrals from De Novo markets, lead generation from vendors. Also responsible for taking applications on assumptions and submitting for approval and soliciting existing servicing and ARM conversions to a fixed rate. Responsible for ensuring that all loans are at the level of desired risk and in accordance to secondary market standards and helping the department meet production goals.

Job Responsibilities ?
? Assist the applicant with the application process and the completion of necessary forms for the appropriate loan program.

? Enter all new applications on the computer and disclose ensuring regulatory requirements.

? Submit loan request through the automated underwriting system and analyze the results and issue decision and conditions needed to complete the loan file within guidelines.

? Keep referral sources informed on the status of the loan.

Mail application packets to potential applicants as needed. Email Internet applicants with acknowledgement of their visit to the Internet site and needed information to complete the application process.

? Monitor changes in FHA, VA and Investor guidelines and regulations.

? Review any title objections and work within investor guidelines to close the loan.

? Report weekly the number of referrals from each source and the number of files underwritten.

Ongoing Other duties as assigned by Supervisor.

Required Skills:
Education and Related Experience ?
?High School diploma with the completion of some college courses in Business Administration and/or Finance.
?5+ years experience in processing and/or closing environment.
?2 years experience underwriting or processing mortgage loans.

Skills and Abilities ?
REQUIRED SPECIFIC KNOWLEDGE:
?Thorough understanding of PC based word processing and spreadsheet software.
?Understanding of PC/CRT applications.
?Thorough understanding of secondary market requirements.
?Understanding of all types of mortgage loans.
?Thorough understanding of the following Regulatory Requirements:
1.? Home loan disclosure act.
2.? Real estate settlement act.
3.? Regulation Z- Federal truth in lending.
4.? Fair Housing
5.? Financial Institution Reform Act of 1989.
6.? HUD Regulations
7.? VA Regulations.
8.? FNMA/FHLMC requirements
9.? La Statues regarding Real Estate Transactions.
10.? Flood Protection Act.
11.? PMI guidelines.
?? Thorough understanding of financial and credit data.
REQUIRED SKILLS:
?Good organizational skills.
?Ability to effectively manage time.
?Ability to analyze loan and financial applications.
?Good aptitude for mathematics.
?Independent and self motivated.
?Detail Oriented.
?Excellent verbal and written communication skills.
?Excellent interpersonal skills.
?Excellent customer service skills.
?Good analytical skills.

Working Conditions and/or Physical Requirements ?
?Ability to work under stress and meet deadlines.
?Ability to operate a keyboard if required performing the essential job functions.
?Ability to read and interpret a document.
?Ability to travel if required to perform the essential job functions.
?Ability to lift/move/carry approximately 20 pounds if required to perform the essential job functions.? If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department an "undue hardship" then the employee must be accommodated; hence, omitting lifting as a physical requirement.

To apply, please visit www.capitalone.com/careers
Job reference #16315



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