Susan Shermer
Chesterland
Summary
Experienced underwriter specializing in mortgage loan underwriting. Accurately assesses borrower risk and ensures compliance with regulatory standards. Proven track record of making sound financial decisions through in-depth analysis. Demonstrated expertise in financial analysis, contributing to successful loan approvals and risk mitigation for lenders.
Overview
25
25
years of professional experience
Work History
Mortgage Underwriter
Cardinal Credit Union
11.2019 - 05.2025
- Led comprehensive underwriting processes ensuring alignment with regulatory standards and risk management policies.
- Mentored loan officers and processors, fostering professional growth and improving team efficiency.
- Spearheaded cross-functional initiatives to enhance underwriting protocols and procedures.
- Implemented process improvements that streamlined approval workflows, reducing turnaround times significantly. Established paperless processes.
- Collaborated with Credit Committee, CLO to refine underwriting guidelines in response to market trends and policy updates.
- Identified possible fraud risks through meticulous evaluation of application materials, protecting both lenders and homebuyers from potential losses.
- Worked with processing team members to communicate errors and obtain missing information for current applications.
- Approved or denied loans based on established criteria and underwriting guidelines.
- Maintained mortgage program compliance with federal agencies such as HUD, and FNMA including HMDA compliance and yearly reporting.
Contract Mortgage Underwriter
Radian, Clayton Services LLC (Currently Covius)
10.2018 - 11.2019
- Targeted loan-level file reviews using comprehensive underwriting processes ensuring alignment with regulatory standards and risk management policies.
- Evaluated complex loan applications, optimizing decision-making accuracy and minimizing financial risk exposure.
- Conducted thorough reviews (Due Diligence) of financial documents, ensuring compliance with industry regulations and organizational standards.
- Identified possible fraud risks through meticulous evaluation of application materials.
- Analyzed and verified applicant income, assets and credit history to support compliance with Lender's underwriting guidelines.
- Approved or denied loans based on established criteria and Lender's underwriting guidelines including DSCR loans, Bank Statement loans, Jumbo loans.
Senior Underwriter
Freedom Mortgage Corporation (purchased NYCB Div)
10.2017 - 06.2018
- Underwrote Conventional, Jumbo and FHA Streamline loans: Examined overall loan documentation to ensure accuracy and completeness.
- Reviewed loan-to-value ratio, credit reports, applications, etc. on the most complex applications, to ensure each loan met company standards for sales into the secondary market. Analyzed applicants' financial information to determine the borrower's ability to Repay under CFPB guidelines.
- Provided an underwriting decision to either approve or deny loans within agency, investor and bank guidelines.
- Re-negotiated loans and provided others with assistance in the re-negotiation process based on lending guidelines.
- Communicated with Wholesale Mortgage Clients to convey loan decisions, discuss scenarios, and resolve issues. Cleared all prior to close conditions by collecting required documentation to close conditions and complete the loan file.
- Analyzed and assisted underwriters in analyzing complex and diversified credit and property documentation.
- Met established customer service, productivity and quality standards.
Senior Mortgage Underwriter and Customer Service Team Lead
Ohio Savings Bank, a division of NYCB
06.2012 - 09.2017
- Applied verbal and written skills in providing timely responses via telephone call center and email answering questions and concerns of wholesale clients regarding scenarios, credit decisions, exception requests, underwriting conditions, escalated underwriting issues, and the review of loan declinations.
- Developed and managed relationships with clients and mortgage insurance partners to include: interpretation of underwriting guidelines, troubleshooting, and approving clients for loan programs, identifying business trends and informing management of issues needing further review.
- Oriented, trained, assisted and mentored more junior level Mortgage Underwriters. Acted as subject matter expert for the team resolving complex underwriting issues.
- Analyzed and assisted underwriters in analyzing complex and diversified credit and property documentation.
- Met established customer service, productivity and quality standards.
Credit Risk Consultant
Ohio Savings Bank, a division of NYCB
06.2008 - 06.2012
- Worked under minimal supervision and applied the highest level of collateral and credit risk knowledge in providing wholesale clients with explanations and information around credit and collateral issues.
- Utilized superior communication skills and acted as primary liaison to providing support to Account Executives and clients in the mortgage loan origination process. Provided optimum customer service according to established service levels, to maintain profitable business relationships.
- Acted as subject matter expert for the team resolving complex underwriting issues. Analyzed and assisted underwriters in analyzing complex and diversified credit and property documentation. Reviewed and approved loan and policy exceptions within scope of authority.
- Met established customer service, productivity and quality standards.
Underwriter I/Underwriter II
Ohio Savings Bank
06.2006 - 10.2008
- Examined overall loan documentation to ensure accuracy and completeness. Reviewed loan-to-value ratio, credit reports, applications, etc. on the most complex applications, to ensure each loan meets company standards for sales into the secondary market. Analyzed applicants' financial information to determine the borrower's ability to repay under CFPB guidelines. Provided an underwriting decision to either approve or deny loans within agency, investor and bank guidelines. Re-negotiated loans and provides others with assistance in the re-negotiation process based on lending guidelines. Communicated with Wholesale Mortgage Clients to convey loan decisions, discuss scenarios, and resolve issues. Cleared all prior to close conditions by collecting required documentation to close conditions and complete the loan file. Met established customer service, productivity and quality standards.
Mortgage Loan Processor
Ohio Savings Bank
06.2002 - 06.2006
- Directly involved in the mortgage loan origination process.
- Worked closely with loan officers and customers to collect and verify the customers financial data and compile into a loan package to be submitted to a mortgage underwriter.
Mortgage Funding Specialist
Ohio Savings Bank
11.2000 - 10.2002
- Managed the daily processing of funding requests to ensure timely execution of transactions.
- Performed data verification cross-checks on funding requests to bank's warehouse loan management systems' database for program eligibility.
- Performed Closing Agent due diligence to ensure eligibility. Processed approved funding requests for entry to Fed Wire queue.
- Verified approved funding requests were executed as scheduled.
- Performed verification and reconciliation of loan funding settlement for accounting accuracy and data integrity.
Education
Bachelor of Science Degree - Business Management
David N Myers University
Cleveland, OhioAssociate of Applied Science - Business Management
Lakeland Community College
Kirtland, OhioSkills
- Application analysis
- Documentation analysis
- Knowledge of underwriting guidelines
- Knowledge of mortgage lending regulations
- Fannie Mae guidelines expertise
- Financial credit analysis
- Valuation analysis skills
- Regulatory adherence
Timeline
Mortgage Underwriter
Cardinal Credit Union
11.2019 - 05.2025
Contract Mortgage Underwriter
Radian, Clayton Services LLC (Currently Covius)
10.2018 - 11.2019
Senior Underwriter
Freedom Mortgage Corporation (purchased NYCB Div)
10.2017 - 06.2018
Senior Mortgage Underwriter and Customer Service Team Lead
Ohio Savings Bank, a division of NYCB
06.2012 - 09.2017
Credit Risk Consultant
Ohio Savings Bank, a division of NYCB
06.2008 - 06.2012
Underwriter I/Underwriter II
Ohio Savings Bank
06.2006 - 10.2008
Mortgage Loan Processor
Ohio Savings Bank
06.2002 - 06.2006
Mortgage Funding Specialist
Ohio Savings Bank
11.2000 - 10.2002
Associate of Applied Science - Business Management
Lakeland Community College
Bachelor of Science Degree - Business Management
David N Myers University
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