Monica Cabrales
San Antonio,TX
Summary
- 13 years of consumer loan mortgage default underwriting/lending experience (11/2009-current), with 12 years’ experience in underwriting escalated appeal loans in loss mitigation/home preservation for default loans.
- Outstanding performance record consistently exceeding department guidelines for both quality and productivity.
- Possessed FHA & VA Level C Delegation of Authority. Previously possessed USDA Level A Delegation of Authority.
- Monthly Performance Quality Star Award Recipient.
- 17 years customer service and communications experience.
- History of demonstrating leadership through various projects and training courses for new and lower-level team members as well as assisting trainers with several underwriting courses.
- Team player who works well with team members of all skill levels and committed to the success of the team.
- Strong project organization and prioritization skills.
- Ability to work efficiently in a fast paced & team environment where priorities change frequently to meet business needs.
- Advanced working with MS Office Products.
- Very strong oral and written communication skills with all partners/levels in order to achieve the proper outcome for our customers & Wells Fargo.
- Demonstrates ability to meet deadlines, work independently, and overcome objectives.
- Experience with underwriting the following investor/specialty loans: FHA/VA covid impacted, FHA/VA/USDA baseline and appeals, FHA/VA Simultaneous Modification & Assumption, VA Re-entry, FHA high risk.
- Additionally, also developed working knowledge in all areas of credit policy for Wells Owned, Fannie Mae, Freddie Mac, and Bank & Private investor loans.
Overview
21
21
years of professional experience
Work History
Senior Underwriter
Wells Fargo Home Mortgage
02.2022 - Current
- Currently taking on Lead Underwriter duties for the Lookback Corrective Action project, consisting of multiple workstreams and roles (Peer Reviewer, Impact Final Reviewer, Final Workbook Reviewer, and 2nd/3rd Level Reviewer), which all entails the creation of bundles/workbooks, analyzing and reviewing data, research of Customer Impact Tickets (CITs), and creating manual review procedures to determine impact, while utilizing prior credit policies and procedures.
- Providing feedback and corrections/findings as necessary while following processes and procedures.
- Responsible for UAT/Validation testing of new/retired products and system tools to ensure the decision outcome results accurately and to ensure all tools are in compliance with investor procedures, for various investors/products.
- Effectively manage and process a pipeline of bundles/singular issues within strict timelines.
- Analyze, review, and use critical thinking skills to make decisions on products/records within the company and industry guidelines.
- Evaluate complex processes or tasks that may require research into the cause and effect of challenges to projects or procedures.
- Collaborate and consult with peers, management, and third-party vendors to resolve problems and achieve objectives/results.
- Knowledge in credit policy default decisioning guidelines for multiple investors.
- Accountable for risk identification, escalation and mitigation.
- Demonstrates high regard for policy and practice.
- Strong partnering skills; builds relationships across the business.
Senior Underwriter
Wells Fargo Home Mortgage
11.2009 - 02.2022
- Part of the pilot team that executed the rollout for the ALM (Advanced Loan Modification) product for FHA investor.
- Assisted with underwriter refresher courses for the department (site level).
- Selected to act as a subject matter expert (SME) on several occasions for our new and lower-level delegated team members.
- Team lead for lower level delegated/non-delegated underwriters, which included providing support to help increase productivity and quality of decisions.
- Identified gaps and/or concerns where needed; responsibilities included, providing feedback on decisions, ensuring all manual processes/workarounds, investor guidelines, new processes are being followed.
- Partnered with other business areas for internal compliance/audits and special projects.
- Was responsible for ensuring overall accuracy and compliance is met on all loans, and investor guidelines were being followed.
- Took initiative for a trainer role for the Digital Risk Underwriters group, by providing new-hire training, side by sides & peer reviews for FHA/VA portfolio.
- Assisted with and was responsible for pulling daily reports for loan assignments.
- Was responsible for and assisted with virtual training of new-hires, peer reviews/side by side training & mentoring for new & lower level delegated & non-delegated team members, which included exception sign offs, and providing feedback, work direction and training to ensure accuracy and consistency was met on all loans.
- Experience with & assisted our specialty group with disaster loans.
- Assisted our HPS partners with customer calls due to disaster-related impacted customers.
- Assisted with underwriting of USDA baseline and appeal files in order to meet metric requirements.
- Knowledge and experience in understanding and complying with the CFPB Appeals to ensure proper procedures are completed in a timely manner.
- Strong working knowledge of MSP, HPA, VALERI, SLOAD/WOE, ECAR, CPI/MSP, IRC/IDC, CLARA, CREDCO, SAM, GSA, ERLMF, ICMP, HP2LR, BlackKnight, POC tool for USDA, Web Direct, Documentum (DMS), ALM (Application Lifecycle Management), ATS Portal/ATS UAT Testing.
- Contributed participation of pilot team in the past, to rollout new Sharepoint site and ERLMF.
- Assisted with Home Preservation Workshop events.
- Previously worked on upper management sponsored projects and reports to drive results which are essential to department needs.
- Responsible for evaluating and analyzing credit reports, debt to loan ratio, income/financial statements, tax returns (for self-employment, corporate & partnership income), and other sources of income & financial documents, while ensuring fair lending and government/investor guidelines were met on a daily basis.
Collections Agent III
JP Morgan Chase
12.2002 - 04.2006
- Interviewed customers to obtain financial information, payment history and other relevant details.
- Researched customer accounts for any discrepancies or outstanding payments.
- Negotiated payment plans with customers to ensure timely repayment of debt.
- Responsible for training and coach-back of lower-level collection agents across the department.
- Assisted management with creation of training materials and projects.
- Conducted side by side training for lower-level collection agents.
- Responsible for assisting with auditing for trainees.
Skills
- Microsoft products
- Data organization
- Communication relationships
- Mortgage loan underwriting
- Team organization
- Time management
- Leadership initiatives
- Analytical thinking
Career Objective
- To attain a position within a department that recognizes my hard work and dedication, that allows opportunities for growth and advancement.
Timeline
Senior Underwriter
Wells Fargo Home Mortgage
02.2022 - Current
Senior Underwriter
Wells Fargo Home Mortgage
11.2009 - 02.2022
Collections Agent III
JP Morgan Chase
12.2002 - 04.2006