PATRICIA J THORNTON
Farmington Hills,MI
Summary
A highly skilled and experienced Senior Underwriter/PCQC Auditor with FHA/DE and LAPP certifications, a proven track record in making loan eligibility decisions, analyzing loan risk, and preparing reports. I have managed and built teams and increased loan originations. I have a strong work ethic, a fast learner and very enthusiastic. I believe that my motivation and commitment will ensure that I quickly become a productive and valued member of any team.
Overview
14
14
years of professional experience
Work History
Remote Senior Mortgage Underwriter
Approved Mortgage Company
Indianapolis, IN
11.2021 - 08.2022
- Analyzed electronic residential loan applications for retail divisions to ensure compliance with company and industry standards.
- Assessed and analyzed various types of loans including Conforming, FHA/VA, JUMBO, and non-conforming loans to determine eligibility for approval.
- Reviewed and analyzed risk factors such as creditworthiness, collateral eligibility through appraisal reports, and financial stability of the borrower to make informed decisions on loan approvals.
- Proficient in implementing and adhering to investor/underwriting guidelines in order to mitigate potential risks to the company.
- Conducted training sessions on FHA/VA guidelines and regulations to ensure compliance. Reviewed files completed by non-delegated underwriters and provided constructive feedback to enhance their underwriting skills.
- Successfully resolved underwriting issues by providing appropriate guidance and recommendations to loan originators and processors.
- Maintained open lines of communication with superiors to ensure the quality of loan products and to address any training issues that may arise.
- Provided expert advice and guidance to loan originators by answering general and scenario-specific underwriting questions.
- Boosted loan originations by 35% through the implementation of in-house government underwriting.
- Ensured compliance with company requirements by managing Service Level Agreement (SLA) requirements for loans in the pipeline.
Remote Senior PCQC Analyst
Indecomm Global Services
St. Paul, MN
06.2018 - 10.2021
- Conduct a comprehensive review of loan files after closing to ensure they are complete and accurate according to company and industry standards.
- Evaluate credit documents, such as mortgage applications, credit history, income documents, appraisals, title documents, and compliance documents, to determine the borrower's creditworthiness and ensure compliance with company guidelines and industry standards.
- Assess various risk factors, including debt ratio, loan-to-value ratios, credit score, property valuation, and other relevant factors, to determine the risk level associated with approving a loan.
- Identify potential portfolio risks associated with the client's business practices, underwriting procedures, and exposure to fraudulent activities.
- Monitor changes to secondary market and investor guidelines and make necessary adjustments to company policies and procedures to remain in compliance.
- Evaluate the quality of the loan application based on the severity of errors identified during the review process and determine if remediation or repurchase is necessary.
Remote Senior Underwriter/Compliance Specialist
The Clayton Group, a division of Radian
Shelton, CT
02.2014 - 05.2018
- Evaluate mortgage loan documentation to ensure that borrowers and properties meet loan standards and comply with company, investor, and government guidelines.
- Perform a comprehensive evaluation of loan documents to ensure adherence to company, investor, and government policies and regulations.
- Conduct a thorough assessment of credit packages and collateral related to residential mortgage loans to guarantee the provision of top-notch loan products to investors.
- Possess extensive knowledge of conventional, FHA, Jumbo, and USDA guidelines.
- Conduct in-depth audits of mortgage loan files to evaluate compliance of originating lenders with underwriting guidelines and regulations.
- Provide expert forensic underwriting services for mortgage insurance policy claims, conducting thorough investigations and assessments of potential fraud and lender underwriting negligence.
- Analyze deficiency findings in the context of insurance policy and contractual commitment terms to assess their materiality and provide guidance on appropriate remediation actions.
- Create comprehensive reports summarizing evaluation findings and draft legal correspondence to communicate those findings to insured lenders.
Underwriting Team Lead
MiMutual
Southfield, MI
02.2013 - 12.2013
- Collaborated closely with the underwriting team to effectively achieve company objectives and maintain strict compliance with industry standards.
- Proactively resolved underwriting escalations from sales managers and loan officers by providing timely and accurate solutions to ensure customer satisfaction.
- Developed and implemented effective training programs for underwriters to improve productivity and quality, regularly evaluating their performance and providing constructive feedback for improvement.
- Implemented and maintained efficient due diligence procedures for ongoing review and third-party audits, consistently ensuring strict compliance with regulatory requirements and company policies.
- Conducted comprehensive post-closing reviews of up to 10% of monthly mortgage loans, analyzing the effectiveness of internal and external controls and procedures to identify and mitigate potential risks.
- Actively participated in monthly quality control audits, investor relations, and corporate credit committee meetings, providing valuable insights and recommendations to inform key business decisions.
Remote - Frontline Underwriter
ISGN Solutions
Melbourne, FL
07.2010 - 01.2013
- Conducted thorough analysis and evaluation of mortgage applications, assessing creditworthiness, income, assets, and other key factors to ensure accurate underwriting decisions.
- Conducted comprehensive financial analysis of borrowers to accurately assess risk and determine their repayment capacity, ensuring sound underwriting decisions.
- Leveraged expertise in loan products to analyze and restructure loan requests that have been previously declined, effectively increasing the number of approved loan applications.
- Maintained an up-to-date understanding of lending laws, regulations, and underwriting guidelines to ensure strict compliance with all applicable standards.
- Demonstrated outstanding communication and interpersonal skills to maintain strong relationships with borrowers, loan processors, loan originators, and management throughout the underwriting process, ensuring a seamless and positive experience for all parties involved.
- Monitored and managed loan pipelines to ensure timely processing and closing of loans, while also analyzing profit margins to identify opportunities for optimization and growth.
- Collaborated closely with the sales team to manage branch margins and revenues, providing guidance and recommendations to optimize profitability while ensuring compliance with lending and underwriting standards.
Compliance and Operations Specialist
Edge Professional Services
Philadelphia, PA
02.2009 - 06.2010
- Monitored and ensured Loss Mitigation compliance across multiple financial institutions.
- Collaborated in a key workgroup to analyze and assign accurate risk ratings for customers.
- Provided comprehensive support to sales and marketing teams, both for lenders and brokers.
- Implemented procedures to ensure that financial institutions evaluated all available loss mitigation options before proceeding with foreclosure, including repayment plans, forbearance agreements, loan modifications, short sales, or deeds-in-lieu of foreclosure.
- Conducted thorough investigations on banks, mortgage companies, and credit unions to identify any violations and prepared comprehensive reports for each affected loan to ensure prompt remediation of the violation.
- Escalated cases to higher authorities for legal action, including fines or other sanctions, against financial institutions that failed to comply with remediation efforts.
Education
Underwriting Techniques
National Association of Mortgage Underwriters
Certified Audit And Investigation
Financial Crimes Academy
Skills
FHA DE Certification; VA LAPP; Quality Control Analyst; Loss Mitigation Specialist; Able to maintain high productivity and quality; Effective communicator with internal and external clients; critical thinker; team leader/builder, Microsoft Office; Ability to demonstrate a high degree of business professional behaviors including punctuality, attendance, responsiveness, and dependability, strong interpersonal abilities, quick decision making, and the ability to collaborate with colleagues
- Mortgage counseling
- Remote Problem Resolution
- Mortgage servicing understanding
- Mortgage Refinancing
- Non-Prime Markets
- FHLMC Guidelines
- Jumbo and Super Jumbo Loans
- Debt-to-Income Ratios
- Residual Incomes
- Asset Statements
- Non-QM Markets
- Loan to Value Ratio Calculations
- Application Analysis
- FNMA Guidelines
- Residential Loans
- Financial transactions expertise
- Proficient in 10-key
- Financial analysis aptitude
- Practiced at FHA loan process
- Deep knowledge of bankruptcy processes
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Quote
The things that make me different are the things that make me me.
Piglet's song
Timeline
Remote Senior Mortgage Underwriter
Approved Mortgage Company
11.2021 - 08.2022
Remote Senior PCQC Analyst
Indecomm Global Services
06.2018 - 10.2021
Remote Senior Underwriter/Compliance Specialist
The Clayton Group, a division of Radian
02.2014 - 05.2018
Underwriting Team Lead
MiMutual
02.2013 - 12.2013
Remote - Frontline Underwriter
ISGN Solutions
07.2010 - 01.2013
Compliance and Operations Specialist
Edge Professional Services
02.2009 - 06.2010
Underwriting Techniques
National Association of Mortgage Underwriters
Certified Audit And Investigation
Financial Crimes Academy
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