Single Family Regulatory Compliance Subject Matter Expert

SHARON HUDNALL

*** ***** ***. *. ***. *** ● Cranford, NJ 07016

304-***-**** ● ********@***.***

Financial Auditing Professional

Single Family Regulatory Compliance Subject-Matter Expert

High-Profile Career Conducting Nationwide Audits for Major Financial Institutions

Recognized for the creation of audit review requirements for the FDIC, banks, and sales to GSE’s

26 successful years of collections, mortgage, appraisal, audit, and quality control audit experience

Proficient in Dodd Frank Compliance requirements and CFPB Guidance and Regulatory Compliance requirements

Specialize in vendor management oversight, policies and procedures and examination criteria

Compliance Monitoring Contractor with FDIC interface for training and insight into government requirements

Advanced computer skills, resource and efficiency optimization, and presentation / public speaking experience

Honorable Discharge: United States Marine Corps

Professional Experience

TESSSA ASSET MANAGEMENT, Cranford, NJ 2014 to Current

Senior Consultant: US Territory

Directed and orchestrated Single Family Loan compliance requirements for clients that contain Shared Loss asset portfolios in order for them to remain in compliance the Purchase and Assumption Agreement. Created Policy and Procedures in order to meet Regulatory Compliance requirements. Established Proprietary Modification programs in order to provide a program to meet geographic footprint

Whether the lender has compliance management controls for selecting and monitoring affiliates and/or service providers; Whether the lender takes steps to ensure that the service providers it uses are licensed or registered to the extent required.

Evaluate whether the lender performs initial due diligence concerning the service providers prior regulatory compliance history before entering into an agreement (i.e., determining the existence and extent of any prior enforcement actions against the service providers).

Evaluate whether the lender monitors the screening, hiring, and training practices of service

provider’s employees who perform services on the lender’s behalf.

Evaluate whether the lender takes steps to ensure service providers compliance with the

lender’s privacy policy with respect to data that the service providers receives from or on

behalf of the lender.

Evaluate whether the lender reviews the internal or external audit reports covering service

providers’ activities and whether the lender responds appropriately to identified concerns.

Evaluate service providers to ensure they do not engage in unfair, deceptive, or abusive acts or practices with respect to consumer interactions.

Interview employees and third parties, as appropriate.

Ensure compliance with Loss Share Agreement (LSA) provisions related to failed banks.

Perform in-depth review of policies, procedures, staffing, systems and practices regarding asset management, asset administration and debt collection practices.

Review internal audit program related to quarterly LSA certificate filings and administration in accordance with Purchase and Assumption Agreements and Shared Loss Agreements.

Review independent accountants report for computational corrections.

Perform compliance review site visits; apprise management of relevant issues and observations.

Conduct monthly and quarterly LSA data monitoring, validation and testing; loan file reviews, credit quality loan reviews, certificate processing, system reviews and reconciliations.

Review loan charge-off systems and certificate and submissions.

Evaluate recoveries, reimbursable expense detail, permitted advances, assumed commitment advances; analyze the covered loan charge-off burn rate.

Training and education of staff and assuming institutions related to all regulatory and compliance updates.

FINANCIAL INDUSTRY TECHNICAL SERVICES, INC., Denville, NJ 2010 to 2014

Senior Consultant: US Territory

Established and implemented Single Family Loan review requirements for Shared Loss Banks in accordance with the FDIC Compliance Monitoring Contractor’s Statement of Work. This enabled FITS to bid on projects that included Residential Mortgages in the Acquiring Institutions’ portfolios thus expanding the scope of work for the company. Divided time between overseeing the loan review team and reporting as required by the FDIC.

Specific Accomplishments

Successfully ensured acquiring institutions’ compliance with Single Family Loss Share Agreement (LSA) provisions related to failed banks.

Provided in-depth review of policies, procedures, staffing, systems and practices regarding asset management, asset administration and debt collection practices. Furnished training and instruction when required in order for the bank to meet and exceed industry standard requirements.

Successfully performed compliance review site visits in order to apprise bank management of relevant issues and observations.

Successfully trained and education of FITS staff as well as assuming institution personnel as to updates within regulatory and compliance guidelines.

Successfully updated loan review worksheets to ensure proper compliance is adhered in all loan file as required.

BANK OF AMERICA HOME LOANS, Beckley, WV 2010

Mortgage Advisor

Successfully obtain loan application and documentation from all potential borrowers for qualification.

Provided all required documentation for loan approval.

Obtained required signatures on all documentation to meet HUMDA guidelines and requirements.

Reviewed tri-merge credit report with customers and supply documentation as it relates to any disputes or duplicate entries in order to comply with debt to income ratio standards for loan approval on product.

Provide high customer service to all borrowers to ensure future business as well as maintaining thorough knowledge of all compliance issues during the process.

Successfully met pipeline requirements.

Successfully met closed loan goal requirements on a monthly basis.

Successfully retained business partnerships with attorneys, realtors, appraisers and inspectors.

PHH MORTGAGE CORPORATION, Beckley, WV 2009 to 2010

Mortgage Advisor

Successfully obtain loan application and documentation from all potential borrowers for qualification.

Provided all required documentation for loan approval.

Obtained required signatures on all documentation to meet HUMDA guidelines and requirements.

Reviewed tri-merge credit report with customers and supply documentation as it relates to any disputes or duplicate entries in order to comply with debt to income ratio standards for loan approval on product.

Provide high customer service to all borrowers to ensure future business as well as maintaining thorough knowledge of all compliance issues during the process.

Successfully met pipeline requirements.

Successfully met closed loan goal requirements on a monthly basis.

Successfully retained business partnerships with attorneys, realtors, appraisers and inspectors.

COUNTRYWIDE HOME LOANS, Beckley, WV 2007 to 2008

Home Loan Consultant

Successfully obtain loan application and documentation from all potential borrowers for qualification.

Provided all required documentation for loan approval.

Obtained required signatures on all documentation to meet HUMDA guidelines and requirements.

Reviewed tri-merge credit report with customers and supply documentation as it relates to any disputes or duplicate entries in order to comply with debt to income ratio standards for loan approval on product.

Provide high customer service to all borrowers to ensure future business as well as maintaining thorough knowledge of all compliance issues during the process.

Successfully met pipeline requirements.

Successfully met closed loan goal requirements on a monthly basis.

Successfully retained business partnerships with attorneys, realtors, appraisers and inspectors.

UNITED CYCLE, Beckley, WV 2007

Finance and Insurance Manager

Successfully obtain financing for clients from broad spectrum of lending facilities.

Provided Optional Protection choices, i.e. extended warrantee, service contracts, GAP, life and disability.

Completed all loan packages for funding from lenders as it relates to guidelines and specifications.

Provided applicable documentation and signatures to DMV as required by state regulatory requirements.

Provided updated information and documentation to funding companies as required for repossession and bankruptcy claims.

Provided corrective action as required to funding companies for rejected applications post approval, i.e. Applications, verification of income, updated address, etc.

CITI FINANCIAL, Beckley, WV 2005 to 2006

Senior Branch Account Executive

Provided quality operation of cash drawer for posting of customer payments.

Successfully obtained required loan applications from customers via phone and at counter.

Processed all consumer and real estate loans to ensure compliance.

Collected outstanding loan payments and met monthly goal requirements.

Solicited current and former customers for new loans through counter transactions and cold calling.

Conducted all follow up transactions and recording relating to repossessed vehicles.

EAST COAST ADVISORY, INC., Mountainside, NJ 2003 to 2005

Director of Operations

Ensured that all collection activity is monitored and all required accounts are worked daily.

Responsible to process checks for Liberty Funding Escrow deposits through EFT and maintain tracking for results of deposits.

Collected all data and funds for Liberty Funding items that are returned.

Successfully maintained and updated all policy and procedural manuals on an as needed basis.

Researched and monitored all disputed issues between clients and debtors.

Successfully maintained responsibility for all operations of organization.

Responsible for hiring and firing of all staff.

Successfully provided all monthly reporting to both clients and Senior Management team.

Maintained Contracted Employee contracts and productivity monitoring.

Accountable for all Attorney productivity.

Assist in all overtaking and merging with other collection agencies as it relates to employees and operational requirements.

Director of Operations (Scipione, Berg and Associates, LLC), 2005

• Successfully resolved all client issues.

• Ensured all marketing updates relayed to staff on compliance issues.

• Ensured proper compliance issues with legal staff as it relates to collections.

• Provided reporting as required for clients.

• Reviewed and corrected all retainers and contracts relating to new and potential clients to ensure all State and Federal compliance updates are included.

WEICHERT FINANCIAL SERVICES, Morris Plains, NJ 2003

Director of Compliance and Quality Control

Ensured that all Real Estate licensing was maintained in the 45 states that we are licensed in, including the filing of annual reports and audited financial statements.

Successfully responded to all audit finding on Real Estate files for audits conducted by both individual states and investors as required.

Answered customer complaints either through the state, better business bureau or customer.

Completed the filing monthly audit reports including all audit findings realized upon review of closed Real Estate files and required corrective action taken to ensure investor compliance.

Ensured that all state and regulatory changes are provided to staff in a policy and procedural format to educate and provide organizational compliance.

EASTERN REGION FEDERAL CREDIT UNION, Clark, NJ 1999 to 2003

Collections Manager

Provided monthly reporting on delinquency, probable loss and specific reserve requirements in order to remain in compliance with NCUA guidelines.

Successfully manage staff of 4 to ensure due diligence and compliance is met in collection of both consumer and real estate debt.

Responsible for fraud detection and prevention relating to both paper and electronic issues and ensured compliance was adhered to in attempting to locate perpetrators and to collect the stolen funds.

Successfully decreased outstanding delinquency ratio from 2.07% to .45% within nine months of employment with credit union.

IMPERIAL HOME LOANS, INC., Morris Plains, NJ 1998 to 1999

Quality Control Manager

Developed and implemented internal Quality Control Program

Decreased internal significant error ratio from 92% to 36%.

Implemented program, policy and procedure for credit reporting on serviced loans until sold to investors.

AFFINITY FEDERAL CREDIT UNION, Basking Ridge, NJ 1989-1999

Quality Assurance Specialist

Developed internal audit program as required for the sale of loans to GSE’s.

Successfully reviewed required percentage of consumer and Real Estate loans to ensure compliance with underwriting guidelines.

Ensured percentage of charged-off loans is compliance of policy.

Selected, reviewed and reported on 10% random sampling of Real Estate Portfolio for compliance with Freddie Mac guidelines.

Conducted review of all denied loans to ensure HMDA compliance.

Consumer Loan Processor/Underwriter

Contacted approved borrowers for loan set up and disbursement of loan funds.

Cross-sold credit union products and services when appropriate.

Reviewed reports for variable rate change products to ensure accuracy.

Reviewed loan applications for approval.

Collections Specialist

Collected funds on all delinquent credit union loans.

Prepared loans for charge off.

Prepared loans for bankruptcy.

Processed all loan payments for credit life and disability insurance.

Teller

Processed all customer/member transactions as required.

Cross-sold all products and services as related to individual customer needs.

Education

United States Marine Corps. (85-89)

Legal Studies

CFE Certification Training

Contact this candidate