Mortgage Underwriter
Resume:
Linda Kincannon
**************@*******.***
Professional Profile
Committed professional with 25+ years of experience in the mortgage and financial industries. Able to meet challenging deadlines and achieve set goals. Superb reliability and punctuality standards. Excellent listening, written and oral communication skills. Attention to detail. PC literate with experience utilizing Microsoft Word, Excel, Share point, and Access. Ability to navigate fluently through simple/moderate/complex screens and fields. Adept to easily learn new processes and technologies. Works well independently and in team environment.
Work Experience
Sovereign Mortgage Services – Remote October 2016 - Present
Pre-closing QC for several banks, full underwrites for conventional, FHA and VA loans. Calculate verified income and debts, to insure meets guidelines. Determine that disclosures were provided to borrower within the required time element. Analyze appraisal for accuracy to confirm value. Insure that all requirements reflected on the AUS and Loan Approval are met. Performs Fraud review with relation to Interthinx Fraud Guard generated reports. Determine level of qualification for a loan applicant and render decision on applicant’s ability to repay.
Beal Bank July 2016 – September 2016
Jumbo Loans, analyzing applicants' financial status, credit, and property evaluations to determine feasibility of granting mortgages or lending money, approval authority up to $5 million.
Reviewed balance sheets, operating income and tax returns, and loan documentation to confirm borrowers’ assets and liabilities for the self-employed and other non-traditional income stream borrowers.
Verified and sourced cash reserves, liabilities, securities, and other non-traditional income streams for the purpose of accessing the borrower’s ability to repay loan.
Reviewed 3rd party reports (appraisals, engineering and environmental reports).
Examined title policy for accuracy including complete chain of title, recorded assignments and acceptable schedule B-1 exceptions and applicable endorsements.
NewOak February 2013 to March 2016
QC Underwriter working with a group of lawyers to answer allegations in a lawsuit with major lenders from Mortgage Insurance Companies or Secondary Market Lenders, pertaining to breach of guidelines such as LTV/CLTV, DTI, stated income, and missing documents. Additionally, answering allegations of compliance issues pertaining to Regs, RESPA, TIL and HMDA. Back up rebuttal with documents provided in the original loan file.
Re-Underwrite mortgage loans and issue claim assertions in cases where the lender did not meet guidelines or minimum industry standards as part of a securities litigation case. Re-underwrite loans from several different lenders with different documentation levels, including full documentation, alternative documentation, stated income/stated assets, stated income/verified assets, no ratio, and no doc loans. Re-underwriting includes review of AUS findings, such as Clues, DU, FHA scorecard, and LP; as well as manual decision-making, and review of loan file for acceptable industry compliance documentation.
• Issue claims citing guidelines where applicable and/or minimum industry standards using template language and claim codes.
• Assist with special projects by reviewing portions of a security for specific characteristics as required
Provide documents or location in loan file for documents needed to be utilized in court procedures.
Solomon Edwards Group September 2012 to January 2013
Underwriter
Conducted review of previously analyzed files for accuracy of decisions for foreclosure. Document findings to provide report for harm or non-harm foreclosures if applicable.
Review all systems to determine if loans were accurately foreclosed according to government, state and bankruptcy regulations.
Determine if files were foreclosed in error and if so were the foreclosures rescinded per guidelines.
Complying with all applicable laws and regulations, including those related to Anti-Money Laundering (Bank Secrecy Act, USA Patriot Act, etc). Completed additional training pertaining to bank policies and procedures, including Anti-Money Laundering.
Peoples Bank and Trust March 2011 to August 2012
Operations Manager
Responsible for underwriting residential, FHA, VA, FNMA, FHLMC mortgage loans ensuring guidelines, such as LTV, CLTV, and DTI, along with compliance issues, such as HMDA, TIL and RESPA issues with investor and agency guidelines
Manual calculation of ratios including DTI, LTV, and combined LTV income locking rates
Responsible for utilizing the decision of underwriting to gather credit documentation to support the loan approval decision including the ability to approve and withdraw loans
Communicated loan approvals and suspensions in a timely manner
Establish and maintain relationships with loan officers and processors to ensure positive and profitable relationships.
Order titles, appraisals, payoffs, credit reports, environmental, and hazard policies
Cleared underwriting conditions and issued clear to close through DU and LP
Manually input or imported loan information from POINT/Calyx
Completed final loan packaging for funding.
For all in house financing, ensured final title policy received, escrow (taxes and insurance) in order and taxes and insurance invoices received and paid as due and/or renewed.
If payments not paid in a timely manner, turned loan over to the collections department until loan brought current.
Fannie Mae January 2010 to June 2011
Underwriter
Review the effectiveness of internal routines, controls and legal and regulatory environment relating to the servicing of loans.
Review and examine loan packages to determine if past and/or present compliance with government agency, federal and state regulations had been adhered to, along with compliance issues.
Reviewed and verified Consolidated Reports of Condition and Income (call reports) against bank records for accuracy and completeness
Audited closed residential loans to determine compliance with policies and procedures to determine if approval is warranted while performing risk assessments and potential fraud
Completed loan audit reviews for Conventional, FHLMC and FNMA loans and identified and communicated the regulatory risks, results and recommendations to Upper Management.
Implemented repurchase letters, should credit file not meet guidelines or exceptions provided to lender
Stark Group (Recruiter) Chase (formerly EMC/Bears Stearn January 2007 to March 2009
Risk Management Underwriter
Review the effectiveness of internal routines, controls and investigate fraud
Review and examine loan packages to determine if past and/or present guidelines and compliance issues had been adhered
Reviewed and verified Consolidated Reports of Condition and Income (call reports) against bank records for accuracy and completeness
Audited closed residential loans to determine compliance with policies and procedures to determine if approval is warranted while performing risk assessments and potential fraud
Completed loan audit reviews for Conventional, FHLMC and FNMA loans
Implemented repurchase letters, should credit file not meet guidelines or exceptions provided to lender
Baynes (Recruiter) - Wells Fargo March 2009 to January 2010
Correspondent Underwriter
Review and examine loan packages to determine if meet lenders guidelines for purchase.
Reviewed and verified Consolidated Reports of Condition and Income (call reports) against bank records for accuracy and completeness
Audited correspondent residential loans to determine compliance with policies and procedures to determine if approval is warranted while performing risk assessments and potential fraud
Completed loan reviews for Conventional, FHLMC and FNMA loans
Signed off on outstanding conditions to complete the process for purchase of loans.
Clayton, GE, AllonHill, RMG Global, Mortgage Data Management Corporation; Hanover Capital; Bohan Consultants, Washington Mutual June 2001 – April 2008
Mortgage Loan Review Consultant/ Quality Assurance / Forensic Underwriter (Contractual)
Reviewed investor 3rd Party findings for allegations of misrepresentations Breaches of Representations and Warrants; Appraisals and property inconsistencies; RESPA, HOEPA and TILA violations, Bankruptcy status and discrepancies; Document and origination errors; Credit violations, including income, ratios and credit history and Occupancy.
Opposed with well-chosen, compelling arguments and sensible strategies. Fraud investigations in support of various mortgage institutions, which include but not limited to Bear Stearns, Countrywide Lehman Brothers, Goldman Sachs and Bank of America
FNMA and FHLMC guidelines, underwrote residential assets for compliance reviews
Review and scrutinize credit reports, financial and income statements
Evaluation of debt ratios, loan-to value ratios, credit score and property valuation-Appraisal
Review and examine loan packages to determine alternative solutions to minimize risk or loss to include grading the loan for securitization purposes Audited closed residential loans to determine compliance with policies & procedures to determined approval is warranted while performing risk assessments and potential fraud
Risk assessment tools for decisions
Examines residential loan documentation for accuracy, completeness, and compliance with appropriate company and secondary market investor standards
Performed manual underwrite for quality control and compliance on ALT "A", Subprime, Conforming, Non-Conforming, Scratch and Dent, and FHA/VA for Secondary Marketing.
Knowledge of Automated Underwriting Systems to include DU, LP but not limited to
Servicing experience with Conventional, FHLMC and FNMA loans
Education
Oklahoma School of Business/Real Estate
Lawton, Oklahoma
Duncan High School
Duncan, Oklahoma
Training Skills
Completion of Fannie Mae Investigations Training, April, 2010
Fannie Mae DU & Modification underwriting Training
Freddie Mac DU & Modification underwriting Training
Fannie Mae Desktop Underwriter
Freddie Mac LP
Word Processing and Excel
Internet Sites
On-line Black book
Indeed.com for comparing salaries
Salary.com
Fannie Mae Desktop Underwriter
Freddie Mac LP
Lexus – Nexus
References Available Upon Request
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