Phillip Stapleton
Supply ,NC
Summary
Knowledgeable Underwriter with Management skills and over 25 years in the mortgage industry. Proficient with AUS systems such as Desktop Underwriter and Loan Prospector. Strong expertise and extensive knowledge of Freddie, Fannie Mae, and Non-QM underwriting guidelines. Motivated and ambitious with excellent verbal and written communication skills. Strong skills in training, mentoring and the development of staff. Excellent at multi-tasking with a history of exceeding monthly quotas and SLA in production and quality.
Overview
19
19
years of professional experience
Work History
Senior Desk Underwriter
MCM
01.2023 - 10.2023
- Evaluated debt ratio, loan-to-value ratios, credit scores property valuations and various other factors when making underwriting decisions. (Schedule E, Wage earner, K-1s) and VOI's
- Verified integrity of applicants' information to minimize fraud.
- Made careful determinations based on skilled analyses of submitted documentation covering credit histories, employment records and current financial status.
- Worked with processing team members to communicate errors and obtain missing information for current applications.
- Determined credit risks by reviewing files in advance and comparing data against internal checklists and guidelines.
- Analyzed credit, income, compliance, title documents and appraisals during underwriting process.
- Determined and documented loan conditions and communicated requirements and decisions.
- Conducted re-reviews upon receipt of requested documentation (conditions)
- Ran verified information through AUS system to assist in decision (DU, LP)
- Conducted re-reviews upon receipt of requested documentation (cleared conditions)
Non-QM Mortgage Underwriter
Angel Oak Mortgage
02.2021 - 09.2022
- Analyzed information uploaded into Encompass and Sales Force by Account Executives and Loan Officers for Non-QM products
- Reviewed credit reports/supplements, homeowner insurance, appraisals, title work,
- Calculated and reviewed income documentation ( DSCR, Paystubs, Tax Returns Schedule E, Schedule C, K-1's) and WVOE's.
- Reviewed Condo/PUD projects and completed eligibility worksheets to ensure they met salable or non-warrantable guidelines.
- Successfully underwrote multiple property and loan types (DSCR, Bank Statement loans, ITIN loans, Foreign National loans, residential business purpose loans, Manufactured, Condo, Site Condo, 2-4 family, multi-family) - (Conventional, Purchase, R/T and Cash Out)
- Effectively reviewed loans for completeness, accuracy, and adherence to guidelines and provided decisions within SLA, while effectively maintaining a 40 - 60 loan pipeline.
- Evaluated debt ratio, loan-to-value ratios, credit risk, property valuation, and various other factors.
- Determined loan conditions contingent on information received and communicated requirements and/or decisions to interested parties.
- Assisted Processors with routine title issues (lien releases/judgments, subordination requests, appraisal disputes,).
- Reviewed/Approved POA's and TRUST.
- Monitored audit findings, and prepared reports and best practice guides
- Completed Encompass required training classes
- Worked with processing team members to communicate errors and obtain missing information for current applications.
- Determined credit risks by reviewing files in advance and comparing data against internal checklists and guidelines.
Conventional Mortgage Underwriter
GoPrime
11.2019 - 01.2021
- Maintained mortgage program compliance with federal agencies such as VA, HUD, and FNMA.
- Made careful determinations based on skilled analyses of submitted documentation covering credit histories, employment records, and current financial status.
- Worked with processing team members to communicate errors and obtain missing information for current applications.
- Verified integrity of applicants' information to minimize fraud.
- Approved or denied loans based on established criteria and underwriting guidelines.
- Researched and updated industry knowledge on changing legislation and regulations.
- Monitored pipelines to track and log status of loans.
Mortgage Underwriter
FourStar Financial
02.2005 - 05.2013
- Maintained mortgage program compliance with federal agencies such as VA, HUD, and FNMA.
- Analyzed and determined acceptance or denial of Non-QM loans, Jumbo loans, and investment property loans
- Worked with processing team members to communicate errors and obtain missing information for current applications.
- Verified integrity of applicants' information to minimize fraud.
- Determined credit risks by reviewing files in advance and comparing data against internal checklists and guidelines.
- Analyzed and verified applicant income, assets and credit history to support compliance with underwriting guidelines.
- Monitored pipelines to track and log status of loans.
- Made careful determinations based on skilled analyses of submitted documentation covering credit histories, employment records, and current financial status.
Education
Associate of Science - Accounting and Finance
Aquinas College
Nashville, TNBBA -
Eastern Michigan University
Ypsilanti, MISkills
- Encompass
- Residential Loans
- LTV Calculations
- Jumbo and Super Jumbo Loans
- LP (Loan Prospector) DU (Desktop underwriter)
- Analyze Tax returns
- LoanBeam
- Review Credit Reports
- Excellent communication skills
- Detail-oriented
- Tax Returns review
- Appraisal Valuation review
- Application Analysis
- Debt-to-Income Ratios
- Asset Statements review
- Loan to Value Ratio Calculations
Timeline
Senior Desk Underwriter
MCM
01.2023 - 10.2023
Non-QM Mortgage Underwriter
Angel Oak Mortgage
02.2021 - 09.2022
Conventional Mortgage Underwriter
GoPrime
11.2019 - 01.2021
Mortgage Underwriter
FourStar Financial
02.2005 - 05.2013
Associate of Science - Accounting and Finance
Aquinas College
BBA -
Eastern Michigan University
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