Agency Underwriter and Portfolio Manager - FHA

Overview

Agency Underwriter and Portfolio Manager - FHA

Capital One is active in all aspects of the Commercial Real Estate arena with extensive experience in permanent and construction loans for a broad range of projects including multifamily housing, seniors housing, affordable housing, retail, office buildings, student housing, industrial and parking facilities.

Our Multifamily Finance Team is a part of Capital One’s broader Commercial Real Estate Business (CRE) and in addition to generating loans for our balance sheet, is one of the largest originators of Fannie Mae, Freddie Mac and FHA loans.

In this role as a Principal Associate, the ideal candidate will be expected to fully understand the procedural aspects of underwriting FHA Loans from application to delivery and to accurately detail this out to stakeholders within the deal team.

Responsibilities:

• Drives deals through underwriting process with oversight from manager, managing deal timelines, developing credit recommendations, and ensuring agency/bank compliance

• Correctly identifies risks associated with transactions and provides mitigated recommendations to discuss with their manager

• With the loan processor, coordinates receipt of due diligence materials from borrower teams and third-party vendors and reviews materials for accuracy and compliance with HUD guidance

• Conducts all material correspondence with third-party vendors and reviews reports for accuracy and HUD compliance

• Formulates and presents questions required to obtain clarification on underwriting matters and communicates those to borrowers and deal stakeholders

• Presents fully completed and analyzed underwriting narratives with supporting risk mitigation to their manager

• Maintains accurate data across the loan model, lender narrative, HUD forms, and internal reports

• Underwrites complex transactions with complicated borrower structures and unique property/market characteristics

• Participates in structuring deals with manager and production to broaden product knowledge

• Develops and fosters relationships with HUD staff

• Works on special projects as deemed appropriate by their manager

• Presents ideas for policy and process improvements to their manager

• With oversight from manager, underwrites various FHA transaction types including 223(f) Acquisition/Refinancing, 221(d)(4) New Construction or Substantial Rehabilitation, 223(a)(7) Refinances, 232 New construction or Substantial Rehabilitation, and 232/223(f) Acquisition/Refinancing

• Under the tutelage of the Deputy Chief and Chief Underwriter, follows HUD and Capital One training requirements in pursuit of certification as a HUD MAP and/or LEAN certified underwriter

Basic Qualifications:

• Bachelor's Degree or Military Experience

• At least 2 years of experience in credit underwriting, loan production analysis, portfolio management, or asset management

Preferred Qualifications:

• At least 3 years of commercial real estate experience, specifically in working with FHA-insured loan products

• At least 3 years of experience in FHA processing and underwriting

• Working towards certification as a HUD MAP and/or LEAN certified underwriter 

***At this time, Capital One will not sponsor a new applicant for employment authorization for this position

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Chicago, IL: $115,900 - $132,200 for Agency UW & PM I

McLean, VA: $127,500 - $145,500 for Agency UW & PM I

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at theCapital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.

No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).