FORAM THAKKAR
Elgin,IL
Summary
Astute and methodical Senior Mortgage Underwriter/Credit Analyst with significant background working with VA, FHA and Conventional loans. Proficient in reviewing extensive applications and supporting documentation. Maintains consistent pipelines and quick turnaround times with skilled handling of each customer's needs.
Overview
15
15
years of professional experience
1
1
Certification
Work History
Underwriter VA SAR/LAPP
Keller Mortgage
08.2020 - 01.2023
- Making independent credit decisions regarding acceptability of loan files and approval/denial of loan applications for conventional as well as VA loans.
- Working with loan originators and production staff to acquire required documents in order to verify income and employment details of applicant, review applicant's credit profile, analyze financial statements, and consider other information in order to act on loan and credit requests
- Reviewing appraisal reports and collateral issues related to real estate in order to determine whether it may properly support approval of loan application loan
- Utilizing automated underwriting systems such as Desktop Underwriter and Loan Prospector in order to assist in execution of duties and responsibilities of role
- Providing training and direction to Junior Underwriter in order to assure clear understanding of compliance and lending guidelines.
- Improved risk assessment accuracy by conducting thorough reviews of loan applications and financial documents.
- Determined and documented loan conditions and communicated requirements and decisions.
- Analyzed credit, income, compliance, title documents, and appraisals during underwriting process.
- Maintained pipeline of 30 loans and and underwrote average of 2.5 new loans per day consistently.
Financial Center Loan Officer
Bank of America, Woodfield mall financial center
06.2019 - 03.2020
- Identified , developed and maintained quality network of business relationships.
- Assisted clients in selecting appropriate loan products for their needs such as conventional, VA, FHA, IHDA, HELOC etc. resulting in higher customer satisfaction.
- Analyzed financial and credit data to advise clients of product/pricing policies and guidelines and gathered any required additional information
- Successfully managed financial center and pipeline of business
- Worked on prioritizing multiple tasks and complied with federal and state compliance policies and adhered to Home mortgage disclosure act requirements.
- Conducted financial review of customer lines of credit by assessing company financials and initiating credit application reviews.
- Made decisions and recommendations about extending lines of credit.
Residential Mortgage Specialist
Wintrust Mortgage Elgin State Bank
11.2016 - 06.2019
- Developed and maintained successful relationships with business referral sources
- Communicated with and advised clients and partners during various stages of the loan process
- Provided underwriting with complete and accurate loan applications
- Ensured exceptional client experience by overseeing loan process from origination through closing
- Utilized training materials, reference tools, and other resources to provide accurate up-to-date loan program / policy information to clients and partners.
Mortgage Loan Officer
Market Place Mortgage
01.2015 - 04.2016
- Prepare loan files for each customer who has applied for loan and collect all necessary documents
- Study financial documents submitted by customers and evaluate financial standing and creditworthiness of customer
- Increased loan approval rates by efficiently managing pipeline and maintaining strong relationships with borrowers, realtors, and underwriters.
- Coordinate with mortgage officers, underwriters, lawyers, etc., as required to process loans
Student Finance Consultant II
DeVry University
11.2007 - 07.2012
- Assisted applicants and students in making informed tuition investment decision by providing accurate, helpful Student Finance advice
- Performed initial contact, financial advising, and direct outreach advising sessions
- Increased student satisfaction and retention by providing proactive tuition investment and student finance support to assigned portfolio of students
- Managed escalated concerns and resolving issues in timely manner
- Provided superior customer service to students by accepting ownership of all Student
- Finance issues and questions
- Trained and coached entry-level team members and student workers
- Acted in a supervisory role in absence of Director
- Identified opportunities and solutions that improved current processes and actively participated in the roll-out of new processes
- Maintained a thorough understanding of all DeVry Student Finance programs, policies and procedures
- Maintained a thorough understanding of federal and state financial aid guidelines and regulations
- Reduced student loan default rates by conducting thorough counseling sessions on loan repayment options.
Education
Bachelors - Information Technology
Manipal Academy of Higher Education
Banglore, IndiaDiploma - Electronic and Communication Engineering
Govt. Polytechnic
Gujarat, IndiaSkills
- Credit Analysis
- Time Management
- High level of accuracy
- Strong problem solving capabilities
- Attention to detail
- Sales Development
- Payment Collection
- Negotiation Tactics
- Customer Service
- Risk Mitigation
- Analyzing data
Certification
VA automatic underwriter certification.
Languages
English
Full Professional
Gujarati
Full Professional
Hindi
Full Professional
Timeline
Underwriter VA SAR/LAPP
Keller Mortgage
08.2020 - 01.2023
Financial Center Loan Officer
Bank of America, Woodfield mall financial center
06.2019 - 03.2020
Residential Mortgage Specialist
Wintrust Mortgage Elgin State Bank
11.2016 - 06.2019
Mortgage Loan Officer
Market Place Mortgage
01.2015 - 04.2016
Student Finance Consultant II
DeVry University
11.2007 - 07.2012
Bachelors - Information Technology
Manipal Academy of Higher Education
Diploma - Electronic and Communication Engineering
Govt. Polytechnic
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