Rachel Spruill
New Fairfield,CT
Summary
Accurate and dedicated Loan Processor evaluates financial documentation and promotes positive client interactions. Works exceptionally well in fast-paced environments driven by tight deadlines. Employs critical eye toward document details and customer information to avoid errors and promote efficiency. Organized and dependable candidate successful at managing multiple priorities with a positive attitude. Willingness to take on added responsibilities to meet team goals.
Overview
19
19
years of professional experience
Work History
Senior Loan Processor
The Mortgage Firm
01.2021 - 08.2022
- Streamlined loan processing by implementing efficient workflow systems and task prioritization.
- Managed a high-volume pipeline of loans, consistently meeting deadlines and maintaining accuracy in documentation.
- Consistently met or exceeded monthly performance metrics, contributing to overall team success in achieving departmental goals.
- Managed approximately 30 incoming calls, emails and faxes per day from customers.
- Assisted in training junior loan processors, resulting in increased productivity across the team.
- Contributed to company growth by successfully managing an expanding portfolio of diverse loans.
Loan Specialist
First Republic Bank
04.2020 - 01.2021
- Review and set-up loan files for completeness; identifying and resolving any missing documentation or potential problems.
- Prepare pre-qualification and/or commitment letters for Relationship Manager review
- Communicate with customers, providing excellent customer service and ensuring the customer relationship is maintained at the highest possible level
- Thoroughly analyze each residential loan request, such that the loan approval worksheet, appraisal(s), application, preliminary report (or title commitment) and all credit, income, and financial verifications to meet Bank loan program- and secondary market criteria
- Analyze income tax returns and financial statements.
- Ensure that all pertinent loan information, including loan terms, are accurately input into the Banks Loan Origination System.
Senior Loan Processor (Broker Platform)
Quintessential Mortgage Group
06.2017 - 03.2020
- Developed a comprehensive understanding of various lender guidelines which helped expedite loan approvals.
- Organized detailed records of completed loans for easy retrieval during audits or reviews.
- Mentored new hires within the loan processing team, fostering a culture of knowledge sharing and continuous improvement.
- 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.
- Evaluated approvals against established bank and government lending standards.
Senior Loan Processor
HomeBridge Mortgage/Prospect Mortgage
07.2015 - 05.2017
- Successfully processed some of the most challenging loan applications (e.g., first-time borrowers, self-employed borrowers applicants and borrowers with problematic credit histories)
- Regarded as one of the company's most productive loan processors, handling an average of 30+ files monthly
- Ensured all files were complete prior to underwriting hand-off and coordinated effectively with attorneys & title companies to ensure smooth closings
- Outperformed company average in achieving loan-processing turn-around times of 15 days or less (compared to typical 20-30 days)
- Provided expedient service cited as key to consistently high customer satisfaction and 20% increase in referral sources.
- Reduced processing time for loan applications by implementing an organized filing system.
Correspondent Purchase Reviewer/ SR Retail Processor
FirstKey Mortgage, LLC
09.2013 - 06.2015
- Responsible for reviewing closed loan files against client's guidelines prior to purchase by a correspondent buyer
- Review whether the mortgage loan originated in compliance with applicable underwriting standards and meets investor, agency and regulatory guidelines
- Solid track record of underwriting jumbo and conforming conventional loan files
- Compare the closed loan file documentation to specified client/lender policies and procedures, in addition to Federal, State, and/or municipal laws and regulations
- Re-calculate LTV/CLTV, income, liabilities, and debt-to-income ratios (DTI) and compare against client/lender guidelines.
- Analyze asset statements and confirm the funds to close and reserves meet client/lender guidelines confirm credit scores (FICO) and credit histories meet client/lender guidelines
Mortgage Loan Sales Associate
Wells Fargo Private Mortgage Banking
08.2003 - 08.2013
- Collected all Coop and Condo buildings underlying financial documents for bank approval and to secure investment.
- Achieved monthly sales targets consistently by implementing effective sales strategies and maintaining a high level of product knowledge.
- Developed strong relationships with clients, resulting in a high rate of repeat business and referrals.
- Mentored new Mortgage Sales Associates, sharing best practices and helping them become successful members of the team.
- Managed a consistent pipeline of applications while maintaining strict adherence to deadlines and target closing dates.
- Provided professional advice on loan applications by interviewing applicants, reviewing applications and verifying information gathered.
Education
High School Diploma -
Herbert Lehman HS
Bronx, NY06.1991
Skills
- Mortgage Loan Processing
- Loan Underwriting
- Application Process Management
- Loan Application Preparation
- Loan Submissions
- Processing Procedures
- Financial Document Review
License
Real Estate Agent FL - License Number SL3585604
Loan Processing Expertise
Conforming & Nonconforming Loans, ARM's, Jumbo Loans, Fannie Mae & Freddie Mac Guidelines, FHA loans. Detail oriented and highly methodical loan processor with 20 years of solid experience managing mortgage pipelines of 40 plus loans and other loan and processing, credit report and desktop underwriting verification. Demonstrated ability to maintain good relationships with clients, real estate agents and seniors to ensure timely processing and submission of applications. Provide support to loan officer and underwriter teams by ensuring the timely, judicious and accurate processing of mortgages. Review and verify borrowers' income, credit reports, employment histories, property appraisals and title insurance information to prepare a loan application for underwriting submission. Ensure compliance with company policies, underwriting guidelines and lending-program requirement.
Timeline
Senior Loan Processor
The Mortgage Firm
01.2021 - 08.2022
Loan Specialist
First Republic Bank
04.2020 - 01.2021
Senior Loan Processor (Broker Platform)
Quintessential Mortgage Group
06.2017 - 03.2020
Senior Loan Processor
HomeBridge Mortgage/Prospect Mortgage
07.2015 - 05.2017
Correspondent Purchase Reviewer/ SR Retail Processor
FirstKey Mortgage, LLC
09.2013 - 06.2015
Mortgage Loan Sales Associate
Wells Fargo Private Mortgage Banking
08.2003 - 08.2013
High School Diploma -
Herbert Lehman HS
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