Monserrat Herrera
ROSEMOUNT,MN
Summary
Self-motivated and detail-oriented Consumer Loan Underwriter with special talent for building strong rapport and dynamic business relationships. Over 20 years of experience underwriting loans for property such as homes, automobiles and powersports. Highly organized and detail-oriented with excellent problem-solving and critical thinking skills.
Overview
23
23
years of professional experience
Work History
Consumer Loan Underwriter 2.5
One Main Financial
03.2018 - Current
- Analyze applicants profiles and credit histories while reviewing loan approval contingencies to execute accurate and speedy loan decisions.
- Ensure compliance with federal and state lending regulations.
- Approve, decline or counter-offer loans up to $40,000.00
- Proactively identify and solve complex customer and loan problems impacting operations management and business directions..
- Support branch team members and dealers to help with timely completion of loan application.
- Communicate credit decisions in compliance with established underwriting guidelines and regulatory requirements.
- Use CLASS system to underwrite auto/consumer loans and manage pipeline.
- Train/coach new hired loan underwriters on system, credit issues, loan guidelines and exception process.
Teacher's Assistant
Teachers On Call/ School District 917
09.2015 - 03.2018
- Worked with lead teacher to monitor class schedule and take attendance.
- Oversaw students in classroom and common areas to monitor, enforce rules and support lead teacher.
- Collaborated with teachers for lesson preparation by preparing materials and setting up equipment.
- Supported student learning objectives through personalized and small group assistance.
- Collated classroom materials to help teachers prepare for daily instruction and activities.
- Provided support to help students with special needs learn and grow.
- Reviewed lesson material with students individually or in small groups.
- Used behavior modeling and specialized teaching techniques to share and reinforce social skills.
Sr. Loan Processor
Wells Fargo Mortgage
11.2014 - 09.2015
- Evaluated approvals against established bank and government lending standards.
- Handled any conditions sent from underwriting departments.
- Set up and completed loan submission packages.
- Coordinated closing process with attorneys, title companies and government clerks.
- Worked with customers in person and via telephone to answer questions, process transactions and resolve issues.
- Interviewed clients regarding loan needs and financial histories and conveyed information regarding application processes.
- Upheld complete confidentiality of all submitted information according to release guidelines.
- Maintained compliance with privacy and security requirements, as well as federal statutes covering mortgage loans.
- Reviewed loan files for completeness, identified missing documentation and generated condition lists for applicants.
- Provided quick turnaround times to maintain fast-past schedule.
- Maintained long-term relationships with customers to provide best-in-class customer service.
- Checked packages for appropriate documentation.
Loan Processor
Wells Fargo Mortgage
10.2010 - 07.2014
- Reviewed loan files for completeness, identified missing documentation and generated condition lists for applicants.
- Prepared documents for underwriting by verifying client income, credit reports and other information.
- Worked with customers in person and via telephone to answer questions, process transactions and resolve issues.
- Processed loans within various departments to achieve timely, accurate and fair proceedings.
- Assessed client's needs, reviewed collateral value, DTI, employment stability and insurance coverage.
- Complied with regulatory requirements including Bank Secrecy Act, Anti Money Laundering, OFAC, HMDA, US Patriot Act.
- Reviewed financial statements and contacted institutions and customers to clarify details
Mortgage Loan Coordinator
Countrywide Mortgage
09.2005 - 08.2008
- Explained different types of loans pertaining to client situations.
- Worked with underwriters to fix application problems and resolve issues.
- Reviewed loan files and updated to match current standards.
- Oversaw scheduling of timely loan closing to satisfy home builder and borrower needs.
- Fielded customer complaints and provided solutions.
- Obtained copies of applicants' credit histories and reviewed paperwork to determine feasibility of granting loans.
- Monitored pipelines to track and log status of loans.
- Explained very technical financial information to applicants in easy to understand language.
- Compiled closing packages for drafting and presentation accuracy.
- Established plans and payoffs for customers' loans, prioritizing control of overall costs.
- Able to manage pipeline of 70-80 FHA loans.
- Primary point of contact for Brokers and Account Executives.
Loan Underwriter
Chase/Bank One
06.2001 - 09.2005
- Obtained copies of applicants' credit histories and reviewed paperwork to determine feasibility of granting loans.
- Handled customer complaints with relative ease by conducting research, listening carefully and taking appropriate action.
- Monitored pipelines to track and log status of loans.
- Explained very technical financial information to applicants in easy to understand language.
- Responsible for taking phone applications identifying borrower's needs.
- Underwrite home equity lines and loans, unsecured personal loans, auto and RV loans.
- Provided rate, terms, fees, payment information and list of required conditions.
- Lending Authority range from 10k to 250k depending on loan product.
Education
Diploma - Dental Assistant
Apollo College
Mesa, AZ05.2010
Some College (No Degree) - Business Administration
Maricopa Community Colleges - Mesa Community College
Mesa, AZSkills
- Word Processing
- Credit analysis
- Product Knowledge
- Problem-Solving
- Debt Ratios
- Policy and Procedure Adherence
- Results driven professional
- Bilingual
- Empathetic
- Underwriting guidelines
- Loan structuring
- Risk evaluations
Languages
Spanish
Native or Bilingual
Timeline
Consumer Loan Underwriter 2.5
One Main Financial
03.2018 - Current
Teacher's Assistant
Teachers On Call/ School District 917
09.2015 - 03.2018
Sr. Loan Processor
Wells Fargo Mortgage
11.2014 - 09.2015
Loan Processor
Wells Fargo Mortgage
10.2010 - 07.2014
Mortgage Loan Coordinator
Countrywide Mortgage
09.2005 - 08.2008
Loan Underwriter
Chase/Bank One
06.2001 - 09.2005
Diploma - Dental Assistant
Apollo College
Some College (No Degree) - Business Administration
Maricopa Community Colleges - Mesa Community College
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