Customer Service Quality
Resume:
CHERYL D. FARRELL
*******@*******.*** SUWANEE,
GA 30024
PROFESSIONAL EXPERIENCES
INDECOMM/GMAC
Remote Contract Underwriter
Atlanta, GA
Approved, Suspend or Deny loans for GMAC according to Fannie/Freddie
guidelines, making sure products were within company and investor
guidelines, as well as double checked acceptable overlays by GMAC.
Evaluated income, assets, appraisals, titles, credit, DTI and LTV
making sure transactions were accurate and consistent based on the
documents in file and underwritten according to the correct program.
Double checked for accuracy and completeness of all documents.
Manually underwriter loans that are not automated approved.
Renegotiated conditional approvals by contacting the brokers for
additional information regarding loans based on the lending guidelines
and overlays set by GMAC.
Cleared conditions in a timely manner and communicate with brokers,
processors and sales repts regarding loan decisions. Communicated
daily with brokers or processors educating them on loan decisions and
the necessary actions required to perfect the file for closing.
CONTEMPORARY SERVICES
02/2009 - 02/2010 &
WELLSFARGO HOME LENDING
06/2010 - 09/2010
Signing Authority $1 Million Dollars
Springfield, IL/Minneapolis, MN
SQC Auditor/Underwriter
Sr. Contract Conventional and FHA Mortgage Underwriter (Level 4)
SQC AUDITING/UNDERWRITING EXPERIENCES
Manually Audit and underwrite FHA, VA, Bond/Housing Authority
programs, HARP, Conventional and Non Conforming loans making sure
guidelines were met and loans were correct with no eras before
approving the files for closing. Manually underwrite loans for
programs that are not automated approved.
Review loans to ensure compliance with FHA and investor guidelines
were being met. Examined income, assets and credit worthiness for each
loan before approving the file for closing.
Audit Conventional loans based on Fannie/Freddie guidelines by
analyzing and reporting on significant loan quality trends and
initiating actions to mitigate losses. STRONG KNOWLEDGE IN MANUAL
UNDERWRITING AND AUDITING. Sound knowledge in secondary market
activities and practices as they impact underwriting.
Performed risk analysis and make decisions regarding deficiencies
identified during the review process.
Approve, reject or Counteroffer Conventional loans that are approved
through DU AND LP (FANNIE/FREDDIE) automation. Data verify loans
submitted for approval, pricing and loan rejections. Specify investor
and institution guidelines as a basis for approving and declining
applications.
APPLEONE/RRDONNELLEY
02/2010-06/2010
Atlanta, GA
Auditor/Underwriter
Reviewed closed loans for eligibility with respect to Fannie Mae's
Selling Guide, DU Guide and negotiate terms as defined by contracts
with Fannie Mae's partners.
Performed risk analysis and make decisions regarding deficiencies
identified during the review process. Identified transaction
components that indicated potential fraud and performed sufficient
investigative work to resolve issues that were identified. Manually
underwrite all closed loans making sure no misrepresentations were
found.
Communicated the results of file review both verbally and in written
format to internal and external customers. Maintained a sound
knowledge of Fannie Mae guidelines, DU guidelines and risk assessment
tools used to decision mortgage loans. Manually review credit, income,
assets, appraisals, contracts, applications and titles.
Maintained knowledge of secondary market practices as they impact
underwriting quality and origination activity.
Great knowledge with detail review of forensic underwriting,
appraisals analysis, portfolio analysis, compliance review and writing
summaries regarding findings. Strong knowledge of re-verification of
loan documents for authenticity and the investigation of cases
involving potential mortgage misrepresentation. Great knowledge
analyzing credit documents, mortgage applications, credit history,
income, appraisal, title and fraud reports while upholding outstanding
quality control.
LENOX NATIONAL
05/2007 - 02/2009
GE MORTGAGE INSURANCE AND RADIAN GURANTY
CITIFINANCIAL, EVERBANK, SIERRA PACIFIC, WELLSFARGO, FLAGSTAR, PLAZA
MORTGAGE AND ALN
Signing Authority $1 Million Dollars
Atlanta, GA
Sr. Contract Conventional and FHA Underwriter
CONVENTIONAL UNDEWRITING EXPERIENCE
Approve, Reject or Counter offer loans based on the lenders guidelines
and policies and communicate the results of the underwriting decisions
to the various lenders verbally and in written format. Underwrite FHA
loans approved through Fannie and Freddie automated engine, making
sure lenders overlays were met.
Examine overall loan documentation to ensure accuracy, completeness,
and fraud prevention, determine whether documentation contains any
fraudulent information and contact appropriate parties for necessary
documentation.
Review and evaluate information on loan documents to ensure sellable
loans are being approved for sale to Freddie Mac and Fannie Mae.
Review loan to value ratios, credit report, applications, assets,
appraisals as well as income documentation based on investor
guidelines and policies. Strong knowledge in understanding risk and
risk factors.
Determine whether loan documents are in compliance, determine terms
and acceptability of risk on prospective loans negotiate counter
offers with loan officers and processors as well as take necessary
action to produce the best results. Review contracts and real estate
briefs making sure lenders are protected.
Underwrite purchases and refinances based on credit and risk factors,
clear conditions in a timely and sufficient manner. Provide
exceptional customer service as well as educate loan officers and
processors on their approvals. Complete QC, Due Diligence and Data
Verify on each loan before issuing a credit clear to close.
Perform daily credit decisions on one to four family residential
loans; analyze risk factors and identify compensating factors that
mitigate risk to investors and structure transaction accordingly.
SOUTH STAR FUNDING
11/2005 - 02/2007
Atlanta, GA
Sr. Mortgage Underwriter
Manually underwrote loans starting with credit scores at 500 based on
various investor guidelines; by making sure quality of overall risk
were acceptable.
Prepared comprehensive reviews; interpreted multiple investor
guidelines as applicable to particular loans
Review documentary for accuracy, fraud and compliance with loan
programs; conditioned for necessary documentation to perfect the file
and ensured each loan were delivered to the appropriate investor.
Great knowledge in underwriting Sub Prime loans, Calculating income
for all types of borrowers and handling complex tax returns and
related financial statements, analyze various sources of funds,
interprets credit agency and similar reports to establish
creditworthiness to borrowers
Cleared conditions in a timely manner and provide exceptional customer
service to the Loan Officers and Processors.
OWNIT MORTGAGE
10/2003 - 10/2005
Atlanta, GA
Sr. Contract Analyst/Mortgage Underwriter
Worked collaboratively with internal and external brokers to develop
business strategies and product management specifications through the
development and release of new markets.
Collected and maintained detail records on each broker business
agreements, contract requirements with financial overview and business
processes requirements.
Provided reports that summarized broker agreements, expiration dates,
financial impacts, rebates and special contract exceptions.
Attended broker contract meetings and maintain status updates on all
new or renewal agreements, as well as maintain and document the
financial obligations of each agreement.
Performed market and competitive research with an understanding of
broader market and technology trends.
Liaison between the lenders and the brokers by advertising all new
products and programs to enhance the brokers and lenders portfolios.
Point of contact for any questions, concerns, or suggestions regarding
products and services as well as manage broker relationships on all
related business.
BAYROCK MORTGAGE 08/2002
- 09/2003
Atlanta, GA
Sr. Mortgage Underwriter
Manually Approved, Rejected, Counteroffer and Suspended loans based on
credit risk factors; negotiated counteroffers with loan officers and
took actions necessary to produce the best results.
Priced individual loans according to investor guidelines making sure
final rates were accurate and current based on daily pricing rates.
Reviewed files for fraud and monitor credit quality of existing loan
portfolios, which required strong underwriting abilities, and
understanding of complex financials from multiple or interconnected
entities and knowledge of various programs which manage and prioritize
workflow.
Monitored credit quality of existing loan portfolios, which requires
strong underwriting abilities, on understanding of complex financials
from multiple or interconnected entities, and knowledge of various
programs which manage and prioritize workflow.
Enhanced exiting accounts as well as coordinate monthly deadlines,
perform presentations and attend broker/lender functions to promote
products, services and perform managerial responsibilities as
required.
Understand the lenders market plans and translate them into objectives
and goals to be attained through product development.
RMIC 10/2000
- 08/2002
Atlanta, GA
Conventional Contract Mortgage Underwriter (DU/LP AUTOMATION)
Approved, Reject or Counter offer loans based Fannie/Freddie (DU/LP)
automated approvals. Verify data based on the findings making sure
documents in the file were accurate and legitimate.
Underwrite purchases and refinance properties based on the automated
findings and Fannie/Freddie Guidelines. Provided strong QC, Due
Diligence, Compliance and Credit knowledge on underwriting open and
closed loans for all major investors.
Performed exceptional credit analysis for new construction, purchase
and refinances on one to four family residential loans; analyze risk
factors and identify presence of compensating factors that mitigate
risk to investors and structure transaction accordingly. Strong
automated knowledge in DU, LP, ASSETWISE, EMITS and CLOUTS.
Taylor Bean & Whitaker
06/1995 - 09/2000
Atlanta, GA
Conventional and FHA/VA Mortgage Underwriter
CONVENTIONAL AND GOVERNMENT EXPERIENCES
Approved, rejected or Counteroffer Conventional/Conforming, Non-
Conforming, Government and Subprime loans with signing authority up to
1 million dollars. Data verify loan files submitted for approval,
pricing and loan rejections. Specify investor and institution
guidelines as a basis for approving and declining applications.
Manually perform traditional underwrites on Conventional/Conforming,
Non Conforming and Government loans.
Reviewed and evaluate information on loan documentation to ensure if
buyer, property and loan conditions meet establish company standards,
review loan to value ratios, credit report, applications, appraisals
as well as income documentation to ensure that each loan meets
secondary market, investors and company standards.
Monitored credit quality of existing loan portfolios, which requires
strong underwriting abilities, on understanding of complex financials
from multiple or interconnected entities, and knowledge of various
programs which manage and prioritize workflow. Great knowledge in
underwriting Conventional and Sub Prime loans.
Calculate income for all types of borrowers, handle complex tax
returns and related financial statements, analyze various sources of
funds, interprets credit agency and similar reports to establish
creditworthiness to borrowers.
Underwrite Conventional loans using automated findings from Du, LP,
Clouts, Emits and Assetwise based on investor's guidelines and
procedures; cleared conditions in a timely manner ensuring loan
documents are accurate and legitimate. DELEGATED/LAPP CERTIFIED FOR
HUD AND VA LOANS.
Excellent credit and underwriting knowledge, which allows
implementation of various products and services; strong direct client
contact with loan officers, brokers, attorneys and processors which
allowed accuracy in handling operational problems and issues. Great
knowledge in underwriting all Conventional, Non Conforming and Alt A
Products as well as provide exceptional customer service on products
and services.
EDUCATION
University of the Virgin Islands, BA in Business Administration and
Marketing Concentration
University of the Virgin Islands, AA in Business Management with a
Finance concentration
Paralegal Certification from NCPT ABA APPROVED
HIGHLIGHTS OF UNDERWRITING AND OPERATIONAL QUALIFICATIONS
SIGNING AUTHORITY OF $1 MILLION DOLLARS
12 YEARS CONVENTIONAL, CONFORMING, NON CONFORMING, FHA/VA EXPERIENCE
5 YEARS SUBPRIME EXPERIENCE
Exceptional knowledge in underwriting Conventional, Sub Prime, Alt A
products,
Great knowledge with DU, LP, Clouts, Emits, LPS, LSI, EDE, Asset-wise,
Calyx,
Manual Underwriting, VA and FHA Products
Great mathematical skills with the ability to interpret and
Execute underwriting instructions accurately;
Very detailed orientated with amazing follow through skills,
Great communication skills both Oral and written, working knowledge
With current PC Software applications, extremely organized as well as
Extremely efficient with an amazing drive for success.
REFERENCES AVAILABLE UPON REQUEST
Contact this candidate