Mortgage Professional
Resume:
Lauretta J. Wilson
Loganville, GA 30052
SUMMARY BACKGROUND
Extensive experience in assessing compliance with Federal laws,
regulations, and corporate policy. Diverse background of compliance,
credit and operations analysis. Strong analytical skills,
problem-solving techniques, and technical writing ability.
EMPLOYMENT HISTORY
Atlanta, GA December 2002-Present – Independent Contractor
UNDERWRITER - Wells Fargo Home Mortgage (“WFHM”) March 2009 – June 2009
Thru Contemporary Mortgage Services, Inc.
• Underwrote conforming wholesale loans up to $450,000 for multiple brokers in accordance with WFHM, Freddie Mac and Fannie Mae guidelines in a fast-paced, high-volume setting.
• Cleared all conditions that could not be performed by an underwriting assistant.
• Reviewed correspondent loans subsequent to issuance of approval to ensure that loans were underwritten in accordance with WFHM, Freddie Mac and Fannie Mae guidelines. If not property underwritten, added the conditions needed in order to bring the loans into compliance.
• Audited correspondent loans prior to closing to ensure that all data entered into LPS (WFHM’s proprietary system) and Opera was consistent and accurate.
DUE DILIGENCE UNDERWRITER – Clayton Services, Inc. January 2006 – February 2009
• Reviewed loan portfolios on behalf of discount brokers in order to assess net value for the trading of bulk securities on Wall Street.
• Primarily reviewed portfolios of conforming, nonconforming and subprime first mortgage, second mortgage and home equity loans but also reviewed consumer product including automobile, boat and yacht loans.
• Reviewed loans originated in all 50 states and the province of Puerto Rico at loan servicing facilities located in the contiguous United States and the province of Puerto Rico.
• Loan review included compliance review, the review of collateral value and a determination of whether the loans were property underwritten and/or whether any fraud existed in the underwriting process or with the documentation utilized for credit analysis.
• For one lender in conservatorship, reviewed all mortgage loans, conventional and government, prior to closing to ensure that loans were properly underwritten , properly disclosed, and met all agency and government guidelines.
UNDERWRITER – Radian, PMI, Triad Guaranty Insurance, RMIC December 2002 – December 2005
• Underwrote conforming, non-conforming and sub-prime loans up to $650,000 for multiple investors in accordance with applicable guidelines in a fast-paced, high-volume setting.
• Recommended alternative programs to sales staff in lieu of denying credit applications.
• Provided training to processors to ensure complete packages were submitted to underwriting.
• Supported sales staff and provided customer service to various brokers and correspondents.
• Proficient in several loan origination systems and an advanced user of Desktop Underwriter and Loan Prospector.
FREDDIE MAC Atlanta, GA
Senior Fraud Investigator June 2001 - September 2002
• Detected, investigated and resolved suspected institutional and loan-level mortgage fraud.
• Investigated fraud tips and prepared case files.
• Used internal and external databases to obtain background information.
• Worked with external investigators to obtain court documents, as well as with law enforcement personnel.
• Investigated fraud tips and prepared case files.
• Developed cases regarding identified fraud and presented results to internal and external customers for closure.
• Conducted fraud seminar for internal and external customers.
Senior Examiner January 1996 - June 2001
• Conducted audits of seller/servicers to determine the level of compliance with the Freddie Mac Single-Family Seller/Servicer Guide.
• Obtained pertinent business and operating information through interviews with senior management in each respective business area in order to address the significant risks between Freddie Mac and its approved seller/servicers.
• Completed specific audit programs while on-site, and responsible for the development of a written report upon conclusion.
• Conducted exit meeting with senior management to advise of findings and conveyed said findings to senior management subsequently through a formal audit letter.
• Responsible for ensuring that corrective action implemented by the seller/servicer for all issues detailed in the audit letter.
THE RESOLUTION TRUST CORPORATION
Asset Specialist Baton Rouge, LA December 1991 - January 1993
• Supervised the management and servicing of two loan portfolios comprised of assets aggregating $248 Million.
• Monitored Contractors' operations to ensure that loans were serviced and collateral security disposed of in accordance with established policy.
• Mediated disputes between the debtor and Contractor.
• Negotiated with debtors to keep assets current and improve settlement offers.
• Authorized to approve compromises on assets in an amount not to exceed $500,000.
• Assisted with marketing efforts to dispose of assets in excess of $30 Million.
• Member of team that facilitated weekend efforts to close one institution on Friday to re-open as a new entity on Monday morning.
Operations Specialist Atlanta, GA January 1993 - December 1995
• Coordinated the payment of dividends totaling Billions to all creditors.
• Performed liability reconciliations to ensure the validity of entries posted to the general ledger.
• Audited complex transactions including all monthly entries to the general ledger.
• Recommended correcting entries for discrepancies detected in general ledger entries.
• Member of team that reconciled all accounts and balanced general ledger facilitated weekend efforts to close one institution on Friday to re-open as a new entity on Monday morning.
PICKERING AND ASSOCIATES September 1991 - December 1991
Due Diligence Examiner New Orleans, LA
• Conducted due diligence to assess portfolio value on behalf of entities considering bank merger.
• Based on the review, responsibility included conducting present value analysis in order to mark the assets to market value.
• The reviews included reviews of commercial, real estate and consumer loan portfolios.
OFFICE OF THRIFT SUPERVISION Dallas, Texas
Federal Thrift Regulator Dallas, TX May 1986- September 1991
• Conducted in-depth examinations of federally insured financial institutions.
• Supervised team of examiners, prepared examination report and developed corresponding supervisory letter when functioning as examiner-in-charge.
• Analyzed all phases of operations including financial results, loan portfolio reviews (performing and non-performing)and reviews of corporate policies and procedures.
• Based on the review, responsibility included conducting present value analysis in order to mark the assets to market value.
• Presented examination findings to the board of directors upon completion.
RIVER CITY FEDERAL SAVINGS BANK 1983- May 1986 Baton Rouge, LA
Loan Officer
Underwriter
Servicing Specialist
Closing & Shipping Specialist
CAMERON BROWN COMPANY 1982 - 1983 Baton Rouge, LA
Loan Processor
DEPOSIT GUARANTY MORTGAGE COMPANY 1981-1982 Jackson, Mississippi
Guaranty Clerk
EDUCATION
1977-1980 University of Southern Mississippi Hattiesburg, Mississippi
B.S. Business Administration in August 1980.
Major - Real Estate and Insurance
Relevant course work included:
Real Estate, Real Estate Appraisal, Insurance, Finance, Accounting, Economics, Business Law, Money and Banking, Statistics.
1976-1977 Millsaps College Jackson, Mississippi
Professional Education:
Attended numerous continuing education training courses involving real estate and appraisal issues, mortgage fraud (including conducting interrogations), finance, accounting, white collar crime, computer usage, and communications topics. Specific course titles will be provided upon request.
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