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Sr.Underwriter, Underwriter Team Leader, DE Underwriter, Business Dev

Location:
United States
Posted:
March 21, 2011

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JERRY PETTEWAY

***** ***** ****** • Murrieta, California 92562

• wdmezx@r.postjobfree.com

(951) ***-**** (C)

Energetic, highly motivated professional with a broad and unique combination of loan origination and loan fulfillment experience. Dedicated to intradepartmental team building, staff development and effective management of staff. Solution-oriented operations strategist with common sense and integrity, thriving in challenging and fast paced environments while managing multiple assignments. Specializing in the utilization of product knowledge for the express purpose of providing quality customer service.

PROFESSIONAL EXPERIENCE

W.J. BRADLEY MORTGAGE – TEMECULA, CA 2009-PRESENT

Mortgage Loan Officer

Generate new business and originate mortgage loans for real estate professionals, referrals, existing clients and past clients. Responsible for selling conventional and government loan products by developing a loyal clientele base. Conduct credit analyses manually of documents provide by client and other sources, then conducted automatic underwriting system for loan submission to underwriting. When warrant would request exception to guidelines for existing relationship with a client and make recommendations to management regarding continuing to closure. Assign outside vendor appraiser to value property. Place appraisal order and paid invoice. Reconcile any discrepancies between the appraisal and the sales price. Prepare a report to document inadequacies identified, if the appraisal or value conclusion was considered unacceptable, I request senior appraiser reviewer to concur with decision. Review and determine effect of repairs, if any, on property values. Review photos for potential health/safety issues that may affect overall loan approval base on Inventor guidelines.

Key Achievement:

Instrumental in the start-up of W.J. Bradley Temecula Branch. Established and implemented loan processing procedures including loan originator packaging flow chart and tracking system, stacking order, and pre-submission audits and compliance procedures to optimize efficiencies and productivity. Provided leadership to branch operations including guidance on underwriting guidelines and loan processing issues on complex files requiring loan exception approval. Processed all loans during the first few months of operations and trained branch processor.

PARAMOUNT RESIDENTIAL MORTGAGE -TEMECULA, CA 2008-2009

Retail Loan Specialist

Business development, account management, cold calling and prospecting for new residential, and builder customers. Responsible for selling residential and builder loan products. Conduct credit analyses manually of documents provide by client and other sources, then conducted automatic underwriting system for loan submission to underwriting. When warrant would request exception to guidelines for existing relationship with a client and make recommendations to management regarding continuing to closure. Assign outside vendor appraiser to value property. Place appraisal order and paid invoice. Review appraisal report for accuracy. Reconcile any discrepancies between the appraisal and the sales price. Prepare a report to document inadequacies identified, if the appraisal or value conclusion was considered unacceptable, I request senior appraiser reviewer to concur with decision. Review and determine effect of repairs, if any, on property values. Review photos for potential health/safety issues that may affect overall loan approval base on Inventor guidelines.

Partnered with local realtors on marketing strategies including; open houses, consumer presentations and print ads

JERRY PETTEWAY • Page 2

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PROFESSIONAL EXPERIENCE CONTINUED

WASHINGTON MUTUAL BANK – HEMET BRANCH, CA 2005 - 2007

Retail Loan Center Supervisor

Opened and operated Hemet Retail Loan Center. Ensured the effective administration of the day-to-day operations, process efficiencies, quality control and operations. Created and implemented new operating procedures, production management, flow charts and tracking systems. Recruited, hired, mentored and trained staff; conducted annual employee reviews and calculated bonuses. Built and managed strategic alliances with local realtor board members, affiliates and community organizations. Successfully established the Washington Mutual brand as a viable competitor and mortgage lender in the Hemet/San Jacinto area. Actively participated as a member of the local Board of Realtors' Community Outreach Committee raising funds for several local non-profit community-based programs as an advocate of corporate social responsibility

WASHINGTON MUTUAL BANK – TEMECULA, CA 2002 - 2005

Retail Loan Consultant

Created a presence in the Riverside/San Bernardino Region by soliciting new Retail Real Estate Brokers. Delivered customer presentations to local realtors highlighting benefits of Washington Mutual products and services. Conduct credit analyses manually of documents provide by client and other sources, then conducted automatic underwriting system for loan submission to underwriting. When warrant would request exception to guidelines for existing relationship with a client and make recommendations to management regarding continuing to closure. Assign outside vendor appraiser to value property. Place appraisal order and paid invoice. Review appraisal report for accuracy. Reconcile any discrepancies between the appraisal and the sales price. Prepare a report to document inadequacies identified, if the

appraisal or value conclusion was considered unacceptable, I request senior appraiser reviewer to concur with decision. Review and determine effect of repairs, if any, on property values. Review photos for potential health/safety issues that may affect overall loan approval base on guidelines.

Partnered with local realtors on marketing strategies including; open houses, consumer presentations and print ads.

Key Achievement:

Originated $25 million in annual loan production

Obtained approval from executives to open new Retail Loan Center in Hemet, CA

JERRY PETTEWAY • Page 3

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PROFESSIONAL EXPERIENCE CONTINUED

1ST NATIONWIDE MORTGAGE CORP. – BREA, CA

Wholesale Account Manager 1999 - 2002

Open new territory (cold calling) in Riverside/San Bernardino areas and generated new mortgage broker relationships making 1st Nationwide Mortgage one of their premier investor. Identify customer development and training needs. Provide training as needed on effective workflow systems to submit complete package in compliance with regulatory and pricing procedures for Community Reinvestment Act (CRA) loans. Proactively reviewed mortgage broker loan packages to facilitate the loan process and ensure compliance with guidelines. Acted as the liaison between the Loan Fulfillment Center team departments to facilitate priority workflow and enhance customer satisfaction. Assign credit scores to aggregated data from multiple loans based on the company’s proprietary processing or loan origination software. I recommended for new policies to minimize fraud and control other risks more effectively. Review and manage outstanding repurchases. Worked with lenders to resolve issues or repurchase loan, and collect funds. Respond to underwriting and product inquiries and escalated issues as appropriate. Conduct credit analyses using standard and more advanced methods and tools of aggregated data provided by clients or other sources of data. Prepare report after credit risk evaluation on reason to recommend client for approval.

Key Achievement:

Exclusive Regional Community Reinvestment Act (CRA) specialist in the Riverside and San Bernardino counties. One of only 3 account managers authorized to sell the CRA product in Southern California.

Built and maintained strategic business alliances with key accounts, developing loyal clientele base, capturing sales increases, cementing market share and accelerating overall revenue growth.

Delivered customer presentations to executive level decision makers, highlighting benefits of the company’s operations, product portfolio while providing solutions to help streamline loan turn times, increase efficiencies and revenues.

Development over 30 new relationships with Mortgage Brokers and closed on an average of $1.5M to $3M

1st Nationwide Contract Senior Underwriter for PMI Mortgage Insurance Co. 1998 -1999

I provided on-site private mortgage insurance underwriting of a variety of mortgage products including; wholesale loans, retail loans with a community 2nd and MCC Credit Program loans.

Conduct credit analyses from documents provided by clients and other sources of data. Examine risk elements of proposed purchase. If exceptions to guidelines were warrant due to existing relationship with a client I make recommendations to management regarding continuing to closure. Reconcile any discrepancies between the appraisal and the sales price. Prepare a report to document inadequacies identified through the review process, if the appraisal or value conclusion was considered unacceptable. Review and determine effect of repairs, if any, on property values. Review photos for potential insurance claims issues.

Interfaced with the VP of Loan Fulfillment to provide input on strategies to affect organizational goals and maximize productivity.

Key Achievement:

Offered a permanent position as an exclusive Wholesale Account Manager for CRA programs.

JERRY PETTEWAY • Page 4

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PROFESSIONAL EXPERIENCE CONTINUED

SRS GROUP – MONROVIA, CA 1994 -1997

Underwriting Manager and Compliance Auditor

Long-term contract Underwriting Manager for SRS Group, the premier professional staffing firm for the mortgage industry in Southern California. Fulfilled three long-term projects of various disciplines for major mortgage bankers to meet backlog deadlines or delivery dates.

Indy Mac - Team leader/Conduit Loans and New Construction Underwriter

Oversight of daily productivity of a staff of 12 including 8 underwriters and 4 processors to ensure achievement of goals and objectives. Provided leadership to underwriting team members to resolve complex scenarios for exception approval/escalation path. Expeditiously moved files from submission to closing. Communicated credit decisions to production staff and underwriting team members. Underwrote mortgage broker loan packages for salability in the secondary market by applying extensive knowledge of underwriting requirements for FNMA, FHLMC, FHA, VA and the secondary market.

Key Achievements: Conceptualized, created and executed a restructured workflow process for underwriting and processing team incorporating innovative strategies to improve existing organizational processes. Trained underwriters and senior processors on new workflow procedures to expeditiously move urgent files from submission to closing.

Increased team productivity

Recognized for best turn times on 3 consecutive months.

Nations Bank- Senior Wholesale Underwriter

Responsible for underwriting broker loan packages for salability in the secondary market. Conditioned and signed-off outstanding loan conditions post-closing to fulfill bank requirements.

East West Bank- Auditor

Performed due-diligence audits on closed mortgage loan files to ensure compliance with OTS (Office of Thrift Supervision) & FDIC (Federal Deposit Insurance Corporation) regulations. Performed in-house secondary market compliance review to ensure salability to investors.

JERRY PETTEWAY • Page 5

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PROFESSIONAL EXPERIENCE CONTINUED

Plaza Home Mortgage – Santa Ana, CA 1993-1994

Chief Corporate Underwriting Manager

Supervised and audited branch underwriters within a 5 state territory covering California, Florida, Washington, Oregon and Massachusetts to ensure compliance with PMI, GE, MAGIC underwriting guidelines. Evaluated employee performance and issued signing authority to new underwriters. Coordinated staffing requirements to meet quarterly and annual corporate closing projections. Authorized and facilitated corporate exception approvals and expedited priority files for branches requiring assistance. Assisted the VP of Underwriting with the review of investor master policies and drafted corresponding underwriting guidelines for company-wide distribution.

Bank of America – Brea, CA 1991- 1993

Senior Underwriter

Maintained daily flow of incoming loan files for 4 retail branches in San Bernardino and Los Angeles counties including the Wilshire District branch. Underwrote A through C credit files and provided second level review for declined Neighborhood Advantage/CRA transactions.

CERTIFICATIONS:

AIB School of Banking - Commercial Lending

Glendale Federal - MGMT Training Course

Plaza Home Mtg. - Direct Endorsement Code - FHA

Bank of America – Appraisal Review Certification

Riverside County – Community Reinvestment Certification

City of Temecula – Community Silent 2nd Program

Point • DU • LP • FraudGUARD • Nile • Tigris MS Word • MS Excel • MS PowerPoint • MS Outlook • MS Office XP



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