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Mortgage Professional

Location:
Fontana, California, United States
Posted:
January 03, 2018

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ELIZABETH PALAFOX

***** ******** **. #*** • Studio City • CA 91604

310-***-**** • ac3wcr@r.postjobfree.com

EXECUTIVE SUMMARY

Performance and results-driven mortgage banking professional with extensive experience in lending risk and workout operations for foreclosure properties within financial service environments. Leads workout operations in alignment with organizational goals and objectives. Utilizes oral, written and public communication skills with customers, title companies and attorneys. Gathers financial information, performs analysis and provides strategic solutions. Highly organized with strong ability to perform under pressure. Bilingual Spanish • Sales • FHA/VA/CONV • Purchase/ Refinance • DU/ LP • AS-400 • Calyx Point/ Empower/ Doc Magic/ Salesforce • Short Sales/ Foreclosures • Income/ Credit Analysis PROFESSIONAL EXPERIENCE

US BANK, Westlake Village, California April 2016- October 2016 Sr. Loan Processor

Main point of contact to borrower. Reviewed loan application for accuracy and completeness. Reviewed supporting documentation for completeness and consistency with the information indicated on the loan application. Validated information to ensure qualifications are consistent with Investor underwriting guidelines. Determined deadlines required to ensure loan closed within the Purchase and Sale Agreement, rate lock and Investor delivery requirements. Completed credit and appraisal analysis to ensure compliance with Investor and regulatory requirements. Contacted vendors assigned to the loan application to obtain status of required documentation such as appraisal companies, flood certification companies and attorneys/title companies. Reviewed and cleared all conditions on the loan approval before submitting for completion of the closing package. Coordinated closing/signing with borrowers.

Specialized in VA & FHA

LOAN DEPOT, Foothill Ranch, California May 2015- October 2015 Sr. Loan Processor

Main point of contact to borrower. Reviewed loan application for accuracy and completeness. Reviewed supporting documentation for completeness and consistency with the information indicated on the loan application. Validated information to ensure qualifications are consistent with Investor underwriting guidelines. Determined deadlines required to ensure loan closed within the Purchase and Sale Agreement, rate lock and Investor delivery requirements. Completed credit and appraisal analysis to ensure compliance with Investor and regulatory requirements. Contacted vendors assigned to the loan application to obtain status of required documentation such as appraisal companies, flood certification companies and attorneys/title companies. Reviewed and cleared all conditions on the loan approval before submitting for completion of the closing package. Coordinated closing/signing with borrowers.

Specialized in VA & FHA

Received recognition for being in the top 5% company-wide for lowest closing turn time. JP MORGAN CHASE, Chatsworth, California September 2011-March 2014 Sr. Loan Processor

(September 2012-March 2014)

ELIZABETH PALAFOX Page 2 of 2

Serviced borrowers as their main point of contact while preparing and moving mortgage loans to a timely closing. Issued proper disclosures as required by federal regulatory compliance, and reviewed rate lock and point objectives for accuracy. Audited loan origination files, ordered necessary appraisal, title, and credit documents. Analyzed loan-related documents, including income documentation, tax returns, title insurance, flood, tax certificates and surveys. Resolved title issues such as tax liens or judgments. Reviewed and cleared outstanding loan conditions by working closely with loan officers, borrowers, title and all parties needed to obtain necessary documentation to fund. Submitted documentation to Underwriting, Compliance, Audit and Legal for review and approval.

Averaged 40-50 loan funding’s per month to ensure individual, team and departmental goals were met.

Consistently met or exceeded departmental goals. Short-Sale Negotiator (September 2011-September 2012) Analyzed and determined best course of action for short-sale and deed-in-lieu process. Reviewed origination appraisals and all subsequent valuations obtained during the default process. Worked with customers, realtors and internal management to review, negotiate and approve transaction offers. Coordinated short-sale closings with all parties, including title and junior lien holders. Adhered to internal guidelines and external investor/insurer requirements.

Managed a portfolio size of 45-65 loans per month.

Consistently exceeded departmental goals and achieved top negotiator/closer on team receiving an “exceeds” qualification on year-end review. BANK OF AMERICA, Simi Valley, California April 2010- September 2011 Sr. Loan Specialist/ Loan Mod Underwriter

Evaluated delinquent and foreclosed loans, developing long-term solutions that benefited shareholders. Specialized in placing homeowners in a workout that best benefited them as well as the bank. Responsible for underwriting loan packages for a loan modification, short-sale or deed-in-lieu. Obtained and reviewed financial information to determine whether or not they were processed in accordance with applicable program guidelines and requirements. Reviewed loan documents in depth to approve or decline the loan. Computed DTI and NPV. Managed a portfolio of loans specific to performance and special project teams to determine best workout solution from loan modification and short sales to deed-in-lieu options. Analyzed requests in accordance with guidelines and determined appropriate course of action.

Received top-performer recognition consistently each month based on goals. FUNDED CAPITAL MORTGAGE, Beverly Hills, California January 2006- December 2009 Loan Processor

Responsible for evaluating all information supplied on residential loan applications. Verify validity of information through outside sources, calculate income, DTI and LTV ratios. Verified income. Assemble complete loan package for submission to underwriting. Ordered credit, title reports, appraisals, VOE’s, payoffs and any other forms as needed. Update loan officers on status of file and acted as point of contact with borrower. Sent out disclosures and obtained any missing income documentation of borrowers. Cleared all conditions to funding. Responsible for reviewing HUD.

Funded an average of 25-35 loans per month.

EDUCATION

California State University, San Bernardino, California - B.A., Finance - Pending



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