Laurele Fellows
Richfield,MN
Summary
Senior Mortgage Loan Underwriter with significant background in risk mitigation techniques and fostering teamwork. Proficient in policy interpretation, appraisal review, committed to maintaining high-quality standards and customer satisfaction. Excels in risk mitigation, collaborative problem-solving and achieving successful loan outcomes through innovative credit solutions. Demonstrated organizational skills and a commitment to quality control, significantly enhancing client satisfaction and operational efficiency while ensuring compliance with standards and regulations. Underwriting experience includes Agency, Non-Agency (Jumbo), FHA, DAP, Correspondent Lending and VA loans.
Overview
27
27
years of professional experience
1
1
Certification
Work History
Senior Mortgage Loan Underwriter
Wells Fargo Home Mortgage
04.2014 - 08.2023
- Evaluated Non-Agency(Jumbo) portfolio loan applications, determining creditworthiness, assessing risk and establishing loan conditions. Approved, denied or negotiated acceptable terms for loan requests based on established criteria and underwriting guidelines. Level 4 underwriting authority for loans up to $2MM.
- Performed comprehensive analysis of applicant''s salaried or self employment income, assets, employment history, credit reports, and property values to determine overall credit risk. Identified fraudulent activities during the underwriting process.
- Reduced risk exposure by diligently evaluating customers creditworthiness and financial stability ensuring loans meet customers' ability to repay and qualified mortgage requirements.
- Evaluated property appraisals for accuracy, ensuring appropriate collateral value. Approved or declined appraisals based on findings.
- Ensured compliance with federal and state regulations through strict adherence to lending policies. Maintained up-to-date knowledge of industry trends and changes in regulations, applying this expertise to daily underwriting decisions.
- Facilitated clear communication between all parties involved in loan transactions, supporting positive outcomes for clients and the company alike.
- Mentored junior underwriters, sharing expertise in assessing complex financial situations and loan applications.
- Contributed to business growth by consistently meeting or exceeding individual productivity targets.
- Maintained high volume pipeline of variety of loans ranging from purchase, refinance, relocation, interest only products. Managed inquiries, escalations and achieved objectives.
Consumer Loan Underwriter (Government) 4
Wells Fargo Home Mortgage
12.2008 - 04.2014
- Dedicated FHA and VA underwriter for Wells Fargo Joint Venture Team with Level 4 underwriting authority. Collaborated with loan officers from 8 different lending groups to provide timely feedback on loan applications. Maintained a low default rate through careful evaluation of potential borrowers and adherence to strict underwriting guidelines.
- Reviewed financial statements, credit histories, income documentation to make accurate determinations about loan decision. Maintained pipeline of variety of loans with products including, purchase, rate/term, cash-out and/or streamline refinance, relocation and new construction.
- Enhanced customer satisfaction by delivering clear explanations of loan terms and conditions, addressing any concerns or questions promptly.
- Maintained a low default rate through careful evaluation of potential borrowers and adherence to strict underwriting guidelines.
- Developed strong relationships with internal partners like sales representatives and branch managers to improve overall business performance.
- Identified and quickly resolved complex customer and loan problems with potential to negatively impacting operations management and business direction.
Consumer Loan Underwriter
Wells Fargo Home Mortgage
12.2005 - 11.2008
- Joined Underwriting team and continued to increase knowledge and lending authority. Obtaining Conforming Level 4 authority, FHA CHUMS ID and VA SAR ID / LAPP approval.
- Balanced workload efficiently while meeting tight deadlines for loan processing, maintaining high standards of accuracy throughout all stages of underwriting.
- Reviewed financial statements, credit histories, income reports and other information to make accurate determinations about loan decisions.
- Stayed current on industry best practices by attending conferences, workshops, and webinars focused on consumer lending trends and regulations, ensuring accurate decision-making in line with current best practices.
- Mentored junior underwriters by sharing expertise in credit analysis and risk assessment, fostering a team-oriented approach to achieving company goals.
Sr Mortgage Specialist
Wells Fargo Home Mortgage
05.2001 - 11.2005
- Obtained conventional and FHA Level 2 underwriting authority. Maintained pipeline that included underwriting, processing, closing and funding of loan files.
- Managed a diverse portfolio of loans, ensuring timely processing and adherence to compliance regulations.
- Collaborated with underwriters to expedite loan decisions, successfully meeting clients'' needs and expectations.
- Identified potential risks in mortgage applications through careful analysis and due diligence procedures, safeguarding the organization from financial loss.
- Built lasting relationships with clients by providing exceptional customer service, fostering trust and loyalty.
Junior Title Examiner
Gibraltar Title Agency
04.1996 - 05.2001
- Improved title examination accuracy by conducting thorough document research and analysis.
- Streamlined the title search process for faster turnaround times with meticulous attention to detail.
- Enhanced client satisfaction by providing accurate and timely title reports and documentation.
- Collaborated effectively with team members, ensuring seamless communication in achieving project goals.
Education
High School Diploma -
Hennepin Technical College
Eden Prairie, MNSkills
- Quality Control - Data Accuracy
- Attention to Detail
- Risk assessment - Mitigation techniques
- Credit, Income and Financial statement analysis
- Organizational Skills - Time management ability
- Analytical and Critical Thinking - Problem Solving
- Teamwork - Collaboration
- Reliability, Adaptability and Flexibility
- Task Prioritization
- Customer service-focused
- Automated Underwriting System (AUS), CORE, Microsoft Word, Excel, Outlook, CoreLogic
Certification
DE / FHA CHUMS ID
VA SAR ID and LAPP
Timeline
Senior Mortgage Loan Underwriter
Wells Fargo Home Mortgage
04.2014 - 08.2023
Consumer Loan Underwriter (Government) 4
Wells Fargo Home Mortgage
12.2008 - 04.2014
Consumer Loan Underwriter
Wells Fargo Home Mortgage
12.2005 - 11.2008
Sr Mortgage Specialist
Wells Fargo Home Mortgage
05.2001 - 11.2005
Junior Title Examiner
Gibraltar Title Agency
04.1996 - 05.2001
High School Diploma -
Hennepin Technical College