Omar Armendariz
Frisco,Texas
Summary
Driven mortgage underwriter with 19 years of Mortgage experience in the Mortgage Industry, seeking to expand my skill set by providing assistance for nonconforming loans and loan documentation. I am looking for a company to help create opportunities for business and bottom-line growth. The business I seek to join must value continual improvement.
Overview
19
19
years of professional experience
15
15
MLO
2
2
Languages
Work History
Mortgage Default Underwriter
BSI Financial Services
06.2023 - Current
- Review and analyze borrower documentation to determine income and repayment ability, assess borrower hardship, analyze housing expenses, identify any potential fraud and determine proper loan resolution
- Independently perform financial analysis on borrowers
- Analyze delinquency, perform escrow analysis, analyze modification scenarios and proposals and recommend appropriate loan workout
- Ensure that loan requests meet program and product specifications or communicate to all parties involved regarding necessary information
- Implement fraud detection techniques to ensure compliance is met by all standards
- Review, examine and underwrite loans to ensure soundness, business value and compliance within company guidelines
- Gained extensive experience in underwriting FHA, VA and Fannie Mae loans.
- Spearheaded initiatives aimed at streamlining workflows between departments, leading to increased collaboration and efficiency across the organization.
- Scrutinized underwriting performance to identify weaknesses and provide recommendations for improvement.
- Evaluated loan applications for affordability and conformance with underwriting guidelines.
- Mentored junior underwriters, providing guidance on best practices and improving overall team performance.
- Worked effectively in fast-paced environments.
- Used critical thinking to break down problems, evaluate solutions and make decisions.
- Exercised leadership capabilities by successfully motivating and inspiring others.
- Assisted in developing training materials used to educate new hires on essential job functions, contributing to their successful onboarding and integration into the team.
- Analyzed credit, income, compliance, title documents, and appraisals during underwriting process.
SPOC
BSI Financial Services
05.2020 - 06.2023
- Actively Managed Pipeline (Inbound and Outbound Calls)
- Formulate course of action that mitigates potential loss which may include repayment plans, Modification, Short Sales or Deed in Lieu of Foreclosures for VA, USDA, FHA, Fannie Mae Freddie Mac Loans
- Relay Mod Terms to borrower(s).
- Top Producer in Loss Mitigation workouts 794 total in 2023.
- Helped establish the Fannie Mae and Freddy Mac Portfolio.
Home Advisor/Loan Officer
Mr Cooper
07.2019 - 05.2020
- Actively Managed Pipeline (Inbound and Outbound Calls)
- Addressed client needs through add-on services such as credit repair and debt negotiations
- File processing: Followed standard processing procedures to receive a Clear-To-Close and issue a commitment letter when necessary.
- Kept borrowers informed as to the status of their loan.
- Send out all necessary disclosures and letters to borrower.
- Reviewed and analyze income and credit documents before submitting to the underwriter.
- Reviewed and executed confidential documents, contracts and disclosures.
SPOC
Mr Cooper
02.2019 - 07.2019
- Actively Managed Pipeline (Inbound and Outbound Calls)
- Formulate course of action that mitigates potential loss which may include repayment plans, Modification, Short Sales or Deed in Lieu of Foreclosures for VA, USDA, FHA, Fannie Mae Loans.
- Worked effectively in fast-paced environments.
- Proven ability to learn quickly and adapt to new situations.
- Proved successful working within tight deadlines and a fast-paced environment.
- Learned and adapted quickly to new technology and software applications.
- Applied effective time management techniques to meet tight deadlines.
- Self-motivated, with a strong sense of personal responsibility.
- Worked well in a team setting, providing support and guidance.
SPOC II
Pacific Union Financial, LLC
01.2018 - 02.2019
- Actively Managed Pipeline (Inbound and Outbound Calls)
- Formulate course of action that mitigates potential loss which may include repayment plans, Modification, Short Sales or Deed in Lieu of Foreclosures for VA, USDA, FHA, Fannie Mae Loans
- Relay Mod Terms to borrower(s).
- Worked well in a team setting, providing support and guidance.
- Managed time efficiently in order to complete all tasks within deadlines.
Loss Mitigation Representative (Bilingual)
Clear Spring Loan Services
04.2015 - 01.2018
- Actively Managed Pipeline (70-80 Outbound Calls per day)
- Formulate course of action that mitigates potential loss which may include settlements, Short Sales, Deed in Lieu of Foreclosures, and Note Modifications
- Underwrite Mortgage Loan(s) -Reviewed Short Sale, Income, and credit documents
- Work with investor's portfolios to develop and implement tactical plan necessary to minimize further loss
- Reviewed 1003Online Mortgage Applications
- Determine if list price is appropriate based on Market Value (reviewed Appraisals)
- Negotiate with borrowers, real estate agents, attorneys and other third parties to minimize further loss.
- Improved customer relations for better communication and understanding of loss mitigation options.
- Educated borrowers on available options for default resolution, empowering them to make informed decisions about their financial future.
Mortgage Loan Officer (Bilingual)
Nations Reliable Lending
11.2013 - 04.2015
- Actively Managed Pipeline (70-80 Outbound Calls per day)
- Marketing and Outside Office Visits to establish referral relationships with Real Estate Brokers, real estate investors and attorneys
- Addressed client needs through add-on services such as credit repair and debt negotiations
- File processing: Followed standard processing procedures to receive a Clear-To-Close and issue a commitment letter when necessary
- Kept borrowers informed as to the status of their loan
- Send out all necessary disclosures and letters to borrower
- Reviewed and analyze income and credit documents before submitting to the underwriter.
- Analyzed potential risks and evaluated loan products to identify suitable options for customers.
- Negotiated loan terms and conditions with customers to secure best deal.
- Assisted customers with completing loan applications and other paperwork.
- Maintained high level of customer satisfaction by providing prompt and accurate loan status updates.
- Mentored junior loan officers to improve team performance and meet organizational goals.
- Increased loan approval rates by efficiently managing pipeline and maintaining strong relationships with borrowers, realtors, and underwriters.
- Checked loan documents for accuracy prior to closing.
- Monitored pipelines to track and log status of loans.
- Evaluated loan requests and documents to verify accuracy and completeness.
Negotiator Short Sales/Recovery/Default /Asset Management
Chase Home Finance
08.2010 - 10.2013
- Actively Managed Pipeline (70-80 Outbound Calls per day)
- Formulate course of action that mitigates potential loss which may include settlements, Short Sales, and Note Sales to outside investors
- Reviewed Short Sale, Income, and credit documents
- Determine if list price is appropriate based on Market Value (reviewed Appraisals)
- Negotiate with borrowers, real estate agents, attorneys and other third parties to minimize further losses
- Recovered 40-45% of balance for Short Sales on 2nd liens
- Top Producer (March 2011 Exceeded Goal by 130%, January 2013 Exceeded Goal by 195%)
- Developed comprehensive negotiation strategies for complex deals, leading to increased revenue and client satisfaction.
Loss Mitigation Mortgage Specialist/Short Sales
Capital One Bank
07.2009 - 08.2010
- Perform outbound collection calls to delinquent customers to discuss account with customer to alleviate deficiency
- (45-55 Calls per day)
- Formulate course of action that mitigates potential loss which may include loan modification, presales, repayment plans or full reinstatement
- Reviewed Short Sale, Income, and credit documents
- Negotiate with borrowers, real estate agents, attorneys and other third parties to minimize potential losses pre-Foreclosure accounts
- Recovered 85-95% of Balance on first liens
- Top Negotiator (September 2009 Exceeded Goal by 140%, February 2010 Exceeded Goal by 180%)
Head Teller
Citibank
12.2007 - 06.2009
- Guided and advised subordinates in the more complex phases of their work
- Produced highest sale referrals for several quarters and surpassed established branch goals
- Maintained highest level of Customer Service by doing follow up calls to customers on offering additional bank products
- Monitored to ensure compliance with Federal and State laws and regulations; including but not limited to the Bank Secrecy Act and Anti-Money Laundering, in addition to, Bank operation policies and procedures.
- Reduced errors in transactions with vigilant attention to detail and adherence to banking regulations.
- Mentored junior tellers, fostering professional development and growth within the team.
- Managed high-volume cash transactions daily, maintaining accuracy and efficiency under pressure.
- Maintained up-to-date knowledge of banking policies, procedures, and regulatory requirements for effective guidance of team members and clients alike.
- Oversaw currency shipments and deposits while adhering to strict safety guidelines.
- Trained new hires on customer service policies and procedures.
- Handled various accounting transactions.
Processing Manager/ Senior Loan Officer
Global Mortgage
06.2006 - 11.2007
- Marketing and Outside Office Visits to establish referral relationships with Real Estate Brokers, real estate investors and attorneys
- Addressed client needs through add-on services such as credit repair and debt negotiations
- File processing: Followed standard processing procedures to receive a Clear-To-Close and issue a commitment letter when necessary
- Kept borrowers informed as to the status of their loan
- Send out all necessary disclosures and letters to borrower
- Reviewed and analyze income and credit documents before submitting to the underwriter
- Generated over $9.0 million in revenue in new loans.
- Developed strong relationships with borrowers, resulting in high levels of customer satisfaction and repeat business.
- Managed high-volume workloads effectively to meet strict deadlines, prioritizing tasks based on urgency and importance.
Bilingual Mortgage Specialist
Aegis Home Lending
12.2005 - 06.2006
- Provided customers with great customer service, developed great Sales skills in Inbound and Outbound calling when helping customers to refinance their homes
- Build relationships with clients to facilitate loan processing and encourage repeat business and referrals
- Reviewed and analyze income and credit documents before submitting to the underwriter
- Produces sale referrals, which attained or surpassed established branch goals (Cold Calling).
Bilingual Mortgage Specialist
Ameriquest Mortgage Company
06.2005 - 12.2005
- Provided customers with great customer service, developed great Sales skills in Inbound and Outbound calling when helping customers to refinance their homes
- Build relationships with clients to facilitate loan processing and encourage repeat business and referrals
- Reviewed and analyze income and credit documents before submitting to the underwriter.
- Improved client satisfaction by efficiently processing mortgage applications and providing timely updates.
- Analyzed loan applications and credit reports to determine loan eligibility and risk level.
- Assisted customers with completing loan applications and other paperwork.
- Monitored pipelines to track and log status of loans.
Education
High School Diploma -
Coronado High School
El Paso, TX08.1993
Skills
- Portfolio Management
- Documentation Review
- Asset Statements
- Application Review
- Client Relationship Building
- Risk Assessment
- Credit analysis
- Loan Evaluation
- Underwriting guidelines
- Loss Mitigation
- Business Development
- Fluent in Spanish
- Microsoft Word
- Excellent Communication
- Teamwork and Collaboration
Certification
- Licensed MLO in the following states – Texas (1142610) Oklahoma (MLO10386),Alabama (LO-61119), Arkansas (113214); Florida (LO50685); Nebraska; New Hampshire (1142160); Ohio (MLO055485.000); South Dakota(MLO.07320); Tennessee (150721);Vermont (VT1142160); Virginia (MLO-36382VA);Illinois 031.0049596, Louisiana; Washington (MLO-1142160)
Languages
Spanish
Native or Bilingual
Timeline
Mortgage Default Underwriter
BSI Financial Services
06.2023 - Current
SPOC
BSI Financial Services
05.2020 - 06.2023
Home Advisor/Loan Officer
Mr Cooper
07.2019 - 05.2020
SPOC
Mr Cooper
02.2019 - 07.2019
SPOC II
Pacific Union Financial, LLC
01.2018 - 02.2019
Loss Mitigation Representative (Bilingual)
Clear Spring Loan Services
04.2015 - 01.2018
Mortgage Loan Officer (Bilingual)
Nations Reliable Lending
11.2013 - 04.2015
Negotiator Short Sales/Recovery/Default /Asset Management
Chase Home Finance
08.2010 - 10.2013
Loss Mitigation Mortgage Specialist/Short Sales
Capital One Bank
07.2009 - 08.2010
Head Teller
Citibank
12.2007 - 06.2009
Processing Manager/ Senior Loan Officer
Global Mortgage
06.2006 - 11.2007
Bilingual Mortgage Specialist
Aegis Home Lending
12.2005 - 06.2006
Bilingual Mortgage Specialist
Ameriquest Mortgage Company
06.2005 - 12.2005
High School Diploma -
Coronado High School
- Licensed MLO in the following states – Texas (1142610) Oklahoma (MLO10386),Alabama (LO-61119), Arkansas (113214); Florida (LO50685); Nebraska; New Hampshire (1142160); Ohio (MLO055485.000); South Dakota(MLO.07320); Tennessee (150721);Vermont (VT1142160); Virginia (MLO-36382VA);Illinois 031.0049596, Louisiana; Washington (MLO-1142160)
Work Preference
Work Type
Full TimeWork Location
HybridRemoteImportant To Me
Career advancementWork-life balance401k matchWork from home optionStock Options / Equity / Profit SharingWork Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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