Community Mortgage Portfolio Manager II

West Creek 2 (12072), United States of America, Richmond, Virginia

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.

Community Mortgage Portfolio Manager II

The CM PM supports the CM Sales and CM Fulfillment team that underwrite loans for 1st lien loans for customers that are participating in a CM loan program with or without a grant or subsidy program. This person has no decision authority, no access to make credit decisions; they will support borrowers and loan process for these programs from initial contact through a Mortgage Consultant through closing, and they will work with the information required to be entered into the system and managed to complete the process. Fulfillment will work with these associate for customer and non-profits requirements as necessary, but they do not influence credit decisions.

Responsibilities:

  • Review initial submission package for pre-approval and full application loans to ensure compliance with package requirements prior to sending documents to the borrower or fulfillment and make corrections as necessary.
  • Review loan packages for compliance with CM guidelines.
  • Work with mortgage consultant/processor/underwriter to review/collect all property documentation including co-op/condo questionnaire and financials to ensure they meet program requirements and request and obtain such documents as are necessary.
  • Provide back-up for mortgage consultants/processors/underwriters as an additional contact for the borrower in the event they have questions or issues that need to be addressed including discussing rates as necessary (SAFE Act requirements are applicable)
  • Understand and review for correctness CM specific contract information.
  • Account for construction subsidies specifically listed in the contract and take actions necessary to obtain documentation as necessary.
  • Work directly with loan officers, attorneys, title companies and/or borrowers for any grant/subsidy information required to decision and accurately reflect assistance in the system and move files to closing.
  • Work with grants administrator to request and secure 3rd party documents (credit reports, VOR, VOE, etc.) required for the execution of the grant/subsidy as approved through the grants administrator and the M&A review process.
  • Review legal documents and verify all grant/subsidy conditions are met prior to funding.
  • Complete an audit document and ensure loans that have completed the process have met or exceeded regulatory and procedural hurdles as appropriate. Report out errors to CM operations manager as necessary.
  • Communicate out process or procedural changes made through HL that impact CM sales, process or procedure after reviewing said changes with CM operations manager and/or sales director. Support fulfillment training gaps for CM specific issues per the request of the CM operations and/or HL fulfillment manager.
  • Identify and escalate file issues that may require exceptions to process or guideline
  • Additional responsibilities may be added as identified by the fulfillment manager and/or CM operations manager.
  • Work with mortgage grants administrator/operations manager/sales director to maintain CM Loans Projected to Close Report which is the main report utilized by the business.
  • Provide research and tracking of outliers, compliance issues or delinquencies for program monitoring purposes and report findings to operations manager
  • Review mortgage packages for pre-approval and full applications to ensure regulatory and in addition to procedural compliance prior to submission to fulfillment
  • Review TIL and HUDs for accuracy and verify funds are scheduled to be disbursed accurately for closing and take actions necessary to correct if applicable.
  • Collects all requisite documentation, provides back-up for mortgage associates as an additional contact for the borrower, accounts for all third-party and bank subsidies (including construction, closing cost and down payment subsidies) specifically listed in the contract and obtains documentation as necessary
  • Accurately calculates funds to close, reviews legal documents and verifies all grant/subsidy conditions are met prior to funding.
  • Troubleshoots all loan files and is responsible for identifying and escalating and potential issues that could challenge a smooth loan closing.
  • Assist in monitoring of delinquencies for loans in CM portfolio.

Basic Qualifications:

  • At least 1 year experience in mortgage OR community development OR non-profit
  • At least a High School Diploma, GED, or equivalent certification OR military experience

Preferred Qualifications:

  • Associate's Degree
  • SAFE Act Certified
  • 4 years or more of mortgage, CRA, or community development 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 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


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