Mortgage Underwriter – Cambridge Savings Bank
May 2016 to Present
Evaluated first mortgage, Jumbo loans for portfolio and investor, HE and HELOC applications for lender portfolio, correspondent lenders and Fannie Mae. Utilized paperless LOS application, (currently Encompass) line of $650,000.00. Demographic included self-employed, salaried, wage earners, professional borrowers. Full collateral review, scoring, and addendum corrections and reconcilement requests. 1- 4 family including condominiums, principal residences, second homes, investment properties detached and attached, urban and suburban and condominiums. Delegated, with second signatures, to underwrite up to two million dollar limits, both manual and automated underwriting with loan committee or sr. management presentation. Actions included approval, denied, suspend or counter offer. Totally paperless setting.
January 2014 to May 2016
Reviewed first mortgage and HELOC applications for portfolio and Agency and Correspondent lenders. Performed pre-funding QA reviews for delegated submissions. Analyzed complex hybrid commercial/residential type super jumbo loans up to 1.5million dollars. Reviewed and approved, suspended, counter offered or denied Conventional conforming loans and HELOCS. Prepared rental spread sheet REO analysis, Self-Employment cash flow analysis, and analyzed Personal and business returns. Kept abreast of FNMA guidelines, Correspondent overlays and regulatory rules and compliance requirements. Presented approval decisions to Senior Management to obtain required Executive signatures. Helped process files when required. Acted as a resource for assistance to other underwriters on more complex files, as well as fielding many unsolicited requests from loan originators to assist them in qualifying prospects. Requested to review new Agency forms for the analysis of various types of personal and business rental income. Served in group to help revise and update new underwriting policies. Helped raise level of knowledge and implementation of the LOS system for more effective productivity and automated reports for compliance requirements. Full Service Underwriter: Credit, Assets, Appraisal, Income for the full range of conventional, conforming, jumbo and super jumbo fixed rates, ARM’s, owner occupied, investment, wage earners, salaried, self-employed, multiple borrowers, multiple properties, multiple concurrent loans in pipeline. Regular use of AUS for LP and DU/DO. Familiar with affordable housing initiatives, state agency and partnership products, special purpose lending.
. Developed three customized Rental Analysis Excel spreadsheets to comply with Fannie Mae and bank guidelines for Forms 1037, 1038 and 1039 and 1003 easy adaptations of these forms.
February 2013 to August 2013
Handled Contract Underwriting Services Division setting-up remote office with lender hardware, gathered daily assignments from PC work queue, underwrote new files and made approval decisions. Submitted denied loans for second review, notified clients of decision, and uploaded approval documents and loan comments regarding Underwriting review. Provided consistent and continuous client communication ensuring optimized loan processing. Reviewed income, asset, credit, appraisal, and Purchase Agreement, applied client overlays, maintained production log up-to date, and actively participated in daily conference calls and weekly divisional meetings.
• Enhanced team morale and improves cohesiveness by launching team naming contest facilitating sense of ownership for team members.
• Boosted client confidence by obtaining Uniform State Content credential.
September 2012 to October 2012
Woburn / Winthrop, MA
September-October 2012 and MSA Mortgage, LLC,• 11/2012 – 1/2013
Conventional Mortgage Underwriter
Worked with conventional, jumbo and HARP loans for various correspondent investors and brokered loans including digitally reviewing for regulatory compliance, underwriting requirements and specific investor overlays. Analyzed file for possible fraud, inconsistencies, and qualification for program, and supported sales team formulating optimum applications for various scenarios. Maintained comprehensive knowledge base regarding unique requirements and conditions for MI and various investors, as well as, relevant changes in Agency guidelines and requirements. Liaised with all stakeholders ensuring stellar quality and service metrics.
November 2011 to September 2012
Oversaw servicing of conventional, jumbo and HARP loans including digitally reviewing for regulatory compliance, underwriting requirements and specific investor overlays. Reviewed file identifying possible fraud, inconsistencies, and qualification for program. Maintained comprehensive knowledge base regarding unique requirements and conditions for MI and various investors, as well as, relevant changes in Agency guidelines and requirements. Liaised with all stakeholders ensuring stellar quality and service metrics.
• Enhanced productivity by qualifying for work at home status, eliminating environmental distractions.
January 2010 to February 2011
Delivered leadership and guidance to production line underwriters, including performing all non-conforming and out-of-scope manual underwriting and serving as Quality Control resource for department pre and post-funding. Identified, addressed, and resolved complex issues referred by line underwriters and other staff members. Served as production line underwriter for Agency, Portfolio and Mass Housing originations with sign-off limits of $650k per file and $2M aggregate per borrower.
• Slashed Underwriter deficiencies 80% per audit team by conducting Quality Assurance and consulting reviews, as well as, delivering group training to four Underwriters.
August 2008 to October 2009
Braintree, MA • 8/2008 – 10/2009
Secondary mortgage services and sales provider to banks, credit unions, and mortgage bankers.
Quality Assurance Contract Underwriter
Underwrote and processed client conventional and niche mortgage products ensuring investor requirements were met. Employed extensive knowledge of Fannie, Freddie and Affordable Housing guidelines utilized in analysis and qualification of applications. Maintained full company and regulatory compliance, liaise with all partners driving efficient processing, review files for employment and income analysis, asset and credit review, and investigation of fraud flags, conduct comprehensive Quality Assurance audits mortgage lending and banking clients.
• Selected by client to deliver training to Home Affordable Modification Program (HAMP) in basic underwriting skills in addition to existing post-closing Quality Assurance responsibilities.
June 2006 to October 2007
Managed wholesale division overseeing research, underwriting, and processing for conventional mortgage applications for products including Alt A, SISA, SIVA, Interest only, and second mortgages.
Taylor, Bean, and Whitaker
Evaluated credit worthiness maintaining compliance with guidelines for numerous loan programs. Consistently average 6.5 loans per diem, drove effective clear communication with clients, sales staff, loan processors, managers, and closing department facilitating swift and accurate completion of loan application and closing processes.
• Garnered solid reputation as Top Performer.
July 2005 to May 2006
Manually underwrote conventional mortgage loans for retail division of northeast Loan Fulfillment Center managing multiple loans for individual borrowers, self-employed clients, Lot Loans, AUS, and Referred Loans. Performed secondary review functions identifying and resolving validated lending issues and evaluating appraisal referrals.
• Performance review led to increase in residential lending authority from $650K to $1,500MM, Aggregate $2,500,000; authorized for Exception Level A (fico, loan request, LTV, CLTV, ratios, and reserves).
• Significantly impacted total dollar production, as well as, personal production, by increasing line of credit.
July 2004 to July 2005
Supported all underwriting activities of wholesale division providing clients with product options, utilizing software and manual underwriting tools and methods preparing documentation for Interest Only, Option Arms, Jumbo and niche products, piggy back seconds / HELOCS, and stand-alone second lien products.
• Boosted loan funding by developing and implementing board and tracking system for stalled loans, as well as, coordinating with wholesale clients resolving deficiencies in coordination with UW Manager.
CAREER NOTE: Additional experience includes role as Mortgage Contract Underwriter for Genworth / MI Underwriter, HEADWAY CORPORATION, and Mortgage and MI Underwriter, UNITED GUARANTY. 9 years Senior Mortgage Underwriter with First Trade Union Bank, Boston, MA.
Details available upon request.
Master of Arts in Education
Microsoft Office Suite • Calyx Point •PCLender•Encompass•Multiple UW/LOS Systems • Digital Imaging Systems