Collateral Specialist/Post Closer- in Office Job at National Mortgage Staffing, Boca Raton, FL

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  • National Mortgage Staffing
  • Boca Raton, FL

Job Description

Job Title: Collateral Specialist

Salary Range: $35K to $45K

Note: This position is not remote.

Summary: The Collateral Specialist plays a critical role in handling closed loan packages and collateral document reviews. This includes imaging and preparing collateral for submission to Warehouse Banks while adhering to their specific guidelines. The role requires a thorough review of collateral packages from clients within the Correspondent Purchase Channel. Interaction with Warehouse Banks, Purchase Acquisitions Coordinators, Correspondent Clients, Investors, and the Secondary Department is essential. Collateral experience is mandatory for consideration for this position.

Duties and Responsibilities:

  • Retrieve and review essential collateral documents such as original notes, deeds/mortgages, trust agreements, power of attorney agreements, legal descriptions, title work, and closing disclosures for daily shipping to warehouse banks.
  • Manage the daily shipping of collateral to various warehouse banks.
  • Direct warehouse banks to forward received collateral to investors as loans are allocated.
  • Resolve exceptions with warehouse banks to ensure timely receipt and processing of collateral by investors.
  • Monitor daily reports on outstanding notes and contact settlement/escrow agents to obtain necessary documents within specified timeframes to meet warehouse turn times.
  • Review critical collateral documents for accuracy before loan purchase in the Correspondent Channel.
  • Condition and clear collateral documents for the Correspondent Channel.
  • Provide assistance to Correspondent Clients with collateral-related issues.
  • Maintain up-to-date knowledge of policies and procedures related to documents and warehouse banks.
  • Stay familiar with residential mortgage documents.
  • Collaborate directly with Shipping and Post-Closing teams.
  • Perform additional duties as assigned.

Education/Experience:

  • High School Diploma or Equivalent
  • Encompass experience preferred
  • Minimum of 1 years of Collateral experience is required

Job Tags

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