Hi, I’m
Shannon Suddreth
Charlotte,NC
Summary
I am a detail-oriented Underwriting leader skilled at analyzing lending activities according to current regulations, standards and market conditions. I have active FHA and VA designations. I have years of financial industry expertise working in retail, wholesale and correspondent lines of business. . I have increased sales and production wherever I go by improving customer service. I have won Tops in production many months in a row and Underwriting Manager of the Year. I live to put people in homes. I have excellent problem solving skills that helps find solutions to meet clients' needs while maintaining guidelines.
Overview
18
years of professional experience
1
Certificate
Work History
Cardinal Financial Services, LLC
Underwriting Manager
08.2019 - 03.2023
Job overview
- Trained underwriting professionals responsible for providing quality loan decisions by acting as resource and providing guidance on interpretation of Cardinal Financials’ Credit Policy
- Served as advocate for unique transactions, research and documentation specialist, mediator for complex credit policy decisions, and ultimately, key member of credit decisioning process.
- Maintained compliance with ECOA and regulation B by completing second level reviews of mortgage loans to ensure compliance with regulations.
- Approved exceptions as allowed within guardrails (approx. 600-1200 month).
- Reviewed harder loans such as JUMBO, NON-QM, and self employed
- Coached underwriters to obtain FHA, VA, USDA and Jumbo loan designations.
- Mentored loan officers on scenarios and offered solutions that fit the clients' needs.
- Skilled at working independently and collaboratively in a team environment.
- Self-motivated, with a strong sense of personal responsibility.
- Developed and maintained courteous and effective working relationships.
- Worked on all platforms- wholesale, retail, correspondent.
Mr.Cooper/Nationstar Mortgage
Underwriting Manager
08.2016 - 08.2019
Job overview
- Managed 23 Underwriters to meet, and exceed production, customer service and quality service level agreements.
- Mentored loan officers on loan scenarios and offered resolutions to meet clients' needs.
- Evaluated debt ratio, loan-to-value ratios, credit scores property valuations and various other factors when making underwriting decisions.
- Increased Production by 28% improving customer service with loan officers and brokers.
- Monitored underwriting teams' performance and provided mentoring to achieve personal and department production goals.
- Scrutinized underwriting performance to identify weaknesses and provide recommendations for improvement.
- Worked on Wholesale platform and increased our production with superior communications with brokers.
Accenture
Underwriting Manager
08.2015 - 08.2016
Job overview
- Managed 12-15 Underwriters on contract platform
- Shared knowledge of client's procedures and processes to exceed quality and production goals.
- Evaluated debt ratio, loan-to-value ratios, credit scores property valuations and various other factors when making underwriting decisions.
- Increased output by sharing my knowledge of the system with my team and peers.
- Demonstrated respect, friendliness and willingness to help wherever needed.
- Performed duties in accordance with applicable standards, policies and regulatory guidelines to promote safe working environment.
- Used critical thinking to break down problems, evaluate solutions and make decisions.
- Utilized knowledge of insurance principles, policies and procedures to make decisions on risk assessment.
- Negotiated terms and conditions of coverage with clients to acquire maximum profitability.
- Correspondent (contract with BofA).
Quicken
Underwriter
08.2014 - 08.2015
Job overview
- Underwrote Conventional, FHA and VA loans to meet investors guidelines
- Consistently exceeded goals and was promoted from just collateral to full underwriting for Wholesale more complex loans.
- Determined and documented loan conditions and communicated requirements and decisions.
- Analyzed credit, income, compliance, title documents and appraisals during underwriting process.
- Evaluated debt ratio, loan-to-value ratios, credit scores property valuations and various other factors when making underwriting decisions.
- Followed through with borrowers, loan processors, loan originators and managed all phases of underwriting process.
- Documented underwriting decisions and provided evidence of compliance with applicable regulations.
- Made approval and denial recommendations by determining accurate risk levels.
- Worked on all platforms, began in correspondent, worked to retail and then wholesale.
Bank of America
Unit Leader
02.2009 - 04.2014
Job overview
- Ran a unit of Government underwriters, processors and closers to meet and exceed goals
- Helped the Bank handle the influx when the MIP changed saving the company money and customers.
- Reverse Engineered "True Blue" process to help the company meet min 30 day turn times to meet our client's expectations.
- Quickly learned new skills and applied them to daily tasks, improving efficiency and productivity.
- Performed duties in accordance with applicable standards, policies and regulatory guidelines to promote safe working environment.
- Used critical thinking to break down problems, evaluate solutions and make decisions.
- Identified issues, analyzed information and provided solutions to problems.
- Skilled at working independently and collaboratively in a team environment.
- Worked effectively in fast-paced environments.
- Demonstrated respect, friendliness and willingness to help wherever needed.
- Retail and correspondent
JPMorgan Chase & Co
Site Underwriting Manager
05.2005 - 02.2009
Job overview
- Turned the site around from failing to an A on internal audit reviews
- Built the staff from 14 to 43 in 3 years, Audited underwriters work to ensure compliance
- Rebuilt trust with sales partners after previous manager let them down
- Scheduled visits with sales partners and brokers to grow the business.
- Improved production by 30% by improving customer service and taking on new branches.
- Improved Morale of the staff by being open and available to them for professional and personal development.
- Complied with established internal controls and policies.
- Checked payroll, vendor payments, commissions and other accounting disbursements for accuracy and compliance.
- Prepared internal and regulatory financial reports, balance sheets and income statements.
- Developed strategic plans for day-to-day financial operations.
- Established internal audit procedures to validate and improve accuracy of financial reporting.
- Wholesale platform
Education
Saint Andrews College
Bachelor of Arts from English
Skills
- Performance Improvement
- Client Relationship Management
- Credit Approval and Denial
- In-Depth Research
- Risk Analysis
- Fraud Understanding
- Risk Mitigation
- Loan Decision Assessments
- Credit Evaluation
- Remote Video Conferencing
- Financial Reporting and Analysis
- Word Processing
- Appraisal Verification
- Human Resources Knowledge
- Operational Efficiency
- Coordinate Training
- Workflow Coordination
- Stakeholder and Investor Relations
- Risk mitigation
- Policy application
- Relationship building and management
- FHA loan process background
- Financial analysis and reporting
- Staff Management
- Bank security expert
- Performance monitoring
Certification
FHA, VA, USDA
Timeline
Underwriting Manager
Cardinal Financial Services, LLC
08.2019 - 03.2023
Underwriting Manager
Mr.Cooper/Nationstar Mortgage
08.2016 - 08.2019
Underwriting Manager
Accenture
08.2015 - 08.2016
Underwriter
Quicken
08.2014 - 08.2015
Unit Leader
Bank of America
02.2009 - 04.2014
Site Underwriting Manager
JPMorgan Chase & Co
05.2005 - 02.2009
Saint Andrews College
Bachelor of Arts from English
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