Kay Sala Email & Phone Number

Spring, Tx, Us

Cypress Tx

My position was changed in October 2016 to Compliance Officer/Auditor– I am currently doing all Compliance and Quality Assurance Auditing for the company. Reviewing files starting in July 2016 in preparation of the HUD Audit, which is currently in progress, as well as the Texas Banking Audit which is also in progress. Reviewing all files for accuracy and compliance regulations. I was a Compliance Auditor for another company during the 80s, which is what started my interest in the Mortgage Industry.I was Involved in origination and set up and processing of Conventional, FHA & VA purchase and refi loan files, received from the LO’s. Monitoring all documents for accuracy as they are received from 3rd party vendors, i.e. title companies, appraisal vendors & credit reporting agencies. Review credit documents for completion and accuracy, including bank statements, payroll information and 1003 (loan application) for authenticity and accuracy, to insure loans meet all eligibility requirements. Collateral assessment of appraisal and surveys for any deficiencies. Submission of all files to various investors and follow up as required on all underwriting conditions, to be gathered and re-submitted in a timely manner for loan approval and receipt of CTC. Clearing all closing conditions and set up loan for closing department. Once loan closed and funded complete any follow-up funding requirements needed for the purchase of the loan by the Investor.

Galleria & The Woodlands

Private Banking – Portfolio Loan Processor – Received loans from several Private Banking Officers. Gathered any and all missing information needed to submit to in-house underwriter for loan approval. Responsible for contacting the clients and explaining the need for any additional documentation that was being required by the bank for approval. When the change in Mortgage guidelines came into effect in October 2014, the Operations Manager required that all Portfolio loans be underwritten according to FNMA and FHLMC guidelines. Processing was extremely difficult and the underwriting process could take up to 2 weeks for approval, because the underwriters were Fannie & Freddie underwriters and were not familiar with Bank Portfolio underwriting. The department was downsized as the work load declined.

1111 Fannin, Houston, Tx

Conventional Underwriter - After obtaining training and Conventional underwriting credentials which took about 2 weeks, I started underwriting immediately. Files were received at random and the quota for each day was 7 re-sub files and 3 new files, consisting of purchases, refinances and HARP loans, to be underwritten according to Fannie & Freddie guidelines as well as JP Morgan Chase guidelines and banking compliance, insuring the validity of individual pieces of information and to make a decision considering all information in the file. Underwriters are asked to analyze all aspects of the file for accuracy and consistency in order to make a qualified decision, working closely with a Loan Processor when questions may arise or Red Flags appear in the processing of the file. Responsible for updating and conditioning a file to bring it up to industry standards for the loan to be cleared for closing. Underwriting Center was closed and moved to another location.

Ft. Walton Beach, Fl

Interviewed prospective borrowers; completed the 1003 and gathered all necessary documents for loan approval. Processed and Submitted loans for underwriting to JPMorgan Chase; Bank of America; Wells Fargo & Countrywide Mtg. I trained Loan Originators, and assisted the Construction Lending Dept. obtain loan approval for 1-time construction loan closings. This area was hit very hard in 2006 & 2007 when the Banking and Mortgage Industry went under. The department was closed the end of 2007 and I moved back to Texas. Prior to Beach Community Bank I was a Loan Processor/Underwriter for the largest Mortgage Banker in the area, and was able to handle a pipeline of 50 loans per month w/one part-time assistant.

Education record

Accounting And Related Services

2 year Associates Degree