Director of Assumptions - Multifamily Agency, Commercial Real Estate

Employer
Capital One
Location
Boston, Massachusetts
Posted
Jan 07, 2022
Closes
Feb 05, 2022
Ref
R131260
Function
Finance
Hours
Full Time
100 Summer (21021), United States of America, Boston, Massachusetts

Director of Assumptions - Multifamily Agency, Commercial Real Estate

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, retail, office buildings, student housing, industrial and parking facilities. Our Agency 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.

The incumbent is responsible for overseeing the Fannie Mae and Freddie Mac Assumption process for Capital One's Multifamily platform. This role will be responsible for to ensuring all investor guidelines are met. The candidate may be responsible for credit approval of the majority of transactions so previous credit authority would be preferred. The incumbent will also perform other duties as necessary to support the goals and objectives of the Multifamily platform and work directly with originators, the Chief Underwriter and Credit oversight to structure transactions for loan application and approval.

Responsibilities:
  • Fully understands the procedural aspect of Fannie Mae and Freddie Mac Assumptions from application to delivery and can accurately detail this out to stakeholders within the deal team
  • Navigates deals through the Assumption process with the Agencies as well as the Master Servicers
  • Correctly identifies all waivers and risks associated with the transactions and provides mitigated recommendation
  • Presents ideas for policy and process improvements to their manager
  • Higher level external exposure to borrowers, agencies and lender counsel
  • Underwrite complicated borrower structures and unique property/market characteristics
  • Review underwriter loan approval presentations for Loan Committee approval and/or submit recommendations and/or approve.
  • Understand and employ all policies and procedures of the Bank and the Line of Business.
  • Foster an open dialogue and strong working relationships with Agency partners and other internal groups that support and review the line of business.
  • Remain up to date on all bank compliance regulatory policies and procedures and on all pending and proposed regulatory changes affecting bank compliance.
  • Partner with Asset Management to proactively manage the Assumptions to identify and address problems to produce timely loan modifications and risk rating changes, as appropriate
  • Mentor and train underwriters and analysts


This role may be based in Boston, NY, Atlanta, Bethesda or Dallas.

Capital One is open to hiring a Remote Employee for this opportunity.

Basic Qualifications
  • Bachelor's Degree or Military Experience
  • At least 5 years of experience in Multifamily Agency lending


Preferred Qualifications
  • At least 7 years of experience in Multifamily Agency Lending
  • At least 5 years of experience Multifamily Underwriting and or Asset Management
  • Experience managing team (3+ Associates)


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

#LI-hybrid


    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.

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