PRASANTH KUMAR

• Currently Working in SitusAMC India Private Limited from 2021 at present, Working areas are Pre-underwriting Credit Underwriting, Loan Origination, 1003, Investment product, Leases and Compliance.

Verified compliance with industry standards as Quality Checker, ensuring adherence to regulations.

• 1003 Application: Verifying in to the Application date, Borrower's Information, Self Employment, Employment Information, Income Details, Assets and Liabilities, Property Address, SSN Number, Propose, Occupancy, Borrower Signature.
• 1008 Uniform Underwriting and Transmittal Summary: Verification of the Borrower and Property Information, Mortgage Information, Note Information, Underwriting Information, Seller, Contract and Contact Information.
• Appraisal Documents are 100(,100(C, 100(D, 1025, 1073, BPO, Hybrid Appraisal, Commercial Appraisal, 2055.
• Security Instrument: Security Instruments means the Guaranty Agreement, mortgages, deeds of trust and other agreements, instruments or certificates described or referred to in Exhibit E, and any and all other agreements, instruments, consents or certificates now or hereafter executed and delivered by the Borrower or any other Person other than Swap Agreements with the Lenders or any Affiliate of a Lender or participation or similar agreements between any Lender and any other lender or creditor with respect to any Indebtedness pursuant to this Agreements in connection with, or as security for the payment or performance of the Indebtedness, the Notes, this Agreement, or reimbursement obligations under the Letters of Credit, as such agreements may be amended, modified, supplemented or restated from time to time.
• Flood Certificate: Flood certification also known as a food determination and certifications is a document issued to certify whether a property is located in a food zone based on FEMA Federal Emergency Management Associations food maps.
• Verification of the ARM, PUD 1-( Family, Second Home Rider, Interest Only Rider, Prepayment.
• Verifying and Updating the details from Subordination agreement, and HELOC Agreement to client database.
• Review & Updating the AUS Automated underwriting system-Desktop underwriting-FNMA & Loan product advisor-FHLMCs to the client database.
• Verify the Manual underwriting guideline document as per the client requirement.
• Verifying & updating the approval document information in the client server.
• Verifying Title Documents with Mortgage details, Taxes for Business entity and Borrowers.
• Checking Background details, Fraud details, OFAC and the same as to check from OFAC documents, Background or from Credit report.
• Good knowledge to review the UCDP Uniform Collateral Data portals FNMA-FHLMCs.
• Verifying & updating the Mortgage statement information in the client server.
• Verifying & updating the flood insurance if property is in flood zone A & AEs.
• Reviewing the Verification of Rent Document. VORs.
• Review & verify the Business purpose certificate document.
• Good working knowledge to calculate the DTI, LTV, CLTV, HCLTV ratio manually.
• Verifying & capturing the appraisal document. 100( 1 Units, 1025 2 to ( units, 1073 condominiums, 2055 exterior inspections information in the client server.
• Verifying & updating the Title commitment & Title final information in the client server. schedule Bs.
• Verified 1007 documents and comparable rent schedules for accuracy.
• Good working Knowledge to verify and determine the pay period in paystub.
• Reviewing & capturing the W2 document information in the client server.
• Verifying the bank statement document.
• Reviewing and verifying the purchase contract for purchase transaction.
• Verifying and reviewing the seller closing disclosure for purchase transaction.
• Verify & capturing the written verification of employment WVOEs, Verbal verification of employment. VVOEs.
• Reviewing & verifying the third party verification document.
• Verifying the disclosure like Occupancy certificate, Settlement service provided list, E-sign consent agreement, Disclosure summary, Home loan toolkit purchases.
• Reviewing & updating the closing disclosure document information in the client server.
• Verifying & updating the Loan estimate document information in client server.
• Verifying & updating the post closing disclosure document in client server.
• Operated compliance engine to validate documents and create exceptions.
• Explained the process logically to the new joiners. Make them understand the process in the logically ways.
• Creating RCA Report for the entire team.
• Oversaw daily banking activities for US mortgages and backend operations, maintaining operational efficiency.
• Leading, training & monitoring performance of team members to ensure efficiency in operations.
• Credit rating of proposals on the basis of bank's internal guidelines and risk framework.
• Provide feedback for Credit Policy.
• Updating customers details based on Segment Wise.
• Verification of Loan amount, address, name for Borrowers from Note and Security instrument and entering basic details. Cross checking Guarantors signature details from Guarantee Agreement.
• Capturing Insurance details from Hazard Property Insurance. Updating the Taxes from Tax document, Title, Appraisal document as per Quarterly, Half Yearly, annually.
• Verifying Title Documents with Mortgage details, Taxes for Business entity and Borrowers.
• Checking Background details, Fraud details, OFAC and the same as to check from OFAC documents, Background or from Credit report.
• Judgement, Tax liens, Bankruptcy, Criminal Details, Collections, Felony, Dockets Details from Background Documents.
• Updating all tradelines details from Credit Report. Analyse previous credit history to determine loan eligibility.
• Credit Report Details should update as per Active and Open tradelines. And scores to check from Equifax, Transunion and Experian.
• Asset details to capture from Bank statement of the Borrowers.
• Valuation details to update from appraisal from 100(,1073, BPO, Hybrid Appraisal, Commercial Appraisal, 2055 etc.
• Provide loan documentation to management for approval.
• Evaluate creditworthiness of borrowers in order to render a credit decision.
• This includes but is not limited to the review of paystub, W2's, financial statements, tax returns, asset statements, bank account statements, credit reports etc.
• Maintained mortgage program compliance with federal agencies such as VA, HUD, and FNMA.
• Resolved quality-related issues promptly, supporting swift corrective and preventative actions.
• Maintained detailed records of quality inspections and outcomes for audit purposes.
• Prepared detailed inspection reports, documenting findings and recommending corrective actions to improve product quality.
• Reviewed and updated quality control protocols to reflect changing industry standards.

Key Responsibilities:

• Worked Areas are, Loan Estimate, Closing Disclosure.
• Loan Processing Expertise: Conforming & Non-conforming Loans, Fannie Mae & Freddie Mac Guidelines, FHA - Federal Housing Administration, VA - Veterans Affairs.

Loan Servicing Key Responsibilities:

• Areas of Work: DEFAULT SERVICING: Pre-foreclosure.
• Mortgage borrowers may still have some options during pre-foreclosure to save their homes.
• A lender is obligated to go through a court proceeding to finalize a foreclosure and eviction notice.
• Loss Mitigation: analyze financial documents and account statements, determining the property value, and assessing the debtor's credit ratings.
• Negotiated payment plans, clarified terms and conditions to mitigate further financial damage for debtors.
• Loss Mitigation Options: Forbearance, Deed In Lieu of Foreclosure, Loan Modification, Short Sale.
• Processed FNMA claim document retrieval and filing to ensure compliance with mortgage insurance claims.

Executed KYC procedures for account openings

• Researched and verified the parties involved in suspicious transactions against various databases, LexisNexis, OFAC, World-check, and Internet searches.
• Determined whether the activity seemed legitimate or not by applying various AML regulations including the USA PATRIOT ACT, the Bank Secrecy Act and OFAC.
• Performed the required KYC screenings on customers documenting the information obtained on the client's as required by global KYC procedures.
• Performed KYC screenings on customers and documented the information obtained on the client's according to global KYC procedures.
• Maintaining a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practices, criminal typologies and developing trends.
• Identified and escalate any suspicious or unusual matters to AML & Line of Business Compliance for further investigation.
• Maintaining a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
• Provided training on Anti-Money Laundering procedures and systems for new employees.
• Conducted quality control checks to ensure process outputs met high standards, enhancing overall compliance and operational integrity.