WILLIAM F. DAVIS, JR.
Jamestown,NC
Summary
Dynamic Mortgage Underwriter at Flagstar Bank with a proven track record in loss mitigation and risk analysis. Expert in documentation management and effective communication, successfully retaining homes for borrowers while minimizing company losses. Adept at problem-solving and maintaining compliance with regulatory standards, ensuring timely resolutions in high-pressure environments.
Overview
15
15
years of professional experience
Work History
Mortgage Underwriter
FLAGSTAR BANK
Troy, MI
11.2020 - Current
- Identify potential risks and mitigating factors that could impact a borrower's ability to repay the loan.
- Review and analyze loss mitigation applications including income and asset statements, credit bureau reports, and other relevant documentation.
- Maintain knowledge of regulatory requirements, investor/insurer guidelines and other relevant timeframes required to determine borrower eligibility for a loss mitigation workout.
- Responsible for generating timely correspondence to the borrower of their loss mitigation review.
- Monitors loans in process to determine any deviation from standard processing time and to take appropriate actions including notifying the manager for alternatives to ensure timely resolution.
- Understand key performance and risk indicators in the Loss Mitigation Process, and how individual role contributes to meeting or exceeding these goals.
Funding Operations Specialist
VOLVO FINANCIAL SERVICES
Greensboro, NC
09.2018 - 11.2020
- Coordinating and directing the documentation and funding request to funding specialists.
- Manage and proactively support VFS dealer and customer portfolios by providing a superior level of service as well as a proactive and educational approach to industry issues and concerns.
- Respond to customer inquiries in a timely manner, investigate and resolve billing and contract issues, as well as coordinate processes with respect to buyout and termination calculation requests.
- Manages and audits documentation preparation and execution, including communications with dealers, customers, District Finance Managers (DFM) and Legal Counsel.
- Ensures accuracy and sufficiency of all contract package submissions.
- Develops close relationships with other departments such as risk management, credit, sales, insurance and accounting.
Long-Term Substitute/Teacher's Assistant
ALLEN MIDDLE SCHOOL
Greensboro, NC
10.2017 - 06.2018
- Analytical in developing useful daily lesson plans and instructional research.
- Ability in handling risk students at all levels.
- Strong ability to establish attainable educational goals for students that promote growth and self-motivation.
- Excellent organizational skills along with a propensity of structuring classroom management.
Default Support Specialist II
BRANCH BANKING AND TRUST (BB&T)
Greensboro, NC
01.2013 - 01.2017
- Provided administrative support with respect to mortgage accounts which are owned by BB&T and/or third-party servicing including Freddie Mac and Fannie Mae.
- Processing timely invoices received from third parties or internally which include remittance and maintaining proper records for all default invoices including but not limited to: Bankruptcy, Claims and Foreclosure.
- Analyzed and devised a more streamlined way of submitting all urgent wire transmittals in excess of $1 million monthly which was needed for all aspects of default support including: Hardest Hit Funds, North Carolina Housing Finance Agency, Freddie Mac or Fannie Mae, Payoffs, Make-Wholes and Repurchases.
- Required to balance the appropriate general ledgers monthly and reconcile the accounts.
- Conducted extensive appraisal reviews for all appraisals ordered such as Write-Down, Charge-Off, Foreclosure and REO.
- Providing clear and concise information to third parties within a timely matter to ensure the perfect client experience.
- Effectively managing quality metrics to ensure all documents are in accordance with BB&T and government regulations.
Loss Mitigation Specialist
UNITED GUARANTY INSURANCE COMPANY
Greensboro, NC
01.2010 - 01.2013
- Mitigating company losses by contacting borrowers who are delinquent on their loans insured by United Guaranty and attempting to work out a plan to cure the delinquency. All decisions resulted in borrowers retaining their homes as well as minimal or no losses to the company.
- Obtaining loan packages and reviewing financial statements with borrowers so the current financial institution would be more apt to restructure the loan.
- Providing financial and/or delinquency counseling to delinquent mortgagors. Thereby calculating debt to income ratio figures and educating the borrower.
- Reviewing alternatives along with the servicer and determining if one of the options is a realistic choice to prevent foreclosure. Alternatives include forbearance agreements, repayment plans, loan modifications, capitalization of arrearage and cash advances.
- Selecting the plan that best fits the situation and work with the borrower and the service/investor then coordinate the completion of the plan with the borrower and the servicer. Thus, avoiding foreclosure.
Education
Bachelor of Science - Accounting
North Carolina Agricultural & Technical State University
Greensboro, NCSkills
- Microsoft Word
- Excel
- Power Point
- Microsoft Outlook
- AS/400
- MAS 90
- File Make Pro
- Documentation management
- Loss mitigation
- Effective communication
- Problem solving
- Attention to detail
- Written communication
- Computer literacy
- Serve customer needs
- Proficient in 10-key
Activities
- Member of C.W. Lawrence Masonic Lodge No. 837, P.H.A.
- Member of Omega Psi Phi Fraternity, Inc.
- Volunteer for Triad Sickle Cell Anemia Foundation
Languages
English
Professional
References
References available upon request.
Timeline
Mortgage Underwriter
FLAGSTAR BANK
11.2020 - Current
Funding Operations Specialist
VOLVO FINANCIAL SERVICES
09.2018 - 11.2020
Long-Term Substitute/Teacher's Assistant
ALLEN MIDDLE SCHOOL
10.2017 - 06.2018
Default Support Specialist II
BRANCH BANKING AND TRUST (BB&T)
01.2013 - 01.2017
Loss Mitigation Specialist
UNITED GUARANTY INSURANCE COMPANY
01.2010 - 01.2013
Bachelor of Science - Accounting
North Carolina Agricultural & Technical State University