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Commercial Real Estate – Escrow Principal Associate

Location Bethesda, Maryland
Job ID R98769 Updated date 07/30/2020
Bethesda Metro Center (17049), United States of America, Bethesda, Maryland

At Capital One, we’re building a leading information-based technology company. Still founder-led by Chairman and Chief Executive Officer Richard Fairbank, Capital One is on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking. We measure our efforts by the success our customers enjoy and the advocacy they exhibit. We are succeeding because they are succeeding.                                               

Guided by our shared values, we thrive in an environment where collaboration and openness are valued. We believe that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. We elevate each other and obsess about doing the right thing. Our associates serve with humility and a deep respect for their responsibility in helping our customers achieve their goals and realize their dreams. Together, we are on a quest to change banking for good.

Commercial Real Estate – Escrow Principal Associate

Multifamily Loan Servicing is a division of the Capital One Commercial Bank. This team supports numerous critical processes and transactions. By cultivating innovative solutions and embracing technology, this team creates a seamless and unparalleled experience for our associates and customers.

The organization focuses on delivering scale and efficiency, mitigating operational risk, providing a smooth customer experience, and enabling associates to excel. The Multifamily Loan Servicing team supports and provides ongoing support for the Agency Finance portfolio of loans that are underwritten through Fannie Mae, Freddie Mac and Ginnie Mae.  One of the most impactful groups in Loan Servicing is Servicing Operations. The team is currently growing and is searching for a Principal Coordinator.  The Principal Associate will be responsible for managing process flow on escrow analyses, real estate taxes and UCC.  This will include monitoring deadlines with Agency Guidelines, third-party vendors and local governmental jurisdictions.  This individual will also be responsible for managing process, workflow and providing information to both internal stakeholders (other LOBs) and external stakeholders (borrowers, insurance agents, third-party providers, GSEs). Additionally, they will be responsible for identifying, researching, solving and/or responding to requests, inquiries and problematic situations in a timely manner. The individual should be able to work in a fast pace, time sensitive environment at all times and deliver results autonomously. The individual should have the ability to effectively anticipate reaction and proactively address potential issues.

Responsibilities:

  • Assist with managing the relationship between local jurisdiction, borrower and third-party vendor for payment of taxes on escrowed and non-escrowed loans.

  • Manager reconciliation of portfolio with third-party vendor for timely payments of taxes while mitigating penalties.

  • Monitor and reconcile portfolio with third-party vendor for timely upload, continuation and terminations of UCCs while mitigating ongoing jurisdiction requirements and timelines.

  • Ability to process and reconcile high volume of tax payments with borrower and third-party vendor.

  • Review loan documents and servicing agreements to ensure policies and notifications are being followed in accordance with the agreement with investors and master servicers.

  • Oversight of third-party vendors (taxes & UCCs) and escrow compliance.

  • Review loan and agency documentation to ensure compliance with Agency requirements on annual escrow analysis to include understanding of thresholds for shortages and surpluses.

  • Participate in audits and audit walkthroughs with investors, internal partners and agencies.

  • Provide excellent customer service to borrowers, investors and agency partners.

  • Identify opportunities to improve and integrate processes and efficiencies

  • Communicate with internal and external parties with minimal follow up from management

Basic Qualifications:

  • Bachelor’s Degree or Military Experience

  • At least two years of experience working in loan operations 


Preferred Qualifications:

  • At least five years of experience working in loan operations, with at least three years of experience working with GSE-backed multifamily loans

  • Experience with G-Suite Applications

  • Experience with McCracken Strategy application

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 and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. 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).