Senior Mortgage Underwriter

MICHAEL A WASHINGTON

*** ** ********* ****** • Ankeny, Iowa 50021 • 515-***-**** ************@*****.***

Results oriented underwriter with extensive experience in credit risk analysis and risk mitigation. A positive team player with strong interpersonal, communication and presentation skills, I am able to effectively convey information to various levels of management in a professional and positive manner. A skillful negotiator, I am flexible in dealing with changing environments and adept at shifting priorities while meeting deadlines. IT proficient, I possess operating knowledge of Microsoft Office suite, Fannie Mae DU, Freddie Mac LP, LexisNexis and various other mortgage and validation software platforms.

PROFESSIONAL EXPERIENCE

Independent Contract Underwriter February 2010- Present

Conduct due diligence, compliance and collateral review for several contract firms either via imaged files at my home based office or as a traveling consultant.

Primary functions are to underwrite the files according to the trade specifications and grade the loans according to standards. Some of the trades are scratch and dent transactions which require a compliance and collateral review. Currently engaged by JCIII & Associates and American Mortgage Consultants

Contract Underwriting Consultant (April 2009- Nov 2009) Starpoint Solutions, LLC

Conducted post purchase risk assessment review of defaulted mortgage loans with an emphasis on determining material findings and loan eligibility according to Fannie Mae's Selling Guide as defined by contracts with Fannie Mae's lender partners

Assessed pre purchase risk regarding deficiencies identified during the review process and recorded all findings and review conclusions in QAS (Quality Assurance System)

Performed a forensic eligibility review utilizing the tools and processes available and identified transaction components which indicated underwriting deficiencies, misrepresentation and fraud

Communicated the results of file reviews via concise written communication which focused on concrete material findings to internal and external shareholders, reviewed and responded to rebuttals and negotiated settlements on aged impasse files

Underwriting Team Lead (Oct. 2007 – Nov. 2008) CitiMortgage Inc

Responsible for the resolution of escalated underwriting, pricing, closing and funding issues for the wholesale lending channel

Assisted in the review, development and monitoring of corporate underwriting policies and procedures

Identified underwriting deficiencies and created corrective action plans.

Underwrote loans to investor guidelines to insure loan salability and compliance

Motivated, developed and trained team members on corporate underwriting policies and procedures

Conducted second level review of in-house, contract and tri-party contract underwritten files

Underwriter III (Apr. 2005 – May 2007) Wells Fargo Home Mortgage

Responsible for underwriting and decisioning of mortgage loan applications submitted via the wholesale broker channel

Reviewed the applicant’s credit, financials, collateral and title to ensure veracity, accuracy and adherence to established company and industry guidelines

Examined transactions utilizing fraud detection techniques to mitigate risk while maintaining a balance with production efficiency

Performed second level review for junior underwriters

Reviewed legal and regulatory/compliance documents for accuracy

Contract Underwriter (February 2004 – September 2004) Aurora Loan Servicing

Responsible for underwriting mortgage loan application for diverse mortgage entities in compliance with multiple investor guidelines and requirements

Provided guidance and direction to junior team members

Acted as liaison between client and Principal regarding production goals and requirements

Senior Underwriter (June 2003 – January 2004) E*Trade Financial

Assisted in the establishment of repurchase guidelines and policy

Responsible for pre purchase compliance and regulatory review of bulk flow transactions.

Reviewed and communicated terms and conditions of loan purchase approval to Sellers and AE’s to ensure guideline conformance and salability of loans on secondary market.

Loan approval authority to $1 million with exception authority

Contract Underwriter (June 2002 – March 2003) Washington Mutual Home Loans

Responsible for the complete review of mortgage loan submissions which included the verification of all income and asset documentation, pricing review, collateral review and loan structure review.

Ensured compliance with federal, state and investor regulations and requirements

Effectively reviewed and communicated all terms and conditions of loan to clients to ensure that all conditions were properly met in a timely manner.

Loan Consultant (March 2000 – January 2002) Washington Mutual Bank

Averaged $15 million in annual loan sales production

Responsible for the origination and marketing of conventional, government and portfolio mortgage loan applications utilizing FNMA, FHA and VA guidelines.

Two-time recipient of monthly top producer award for loan volume and profitability.

Education

Columbia College, Columbia University 1978-1980 Coursework completed

References Available Upon Request

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