Barbara Alcaraz

ad028b@r.postjobfree.com

Midlothian, TX 76065

214-***-****

BUSINESS EXPERIENCE

Stearns Lending aka Sofi Lending LLC July 2019-November 2020 Loan Processor II

Responsible for processing Agency Purchase and Refinance mortgage loans from set-up to closing by verifying, compiling and entering borrower information to loan processing system.

Verify and analyze loan documentation including credit, income, appraisal and title.

Work closely with borrowers to ensure smooth process and complete transparency through loan closing.

Prepare mortgage loan file by reviewing loan application: clarifying or obtaining additional information.

Confirms mortgage loan application information by mailing verification forms; contacting verification sources.

Obtains mortgage loan documentation by ordering appraisal, title, and related information.

Identifies mortgage loan application and documentation problems by highlighting deficiencies; notifying mortgage loan underwriter and mortgage loan supervisor.

Prepares closing statements and informs borrowers by calculating principal and interest payments, and closing costs; forwards information to borrowers.

Maintains customer confidence by keeping mortgage loan information confidential.

Updates job knowledge by participating in educational opportunities; maintaining personal networks.

Provide an exceptional customer experience throughout the loan process through constant communication and follow-up.

Serves as a subject matter expert to assist other team members with system and loan challenges

Manage a pipeline of 30-35+ Agency/Jumbo purchase and refinance loans per month

loanDepot

Account Manager August 2017 - March 2019

• Review and analyze documentation provided on each loan including the all Agency specific forms, credit report, income and asset documentation, purchase agreement, title report, etc. to make an informed lending decision in compliance with HUD, VA and loanDepot policies and guidelines.

• Calculate borrower's income and debt-to-income ratios based on acceptable loanDepot and HUD/VA/USDA practices

• Render a lending decision within assigned lending authority in compliance with established underwriting guidelines and all state and federal reporting guidelines (Including but not limited to HMDA, RESPA)

• Document lending decisions and completes required screens in the LOS that include the accurate completion of the required Agency forms as well as adding and/or creating applicable conditions of the loan approval

• Review conditions submitted on loans from Brokers and signs off the condition when appropriate

• Work closely with Account Manager and/or Territory Manager to answer loan specific underwriting questions, to discuss specific conditions or documentation requested and to resolve problems

• Provide assistance to expedite final approval of the file

• Maintain and cultivate an effective working relationship with internal and external customers

Plaza Home Mortgage

Jr. Underwriter October 2015 – May 2017

• Responsible for assisting the Underwriters in set up and review of residential loan file documents.

• Sign off on underwriting conditions that are both noncredit qualifying and credit qualifying.

• Perform accurate data validation of file and update system of record, ensuing system data integrity

• As a liaison, communicate loan decision and conditions to CSR’s, brokers and correspondent clients

• Review Government Insuring Disclosures, Run and Review quality control tool Fraud Guard.

• Knowledge of FNMA, and FMLMC documentation and general guidelines/standards.

• Perform mortgage credit analysis, with or without the assistance of an AUS system for Conventional loans, to determine borrower's willingness and ability to repay the mortgage

• Review credit documents for completeness and accuracy

• Perform detailed review of appraisal for one-to-four family residential properties to determine acceptability of security for sale to Fannie Mae and Freddie Mac as well as loans sold to investors

• Partner with Sales to ensure mortgage applications are originated efficiently and in compliance with all regulatory requirements, especially as it pertains to Underwriting.

• Assist in resolving branch post-closing investor suspense issues. CitiMortgage

Repurchase Analyst October 2009 - February 2014

• Lead risk mitigation activities on a portfolio of repurchase claims made to or by CitiMortgage

• Minimize exposure on repurchase claims from investors or to counterparties within the terms and conditions of the governing purchase and sale agreement

• Mitigate risk through reasonable and sustainable counter-positioning of facts and strong positioning of issues and strong negotiation strategies

• Negotiate and execute remedies to offset exposure from repurchase utilizing delegated authority for decision making

• Evaluate counterparties’ financial strengths and weaknesses, create and implement a resolution strategy and complete a cost/benefit analysis to determine a course of action

Fannie Mae

Sr. Underwriter Tech Contractor August 2008 - November 2009 Sr. Loan Processor

• Processing Files: Files must be processed to confirm the contents of the file match the Fannie Mae and lender loan number. Includes checking for key core documents and request missing documents via QAS, running credit reports and uploading into QAS, and determining appropriate review path based on file type and decision criteria.

• Non-compliance File Management: Includes following up with lenders on files not received, contacting lender to try and receive files before it becomes non-complaint, and generating a repurchase letter if file becomes non- complaint.

• Significant Finding Letters Process: For review that generates a repurchase letter, technician must support SFL process. This can be up to 700 letters per month (not including non-compliance letters). Involves insuring accuracy, confirming correct lender information, assuring letter gets out on time and communicating with locations.

• Underwriter and Appraisal Assignments: Must manually assign reviews to and appraisers’ daily and determining appropriate assignment based on region, caseload and availability.

• Miscellaneous: Manage spreadsheets to populate reports used by management team, archive files, support Appraisal State Referral Process

• Performing research, analyzing moderately complex information, developing and presenting recommendations to constituents, working with and overseeing the work of outside business partners, etc. Works to ensure projects are completed on time and that stated objectives are met.

• Validating loan files, processing loan files, requesting missing documents, and working to review information with for due diligence and compliance

• Responsible to request and follow up with vendors on missing documents. Generate repurchase letters for missing documents, verify receipt of missing documents, take action in system of record

Bear Stearns Residential Mortgage

Sr. Loan Processor August 2006 – May 2008

• Processes conventional, Home Equity, FHA and Sub-prime loans, evaluate information supplied on residential loan applications and verifies its validity through outside sources (Appraisers, Credit Bureaus, Title Companies, Borrowers) and calculates debt-to-income and loan-to-value ratios

• Transmitted loan criteria into U/W, assembles loan package in accordance with designated lender’s program parameters, submits loan package to lender’s underwriting department, clears all conditions and prepares pre- closing instructions and coordinates loan closing

• Interacted with Mortgage Loan Counselors on a continual basis, keeps Branch Manager informed of significant difficulties uncovered during verification process and of weekly status of all loans in process

• Maintained open line of communication with homebuyers, answering questions and notifying of any information required

• Processed requests for extensions to applicant’s commitments in accordance with Bear Stearns policy. Notified borrower, and Region/Division’s Closing Coordinator of underwriting decision

• Interact with brokers and customers to complete underwriting and loan processing

• Completes final evaluation/analysis of processed application package and prepares file for approval, specifying and conditions to approval; prints submission documents, assembles submission file and prepares file for closing Department review

EDUCATION

Northwood University

Bachelors Business Management

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