Mortgage Underwriter

Damilola John Alao

Orange, NJ

**************@*****.***

Phone: 332-***-****

SUMMARY

Regulation and Compliance-focused conventional mortgage underwriter with 4 years relevant experience in utilizing DU/LP, calculating income, reviewing credit reports, assets, liability, tax certificate, title, and appraisal. Excellent communication skills, as well as engaging personality with the ability to put others at ease, quickly building relationships based on mutual trust and respect. I am experienced in the art of multitasking with a strong eye for detail. Possess exceptional experience in computer skills, MS word, Excel, Access & Power point. In depth knowledge working of AUS systems, proficiency in desktop underwriter and loan product advisor.

Underwriting Skill:

Deep Knowledge of Fannie Mae and Freddie Mac guidelines. Strong attention to details. Extensive narratives for underwriting decisions made to be shared downstream. Ability to work in a face paced environment and meet daily goals. Excel, analyze number, willingness to learn, trainable and problem solver. Work independently in a remote work at home environment.

Deep understanding of TRID requirements.

PROFESSIONAL EXPERIENCE

Digital Risk June 2019 - Present

Mortgage Underwriter

Responsibilities:

•Develops and maintains a loan underwriting portfolio consistent with the FNMA and FHLMC guidelines for credit quality and Investor standards.

•Ability to manually underwrite complex transactions to ensure the loan meets established guidelines.

•Compute income and debt ratio calculations following program guidelines and ability to repay requirements.

•Performs mortgage credit analysis without assistance of AUS.

•Maintains production goals & standards in accordance with established SLA's and metrics.

•Performing due diligence on closed mortgage origination loan files.

•Perform evaluations on appraisal products.

•Making appropriate recommendations, sharing findings for each file through a detailed summary to the client for each mortgage loan file.

• Manual and AUS underwriting all varieties of residential mortgage loan products.

•Accurately determine, document, and communicate loan conditions.

•Maintain knowledge of all applicable underwriting guidelines, mortgage-related laws/regulations. and current industry practices.

•Review and respond to quality control and internal performance audit results.

•Review and respond to conditions.

•Underwrite residential loans (Conventional loan, Fannie Mae/ Freddie Mac) while

ensuring compliance with appropriate company and secondary market investor standards as well as compliance with lending regulations.

•Residential Lending Specialists and loan processors with an explanation behind credit decision as needed.

•Analyze borrower’s credit file, collateral and capacity to ensure creditworthiness.

•Provided meticulous attention to detail in underwriting mortgages.

•Evaluated the financial strength of borrowers to determine risk and repayment capacity.

•Balanced the need for loan-volume growth with the equally important necessity of optimum underwriting quality to minimize risk while maximizing profitability.

•Work independently and on a team, depending on the project, to enhance search engine results.

•Exercise good judgment conducts reasonableness test and issues quality decision.

•Determined accuracy and completeness of files, ensures processes are consistent.

•Served as an expert on web search, video, and digital search trends and multitask on multiple evaluation projects.

•Use qualitative data to provide recommendations on optimizing search engine results.

•Presented evaluation findings to the department along with recommendations and solutions.

•Maintained compliance with lending, underwriting and government requirements.

•Worked with processor and loan officers to ensure correct conditions were collected.

•Responsible for reviewing all areas of the mortgage loan to ensure accuracy, completeness, and compliance with internal and regulatory guidelines, including but not limited to Application, Title, Appraisal, Assets, Credit, Condominium information, and income.

Capacity LLC

Production Line supervisor: Sept. 2017 – May 2019

Sapphire Mortgage

Assistant Mortgage Underwriter: June 2015 – Aug. 2017

Responsibilities:

•Validated the accuracy of credit and appraisal review to determine if processes and documentation are in compliance with internal vendor requirements, insurer guidelines, investor requirements, and/or government regulations.

•Evaluated loan applications for risks and various criteria and reviewed 1003 to make sure it is accurate and complete, compare to findings to verify qualification and any red flags or additional risk by analyzing income documentation, property tax, credit reports, preliminary reports, judgments, bankruptcy documents and appraisals, and personal and business income statements.

•Great knowledge of DU, LP or internal underwriting engine, made sensible decisions by following suitable underwriting procedures.

•Determined credit worthiness and risk associated with borrower based on credit profile.

•Analyze calculations and verifications of income, assets and evaluations of credit reports, purchase contracts, appraisals, title commitments, and other loan pertinent documentation.

•Determine if a file is ready to be underwritten, if not ready, ability to determine missing critical documentation.

•Ensure that approval falls within the established lending guidelines.

•Review initial loan approval and work with borrower to gather appropriate documentation.

•Underwrote conventional (conforming and non-conforming) residential mortgage loans per product and investor guidelines through AUS and/or manual underwriting.

Education

B.Sc. Computer Science- Graduated 2012

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