Mortgage, Broker, Due Diligence Analyst, Commercial
Resume:
CATHY J. MCKAY
DELRAY BEACH, FLORIDA 33444
PHONE/FAX 561-***-**** CELL 561-***-****
RESUME
BUSINESS EXPERIENCE OVERVIEW
Employed in the Mortgage Banking industry in various capacities with extensive experience in sales and secondary marketing due diligence. Also previously employed as a commercial loan officer in a wholesale environment. Have participated in numerous due diligence audits for the purchase, securitization or loss mitigation of residential mortgage loan pools for lenders/investors such as Countrywide, Wells Fargo, Bear Stearns, Goldman Sachs, and many others. Experience covers due diligence underwriting of all grades of mortgage products as well as factoring on notes receivable and accounts receivable. Previous experience also includes working as a mortgage broker licensed in California and Florida and originating loans on a nationwide basis.
Key Skills-
-Strong sales/negotiation skills with past production levels at 10-15 closings per month.
-Ability to work with support staff and third party sources to resolve issues and insure a timely completion of transactions.
-Qualifying skills to include credit analysis of all types of borrowers- W2, self employed, corporations.
-Credit evaluation to include analysis of credit reports regarding credit scores, credit history and issues such as liens, judgments, bankruptcies, charge offs.
-Legal review of Note/Mortgage for proper execution, notarization, endorsements, assignments, due on sale clauses, prepayment penalties, and terms.
-Appraisal review regarding value assessment, property condition, comparable sales, location, debt service ratio, value adjustments, and deferred maintenance requirements.
-Title review for proper vesting, type of ownership, lien placement, or judgments.
-Compliance review for assurance of proper adherence to Federal Laws for Section 32 requirements, Respa/Truth in Lending, APR, HUD, Right to Cancel, as well as individual State requirements regarding fees, etc.
-Servicing review for pay history and evaluation of issues with slow pays, as well as review of all pre foreclosure or REO documentation for loss mitigation.
-Make recommendations in regard to the grade of loans reviewed and the risks involved according to the guidelines of each investor.
-PC ability to include the use of various excel based mortgage banking programs as well as CRM programs such as Act and Salesforce.
Available to travel and/or relocate.
Education- Fullerton College/Business Administration major.
Employment History
2006-Current
Various contract positions. Most recent due diligence projects have involved working in a remote virtual environment on loans in default, foreclosure, or buyback status. Scope of projects cover credit, compliance, and servicing reviews for loss mitigation.
2005-2006
Interbay Funding LLC, division of Bayview Financial/Commercial Loan Officer- managed client database to originate and close small commercial loans to $1,000,000 through mortgage brokers located in the southeast region of the U.S.
1999-2005
Relocated to Florida from Southern California in 1999.
Operated a net branch origination business independently as a licensed Mortgage Broker doing business primarily in the State of Florida. Also participated in numerous projects on a contract basis involved in due diligence audits for the purchase and securitization of all grades of mortgage related products on a nationwide basis. Assignments involved travel to project locations. Clients have included Bear Stearns, Goldman Sachs, Lehman Brothers, GMAC/RFC, Countrywide, and others.
1997-1999
Pacific Prime Mortgage/Loan Officer- Originated home loans (primarily 125% second mortgages) for the retail level of Preferred Mortgage through company generated leads. Carried a large pipeline of transactions funding on a nationwide basis with monthly fee generation of $50,000 to $70,000.
1995-1997
United Lending Group/Loan Officer-Originated home loans (primarily subprime) as a broker/direct lender through company generated leads. Carried a pipeline of 30-40 loans with 10-15 closings per month nationwide.
1992-1994
Westminster Mortgage division of Shappell Industries- Responsible for providing mortgage financing for eleven housing developments of upscale homes in Southern California. Duties included credit evaluation of perspective buyers with recommendations to upper management on acceptance of offers to purchase. Provided financing through various lenders or as a direct lender, and worked with companies with executive relocation needs.
1990-1992
Mortgage Broker- Originated and closed loan transactions from client and realtor sources through various banks and lending institutions, primarily high end residential transactions at $500,000 and up.
1988-1990
Chase Manhattan Bank/Relationship Manager- Duties included development of banking relationships with upscale clientele through mortgage related products, credit evaluation and underwriting loan transactions according to Chase guidelines.
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