SCOTT R. WALDEN

**** ** **** **. – Seattle, WA **107

x3rj4k@r.postjobfree.com

206-***-****

EXPERIENCE

May 2010 –Present

Flagstar Bank

On-Site Contract Mortgage Underwriter with Genworth Financial

Contract Underwriter for National Wholesale Lender. Underwrite loans in all 50 states with a “state-of-the-art” Paperless Loan Processing/Underwriting/Delivery System. Act as sole liaison between MI company and broker customer. Responsible for managing assigned new loan workload in conjunction with existing condition queue. Frequent email/phone contact with brokers to explain & clarify loan conditions and denials. High pressure position requiring keen ability to manage MULTIPLE real-time changes in loan terms at the 11th hour, while at the same time producing a saleable loan.

October 2009 – May 2010

HomeStreet Bank

Loss Mitigation Underwriter

Underwrite existing, pre-default or distressed FNMA/FHLMC loans to the new government HAMP (Homeowner's Affordability Modification Program) guidelines. Analyze borrower(s) current financial situation/hardship explanation and determine an acceptable monthly payment based on income, current collateral value, and projected outcomes which may include principal forbearance. Prepare EXCEL spreadsheets to determine specifics of loan prior to IDI/NPV Tests. Communicate directly with borrower to explain denial reasons, when needed.

September 1999 -August 2009

Suntrust Mortgage, Inc.

Contract Mortgage Underwriter with RMIC // PMI Mortgage Ins. Co.

Long-term on-site contract underwriter (10 yrs) for strong, "prime" mortgage lender (wholesale division). Review, approve, and insure conventional and jumbo loans for sale to investors -- as well as Portfolio loans and HELOCS ($650,000 signing authority). Heavy D/U & LP -- and traditional /manual underwriting. Strong ability to analyze Personal and Business Tax Returns. Accountable for maintaining a high level of production with strong focus on minimizing risk. In-depth use of Core-Logic/Loan Safe, MERS, & FastData fraud tools. Highly responsible for Regulatory Compliance in a constantly-evolving lending environment. Exposure to Alt-A products prior to market tightening.

February 1998 -August 1999

First Union Mortgage Corp (Now Wachovia/Wells Fargo)

Contract Mortgage Underwriter with MGIC.

Breakthrough wholesale PRIME underwriting position with strong introduction/exposure to Pacific Northwest client-base. Responsible for both conventional underwriting AND coordinating in a fast-paced broker (wholesale) environment. Heavy D/U & LP, as well as manual/traditional underwriting.

June 1996 -January 1997

Washington Credit Union (Now 1st Security Bank of Washington)

Consumer Loan Officer

Decisioned a wide array of consumer loan products including closed-end 2nd mortgages, installment loans, lines of credit, credit cards, and indirect auto dealer loans. Maintained strong rapport with branch system and indirect auto dealer personnel within a conservative "collateral-based" loan philosophy.

June 1992 -April 1996

Fleet Mortgage // Fleet BankLoan Review Underwriter // Staff Mortgage Underwriter

Responsible for reviewing declined loan applications just prior to borrower/loan officer notification. Discussed any possible "ways to go" with both individual underwriters and underwriting manager. Maintained working knowledge of conventional, FHA/VA and CRA/State Housing programs. Solely responsible for relaying decline verbally to borrower/loan officer when denial was certain. In 1995, moved to Staff Underwriter position with (Conforming Loan Limit) signing authority. Underwrote conventional and Jumbo loan products in a retail, (pre-AUS) environment, as part of an individual "team" of underwriters, processors, and loan closers.

March 1991 -May 1992

Colonial Federal Savings Bank (RTC)Mortgage Loan Underwriter/Coordinator

Briefly decisioned conventional mortgage loan applications prior to 5/01 government takeover of bank. Immediately gained strong loan workout exposure while serving on credit committee relating to disposition of REO properties to ensure maximum recovery of loan losses prior to liquidation of institution.

May 1986 -July 1990

Citizens Financial Group (Royal Bank of Scotland)Staff Auditor/Mortgage Quality Control Analyst/Consumer Loan Officer

Participated in both branch and departmental audits of procedures and internal controls. Progressed in 1987 to newly-created position of Mortgage Quality Control Analyst. Solely responsible for review and re-underwriting monthly sample of closed conventional loans to ensure investor guidelines were being met. Reported findings directly to senior management, as well as FNMA/FHLMC when directed. In 1989 moved into retail lending officer position with signing authority on Indirect Auto Loans, Personal Loans/Lines of Credit, & 2nd Mortgages.

EDUCATION

May 1984 Bryant University

B.S. in Business Administration, Accounting

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