Loan Underwriter Mortgage
Resume:
Michael B. Jackson
Landover Hills, Maryland
adujx1@r.postjobfree.com
Underwriter, Lender, and Auditor with over 25 years experience in mortgage, commercial, and consumer loans to include over 10 years serving in upper management positions seeking to apply demonstrated abilities and proven skills in a challenging role
PROFESSIONAL EXPERIENCE
American Financing Corporation Aurora, CO 2021 - 2022
MORTGAGE LOAN UNDERWRITER (Frontline Underwriter)
Underwrote mortgage loan files to ensure compliance with company and investor guidelines with individual loan approval and credit granting authority.
Performed the complete income calculation of salaried and self-employed borrowers, performed the complete and thorough analysis of credit, income, assets, appraisals, and title commitments. Expert in the use of Fannie Mae Desktop Underwriter (DU) and Freddie Mac Loan Product Advisor (LPA) findings as well as in depth appraisal analysis, including in depth review of comparable properties
Issued conditional approval and cleared conditions on mortgage loan applications while providing meticulous attention to detail in underwriting mortgages.
Consistently met or exceeded production goals as well as Quality Control review expectations.
Opus Capital Market Consultants (Via Staffing Solutions Made Easy) 2019 - 2020
FORENSIC MORTGAGE LOAN UNDERWRITER (Contract/Remote)
Performed a complete re-underwriting of mortgage loans to determine if the loans were made in accordance with proper mortgage underwriting procedures and investor guidelines. Actions included: income calculation, appraisal review, title work review, credit report review, and asset review.
Maintained high proficiency ratings in manual underwriting and was assigned Quality Control audit functions after receiving high marks for quality loan underwriting.
Served as a Mentor by training newly hired underwriters and providing expert advice to underwriters
Demonstrated expertise with Fannie Mae DU and Freddie Mac LPA as systems and guidelines. Used automated systems such as Real Quest, PACER, AVM’s and others to research possible fraudulent loan documentation.
Analyzed Verification of Income (VOI), calculated customer’s correct front and back-end debt to income ratio and applied payment waterfall to determine if the borrower qualified for the loan.
Verified borrower’s occupancy and number of properties owned.
Signal Financial Federal Credit Union- Kensington, MD 2016 - 2019
MORTGAGE LOAN UNDERWRITER (Frontline Underwriter)
Underwrote mortgage loan files to ensure compliance with company and investor guidelines.
Approved or denied first mortgage loan applications with individual loan approval authority up to one million dollars resulting in a company record for closed loans in 2018.
Performed a thorough analysis of credit, income, assets, appraisal, title commitment and Fannie Mae DU and Freddie Mac LPA- formerly known as Loan Prospector (LP) findings as well as in depth appraisal analysis.
Issued conditional approval on mortgage loan applications, evaluated the financial strength of borrowers and leveraged knowledge of loan products to restructure turned-down loans.
Approved or denied home equity and second trust mortgages, served on credit union loan committee and wrote credit union loan policy and underwriting guidelines for 80/20 mortgage program and first-time homebuyer program. Approved mortgage forbearance plans and mortgage restructures.
Washington Mortgage Corporation- Largo, MD 2013 - 2016
MORTGAGE LOAN UNDERWRITER (Frontline Underwriter)
Underwrote, approved, denied, or made a counteroffer on purchase and refinance mortgage loan applications. Worked with loan processors to obtain the required documents for proper loan analysis and approval and performed a thorough analysis of credit, income, assets, appraisal, title commitment and Fannie Mae DU and Freddie Mac LP findings.
Performed in depth appraisal analysis while issuing conditional approval on mortgage loan applications. Evaluated the financial strength of borrowers to determine risk and repayment capacity and leveraged knowledge of loan products to help restructure turned-down loans for subsequent approvals. Primary responsibility for appraisal review.
Capital One Financial- McLean, VA 2009 - 2013
FORENSIC MORTGAGE RISK UNDERWRITER
Reviewed, analyzed, and completely re-underwrote mortgage loan files, including income calculation, associated with loans that Capital One was required to repurchase from investors. Mitigated loss by composing dynamic and compelling written rebuttals detailing the strengths associated with the loan so that investors would rescind their repurchase demand and mortgage insurance companies would reinstate coverage. This resulted in a savings to Capital One of approximately five million dollars per year. Investors included FNMA, Freddie Mac, Wells Fargo and Chase. Mortgage insurance companies included Radian, RMIC, PMI and Genworth.
Acknowledged by management as a leading producer of loss mitigation results.
Mortgage Dynamics- Upper Marlboro, MD 2003 - 2008
MANAGER OF MORTGAGE QUALITY CONTROL AUDITS
Created policies and procedures in a startup department and developed a new function into one of the highest revenue producing departments in the company.
Provided daily supervision and direction to a staff of underwriters, auditors, processors and administrative staff. Directly responsible for increasing clients from four clients in 2002 to over 20 clients in 2005. Performed business development duties.
Complete underwriting of mortgage loan files for a national quality control and auditing company. This included analysis of borrower’s income, debts, credit, appraisal analysis, and fraud detection. Management duties included assigning tasks, conducting interviews, hiring staff, training, handling personnel issues, and writing performance reviews.
PRIOR EXPERIENCE
Operated with individual loan approval authority at several banks and mortgage companies as a front-line underwriter dating back to 1995.
EDUCATION
Bachelor of Science Degree in Business Administration and Psychology Shenandoah University, Winchester, Virginia, National Dean’s List Honors
ADDITIONAL TRAINING and SKILLS
Designated as an Accredited Mortgage Professional by The Mortgage Banker’s Association
Completed MBA’s School of Mortgage Banking Courses I, II and III
Underwriting & Credit Evaluation Courses/Commercial Lending Courses by American Bankers Association
Expert in the use of FNMA D U, Freddie Mac LPA, Lexis Nexis, MERS and Real Quest
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