Barbara Farrar
Chesterfield,VA
Summary
Over 20 years’ experience in the financial industry to include mortgage origination, processing, underwriting, compliance and loss mitigation. Experience in due diligence, KYC and fraud prevention. Proficient with Encompass, Black Knight Director, BITB, LoanSphere, Alfresco and Microsoft Office software.
Overview
23
23
years of professional experience
1
1
Certification
Work History
Senior Loss Mitigation Underwriter
Citizens Bank
01.2024 - Current
- Review waterfall eligibility options for conventional, FHA, VA and USDA loans.
- Determine the loan workout program that meets investor guidelines and benefits the client.
- Calculate income, review credit history and financial statements.
- Update systems to reflect program approval or denial.
- Order title, valuations and credit reports as needed.
- Verify escrow accounts are accurate.
- Register loan modifications with investor per requirements.
- Daily pipeline review to ensure all files are decisioned in a timely manner.
- Review completed files for internal and external audits.
Senior Loss Mitigation Specialist
Rose International (Trusit Bank)
08.2022 - 02.2023
- Company Overview: Temporary Position
- Review Loan Modifications for accuracy and compliance with federal, state and local regulations.
- Calculate state tax and recording fees.
- Prepare loan modification documents for recording.
- Research modification rejections and make corrections.
- Temporary Position
Senior Conventional Underwriter
Guaranteed Rate
03.2020 - 06.2022
- Upfront loan decision on conventional loans within 24-48 hours.
- Post closing quality assurance review of loans to ensure investor guidelines are met.
- Extensive analysis of loan package to include credit, income, and financials to deliver a valid credit decision.
- Ensure every loan is in compliance with federal, state and investor regulations.
- Research and verify borrower’s information is accurate using due diligence process and investigate for potential fraud risk.
- Review of conventional appraisals and title commitments.
- Daily use of DU and LPA systems and Encompass.
- Work with sales teams on complex loans to determine resolutions.
- Ability to adapt in a fast paced, changing environment.
Underwriter III – Team Lead
Movement Mortgage
05.2014 - 01.2020
- Upfront credit underwriting decision for conventional, VHDA, FHA and VA loans including FHA SL and IRRL.
- Analyze credit/income and asset documentation to determine risk assessment for loan applicants.
- Ensure every loan is in compliance with federal, state and investor guidelines.
- Extensive experience with self-employment income analysis.
Loan Officer, HARP Underwriter, Team Lead
SunTrust Mortgage
09.2011 - 05.2014
- Originate conventional, FHA and VA loans via inbound and outbound calls and referrals.
- Provide excellent customer service by keeping the borrowers informed throughout entire loan process.
- Review income and asset documentation and credit report prior to loan submission.
- Extensive knowledge of all loan programs to advise the borrower on the best options.
- Processed and manually underwrote conventional first mortgage loans under the government HARP program.
- Reviewed title and subordination agreements.
Senior Loan Officer
Bank of America
02.2002 - 08.2011
- Originate conventional, FHA, VA, RD and VHDA loans in a retail environment.
- Build and maintain relationships with realtors, builders and other referral sources.
- Kept referral partners informed of industry change by individual and group presentations.
- Reviewed all loan documents for completeness.
- Reviewed income and asset documents, credit reports prior to loan submission.
- Met with borrowers to achieve high levels of customer service during the process.
- Active in Homebuilders Association and Realtor's Association.
Education
Associates Degree - Business Finance
Ferrum College
Ferrum, VASkills
Mortgage Underwriting
Mortgage Processing
Credit Analysis
Detailed Document Review
Customer Service
Certification
NMLS, #324232
Timeline
Senior Loss Mitigation Underwriter
Citizens Bank
01.2024 - Current
Senior Loss Mitigation Specialist
Rose International (Trusit Bank)
08.2022 - 02.2023
Senior Conventional Underwriter
Guaranteed Rate
03.2020 - 06.2022
Underwriter III – Team Lead
Movement Mortgage
05.2014 - 01.2020
Loan Officer, HARP Underwriter, Team Lead
SunTrust Mortgage
09.2011 - 05.2014
Senior Loan Officer
Bank of America
02.2002 - 08.2011
Associates Degree - Business Finance
Ferrum College
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