Alicia Cross
Gilbert,Arizona
Summary
Versatile loan processing professional specializing in customer service and bank standards. Excellent communicator and decision maker with a strong eye for detail and a proactive nature. Manages high-volume loan paperwork in dynamic environments with high production, approval and customer relations targets. Expertise includes reviewing and validating personal, employment and financial histories for each applicant. Self-motivated and reliable with excellent teamwork, problem-solving and organizational skills.
Overview
6
6
years of professional experience
Work History
Wealth Management-Loan Processing
Morgan Stanley
07.2022 - Current
- Working with Morgan Stanley tier AAA asset clients Assets excessive of $3 million per account, running data and assessing the cashflow of each account versus the stock and IRA monies
- Worked NON-QM super Jumbo loans, reviewed initial loan applications and determined necessary documentation needed to in turn review minimal conditions at Conditional Approval
- Assessing closing fees and settling the Closing Disclosure with Title prior to Clear to Close.
- Verifying title reports are clear, vesting is accurate and any additional exceptions on Schedule B are approved and do not hinder lender lien position
- Perform all processing, pre-underwriting, and pre-closing tasks required to proactively manage mortgage loan files from receipt in processing to final disposition
- Verifying full Trust or Trust certificates are acceptable for use of Trust assets and vesting in a Trust or LLC Extensive knowledge of self-employed income, both S-Corp, Partnership and Schedule C
- A typical borrower has more than one business they own, working with clients and their CPAs to complete full Profit and Loss statements, along with Balance sheets to verify current year to date income is sufficient to handle the loan
- Checking loan applications for missing information and potential errors
- Gathering and checking appraisals, income verification and other documents for completeness and accuracy
- Evaluating homeowners’ insurance policies to determine the coverage, replacement cost estimates and verbiage is accurate and will not cause issues post-closing
- Running credit reports and evaluating creditworthiness Requesting additional information for the underwriter as needed
- Ensuring all deadlines for information submissions, underwriting decisions and closings are met
- Special projects outside of the department, working with servicer and post-closing team to determine why escrow accounts do not balance or have a current negative balance
- Lead meetings to continue educating and training loan processors
- Assisted in managing risk exposure by conducting thorough due diligence
- Participated in regular training sessions, staying up-to-date on industry trends and regulatory changes.
- Elevated client retention rates with exceptional customer service skills that addressed concerns promptly and efficiently.
- Enhanced team performance by fostering a collaborative work environment and sharing industry insights.
- Provided administrative support to senior bankers during complex deal negotiations or loan structuring processes.
- Served as a liaison between clients and internal teams, facilitating smooth transactions and prompt issue resolution.
Senior Mortgage Processor
Nova Home Loans
03.2020 - 07.2022
- Strong analytical, organizational, and problem solving skills Proficient/Strong knowledge working in Encompass
- Ability to manage time and works well under strict timelines Analyzing income, assets, and credit reports to determine payment worthiness
- Worked with multiple departments and vendors to provide a smooth transaction for the borrower
- Proficiency with DU and LP, FHA Connection and VA Portal
- Strong knowledge of calculating all income including self-employed borrowers and all variations of assets
- Identify any document deficiencies, add applicable conditions, and request additional information and/or documentation from Clients as needed
- Processing experience and comprehensive knowledge of conventional and government loan programs including CONV, VA, FHA, US Bond, and Jumbo Loans, as well as different brokered loans through AFR, ACC mortgage and Freedom
- Review loan packages to ensure compliance with investor guidelines, broker overlays and Nova direct overlays
- Ensured compliance with federal and state regulations by conducting thorough reviews of loan documents.
- Leveraged industry knowledge and experience to troubleshoot complex scenarios, finding creative solutions that benefited both lenders and borrowers alike.
- Mitigated risks associated with lending decisions by diligently verifying income, assets, and credit history information provided by applicants.
- Diligent and detail oriented in gathering and reviewing borrower documents to each loan guideline from preapproval to closing
- Ordered and review all appraisals, title documents, verification of employment, borrower disclosures, final inspections as applicable, mortgage statements and payoffs
- Analyzed complex loan transactions, conducted research, problem solving to ensure compliance with guidelines and standards Work with borrowers directly to obtain necessary documents and funds to process and push loan through underwriting into closing
- Developed strong relationships with realtors, title companies, and other industry professionals to facilitate smooth transactions.
- Managed a high-volume pipeline of loans, prioritizing tasks for optimal efficiency and client satisfaction.
- Mentored junior processors, sharing knowledge and best practices to improve overall team performance.
- Reduced errors in mortgage applications by implementing a robust quality control process.
- Facilitated seamless transitions from application submission to final approval stages with keen attention to detail throughout the process.
- In 2020 I processed 657 loans and for 2021 I processed and closed 591
Mortgage Processor and Underwriter
Cascade Financial Services
08.2019 - 03.2020
- Analyze all three credit bureau reports according to lending guidelines
- Evaluate credit worthiness, analyze all areas of the mortgage loan application; including credit, income, assets, collateral, and compliance documents to ensure loan meets company, investor and regulatory guidelines
- Review loan packages to ensure compliance with investor guidelines Review loans for compliance with all mortgage-related regulations (RESPA, TIL, HMDA, Reg
- B, etc.) and prepare required disclosure Communicate with various companies to obtain Property Survey, Flood Certificate, Title Commitment, and payoff information
- Manage pipeline by completing and submitting reports within allotted turn-around times
- Train and help supervise new loan processors and other processing and underwriting personnel
- Responsible for balancing and reconciling closing-costs and cash to close figures
- Responsible to review and confirm data in LOS that matches the loan file
- Complete full underwriting and AUS findings, verify all alerts are cleared and there are no compliance or state fees fails FNMA, FHLMC, FHA and VA knowledge
- Proficiency with DU and LP, FHA Connection and VA Porta
- Exceptional knowledge at calculating all income including self-employed borrowers and all variations of assets
- Optimized workflow efficiency by prioritizing tasks based on client needs and deadlines, ensuring timely completion of loans.
- Proficient/Strong knowledge working in Encompass
Underwriting Risk Analyst
Freedom Financial
03.2018 - 08.2019
- Assist in the oversight of portfolio monitoring functions such as retail quality control, default/foreclosure management, credit risk/solvency reporting and other portfolio monitoring reporting
- Assessed emerging risks through ongoing research and monitoring of industry trends, proactively addressing potential threats before they materialized into significant issues.
- Monitor historical performance through review of various credit metrics and credit risk reporting, inclusive of new originations and current portfolios
- Assess asset quality, status and appropriateness of existing risk controls/compliance with established underwriting policies/risk tolerance
- Ensure underwriting credit analysis is sound and justifies and mitigates the identified credit risk
- Review required documentation for loan review testing, inclusive of file reviews and complete necessary line sheets
- Ability to identify risks of loan structure and participates in discussions with credit risk as required and mitigate fraud with the ability to see manipulation of documents received
- Improved decision-making processes by providing insightful recommendations based on thorough risk analysis.
- Reduced financial losses due to effective identification and mitigation of potential risks in the portfolio.
- Established strong working relationships with both internal and external stakeholders involved in managing various types of organizational risks.
- Interprets and applies Bank policies, governmental regulations, and accounting theory Strong analytical skills as well as interpersonal and communication
- Ability to use critical thinking and make difficult judgement calls without wavering.
Education
Bachelors of Science in Finance and Economics -
Grand Canyon University
Masters of Business Administration -
Grand Canyon University
10.2017
Skills
- Fraud Detection Capabilities
- Risk Assessment Abilities
- Underwriting knowledge
- Pipeline Management Experience
- Loan Program Knowledge
- Document Review Mastery
- Credit Evaluation Expertise
- Mortgage Regulations Proficiency
- Residential mortgage lending regulations
- Generating Reports
Timeline
Wealth Management-Loan Processing
Morgan Stanley
07.2022 - Current
Senior Mortgage Processor
Nova Home Loans
03.2020 - 07.2022
Mortgage Processor and Underwriter
Cascade Financial Services
08.2019 - 03.2020
Underwriting Risk Analyst
Freedom Financial
03.2018 - 08.2019
Bachelors of Science in Finance and Economics -
Grand Canyon University
Masters of Business Administration -
Grand Canyon University