Laura J. Borrelli
986 Mc Bride Avenue
West Paterson, New Jersey 07424
973-870-7440
CURRICULUM VITAE
A THIRTY-ONE YEAR VETERAN OF THE MORTGAGE BANKING INDUSTRY WITH EIGHT YEARS OF EXPERIENCE IN MORTGAGE RELATED LITIGATION. HELD EXECUTIVE POSITIONS IN ALL PHASES OF THE LENDING PROCESS: ORIGINATING, UNDERWRITING, COMPLIANCE AND REGULATORY MATTERS, LOAN SERVICING, LOSS MITIGATION AND SECONDARY MARKET TRANSACTIONS.
2000 to present
Laura J. Borrelli Consulting, LLC laurajborrelli@cs.com
986 Mc Bride Avenue 973-890-7440
West Paterson, New Jersey 07424 973-223-3334 (cell)
Providing expert witness and support services with respect to mortgage related litigation. Also provide consulting services including but not limited to due diligence, fraud detection and prevention, compliance audits and training, operational audits and underwriting and training of underwriters and loan processors and loss mitigation services.
2002 to present
Barrister Mortgage & Investment, LLC 973-785-4800
986 Mc Bride Avenue 973-785-4834 (fax)
West Paterson, New Jersey 07424
Founder and President of a mortgage banking firm originating residential and commercial first and second mortgages collateralized by real property located in the state of New Jersey.
1988 to 2000
Residential Money Centers, Inc.
(A wholly owned subsidiary of the GMAC Mortgage Group, Inc.)
Montvale, New Jersey
Co-founder and Executive Vice President – RMC was formed as a limited partnership with Lakeview Savings Bank in 1988. The company engaged in both retail and wholesale mortgage loan origination in eleven states prior to its acquisition by the GMAC Mortgage Group in 1994. The company then expanded to thirty-eight states with a staff of more than three hundred and fifty reaching loan volumes in excess of one hundred million dollars per month. Held full responsibility for licensing, compliance, underwriting and loan processing, fraud detection, quality control, internal/external audits and human resources and secondary marketing relationships.
GMAC Mortgage Group Compliance Committee 1996 to 1999.
1986 to 1988
Champion Mortgage Corporation
Parsippany, New Jersey
Vice President – Was responsible for secondary market transactions, compliance, loan closings and funding for this multi-state retail lender. Developed loan packaging procedures and trained staff in underwriting and regulatory compliance.
1978 to 1986
American Funding Limited
Montvale, New Jersey
Senior Vice President of Operations – Began career with this multi-state wholesale lender of second mortgages as Vice President of Marketing and Business Development, then served as Vice President of Servicing with responsibility for loss mitigation, foreclosure, bankruptcy and REO disposition. From 1982 forward was responsible for operations, with emphasis on compliance and regulatory matters, closing documentation, loan packaging and secondary market relationships.
TRADE ASSOCIATION AFFLIATIONS:
National Home Equity Mortgage Association
(Merged with the Mortgage Bankers Association of America September 2006)
Washington, D.C.
President and Chairman of the Board – 1997 to 2000
The only individual elected to serve three consecutive terms in the capacity of President in the twenty-nine year history of the association.
Board of Directors – 1992 to 2004
Elected Director for Life in 2004
Executive Committee – 1995 to 2004
Legislative Committee – 1995 to 2004
Mortgage Bankers Association of New Jersey
Springfield, New Jersey
Member of the Board of Governors – 1999 to present
Legislative Committee – 1999 to present
Chairman of the Legislative Committee-2004, 2005, 2006, 2008
Chairman of the Non-Prime Committee-2006, 2007
Mortgage Council of New Jersey
Eatontown, New Jersey
Chairman of the Board – 1997 to 2000
Board of Directors – 1995 to 2000
American Financial Services Association
Washington, D.C.
Member of the Board of Directors – 1997 to 2000
New Jersey League of Community Bankers
Cranford, New Jersey 2005-2006
EXPERT TESTIMONY:
United States House of Representative – Banking Committee May 2002
Federal Reserve Board June 1997
United States Department of Housing and Urban Development June 1997
United States Department of Treasury Sept 1998
New York State Assembly- Banking Committee June 2000
New York Department of Banking Aug 1999
New Jersey Department of Banking June 2001
CURRENT LICENSES:
New Jersey Mortgage Bankers License: (Individual) # L028236
New Jersey Mortgage Bankers License: Barrister Mortgage & Investment, LLC.
(Original Issue March 2001) # L028237
EDUCATION:
Attended Miami- Dade Junior College in Miami, Florida 1971 and completed real estate courses at St. Thomas Aquinas College, Rockland County, New York.