JOSEPH CERIO
Glendale,AZ
Summary
Experienced professional in mortgage underwriting and credit card fraud prevention with over 15 years of expertise in FHA, conforming, non-conforming, and high net worth loans. Demonstrated success in evaluating a variety of income sources, ensuring regulatory compliance, and adeptly leading high-performing teams. Experienced Insurance Sales Professional. Held P&C and L&H along with Series 6 & 63 Licenses.
Overview
30
30
years of professional experience
1
1
Certification
Work History
Underwriter III
Loan Depot
Scottsdale, AZ
06.2020 - 11.2023
- Successfully manage a $2 million FHA lending authority pipeline while adhering to company guidelines for conforming/non conforming files.
- Successfully manage a $2 million FHA lending authority while adhering to company guidelines for conforming files.
- Review existing and new homes purchase contracts to verify builder incentives, upgrades and signatures and communicate any concerns to the builder or client.
- Proficiently review wage income, self-employed, corporate, and partnership tax returns, profit and loss statements, asset depletion, and rental income, asset statements, title documents, and appraisals.
- Ensure compliance with appraisal requirements and AUS findings, maintaining meticulous documentation.
- Foster strong relationships with Loan Originators and Processors to resolve issues and provide solutions.
- Recipient of the Pinnacle Club award three times for being a top performing underwriter.
Corporate Sr. Underwriter
Bank of America Merrill
Chandler, AZ
02.2019 - 06.2020
- Managed a $2 million lending authority, specializing in high-net-worth customer purchase and refinance transactions.
- Review existing or new build purchase contracts to verify builder incentives, upgrades, and signatures and communicate any concerns to the builder or client.
- Proficiently review wage income, self-employed, corporate, and partnership tax returns, profit and loss statements, asset depletion, and rental income, asset statements, title documents, and appraisals.
- Reviewed and verified documentation in accordance with AUS findings and manual guidelines.
- Demonstrated proficiency in assessing complex financial documents, including tax returns, profit and loss, and financial statements.
- Excelled in mortgage fraud detection and red flag identification.
- Consistently ranked in the top 5% for both production and quality for three consecutive quarters.
Mortgage Underwriting Manager
Chase Bank
Phoenix, AZ
01.2015 - 10.2018
- Managed a team of 15 underwriters with varying lending authorities, overseeing conventional purchase and refinance transactions.
- Responsible for hiring, monthly one on one and annual performance reviews, corrective action including terminations and merit increase recommendations.
- Cultivated strong relationships with business partners and proactively addressed escalated issues.
- Successfully transitioned the Phoenix Underwriting team from the Legacy Underwriting System to Mortgage Express
- Served as a Project Manager for underwriting initiatives, facilitating discussions with Senior Managers and Business Partners.
- Generated weekly and monthly quality and production reports, presenting recommendations for improvement to senior management.
- Conducted regular meetings with staff to discuss progress and identify areas of improvement.
- Provided leadership during times of organizational change or crisis situations.
Mortgage Underwriter
Chase Bank
Phoenix, AZ
01.2011 - 01.2015
- Possessed a $1.5 million lending authority, specializing in agency and non-agency/non-QM files purchase and refinance transactions.
- Reviewed and evaluated loan applications to assess creditworthiness, risk and eligibility for approval.
- Analyzed financial information including income, assets, liabilities and credit history of applicants.
- Proficient in calculating all forms of income to include wage, self employment, retirement and asset depletion income.
- Verified title documents and thoroughly review appraisals to verify value of property.
- Maintained strong relationships with Loan Originators and Processors to enhance a great customer experience.
- Provided mentorship and guidance to junior underwriters to enhance team performance.
- Demonstrated flexibility by working overtime when necessary to meet departmental goals.
Mortgage Fraud Investigations
Chase Bank
Phoenix, AZ
02.2007 - 01.2011
- Conducted thorough investigations on Chase Home Mortgage loan files to identify potential fraud characteristics or misrepresentation.
- Analyzed evidence to determine the nature of violations and identify potential suspects.
- Interviewed witnesses and suspects to obtain statements regarding criminal activity.
- Prepared detailed reports summarizing investigative results for senior management review.
- Reviewed existing policies and procedures to ensure compliance with relevant laws and regulations.
- Interviewed both customers and suspects, leveraging effective communication skills
- Demonstrated in-depth knowledge of bank operations, policies, and procedures to facilitate comprehensive investigations
- Communicated significant fraud findings, identified trends, potential fraud rings, and instances of internal/external misrepresentation to the appropriate channels
- Completed required Federal reporting documentation (SAR) in strict adherence to Federal reporting guidelines.
Home Equity - Loan by Phone
Chase Bank
Phoenix, AZ
05.2004 - 01.2007
- Received inbound calls for from customers looking for Home Equity products.
- Reviewed loan applications and credit documentation to ensure accuracy of information.
- Evaluated borrower's income, debt-to-income ratio, and credit score to determine loan approval or denial.
- Explained the terms of the loan agreement to customers in a clear manner.
- Resolved any discrepancies with underwriting department concerning application and credit status.
- Contacted clients regarding additional documentation needed for loan processing purposes.
- Monitored progress of each loan application through various stages of approval process.
- Consistently in top 10% monthly for production and call quality.
Insurance Agent
Farmers Insurance Agency
Gilbert, AZ
02.2001 - 05.2004
- Held the following licenses: P & C, L & H, Series 6 and Series 63.
- Assessed customer risk levels and recommended appropriate coverage options.
- Provided customers with information regarding plan features, pricing, and availability.
- Educated customers on the importance of maintaining adequate insurance coverage.
- Developed relationships with new clients through cold calling and referrals from existing customers.
- Developed and implemented comprehensive insurance plans for clients according to their individual needs.
- Conducted meetings or phone calls with potential clients to present insurance policies and answer questions.
- Received Blue Vase Award for meeting all production goals in my first year.
Fraud Loss Prevention Team Manager
Chase Bank
Tempe, AZ
01.1994 - 02.2001
- Supervised a team of 15 full-time Fraud Investigators, ensuring adherence to Banking Regulations in investigating credit card fraud claims
- Responsible for hiring, monthly one on one and annual performance reviews, corrective action including terminations and merit increase recommendations
- Monitored staff interactions with customers, merchants, and suspects, handling customer escalations effectively.
- Conducted interviews with customers, merchants, and suspects to uncover critical information
- Completed required federal reporting documentation (SAR) in accordance with federal reporting guidelines.
- Conducted regular meetings with staff to discuss progress on projects, provide updates on changes in policy or procedure, and address any issues that need to be addressed.
- Created and presented monthly MIS reporting to management, providing insights into team performance and fraud prevention metrics.
Education
Mesa Community College
05-1994
Skills
- Mortgage Underwriting
- FHA, Conforming, and Non-Conforming Loans
- Income Verification
- Appraisal Review
- Risk Assessment
- Team Leadership
- Mortgage Fraud Detection
- Relationship Building
- Financial Document Analysis
- Training and Development
- Purchase Contracts
- Sales
Certification
Direct Endorsement (DE)
Accomplishments
- 3 time Pinnacle Award winner for production and quality.
Timeline
Underwriter III
Loan Depot
06.2020 - 11.2023
Corporate Sr. Underwriter
Bank of America Merrill
02.2019 - 06.2020
Mortgage Underwriting Manager
Chase Bank
01.2015 - 10.2018
Mortgage Underwriter
Chase Bank
01.2011 - 01.2015
Mortgage Fraud Investigations
Chase Bank
02.2007 - 01.2011
Home Equity - Loan by Phone
Chase Bank
05.2004 - 01.2007
Insurance Agent
Farmers Insurance Agency
02.2001 - 05.2004
Fraud Loss Prevention Team Manager
Chase Bank
01.1994 - 02.2001
Mesa Community College