Collateral Specialist

Terrelonge Staffing Solutions Inc.; Boca Raton (FL); On-site; USD 52,000 - 76,000; Full time

Job summary

Terrelonge Staffing is seeking a dedicated Collateral Specialist to join our team on behalf of a prestigious mortgage client in Boca Raton, FL. The role focuses on reviewing and processing closed loan packages and collateral documents on-site, ensuring accuracy and compliance with warehouse bank guidelines.

You will image collateral, ship to warehouse banks, coordinate with correspondents, investors, and internal teams, and proactively resolve exceptions to keep deadlines and turn times on track.

Qualifications

• Proven experience in mortgage processing, specifically in collateral review.
• Strong understanding of residential mortgage documents and the loan closing process.
• Excellent communication and interpersonal skills to interact with various stakeholders.
• Ability to work under pressure, meet deadlines, and manage multiple tasks.
• Detail-oriented with a commitment to accuracy.

Responsibilities

• Pull original notes, deeds/mortgages, trust agreements, title work, and closing disclosures for daily shipment to warehouse banks.
• Process and manage daily shipment of collateral to warehouse banks.
• Instruct warehouse banks to forward collateral to investors as loans are allocated.
• Review and clear exceptions with warehouse banks to ensure timely processing.
• Monitor reports and coordinate with settlement/escrow to secure missing documents on time.
• Review critical collateral documents for accuracy before loan purchases in the Correspondent Channel.
• Prepare collateral for the Correspondent Channel ensuring compliance and accuracy.
• Assist Correspondent Clients with collateral issues and maintain high service levels.
• Stay up-to-date with policies, procedures, and regulatory requirements for documents and warehouse banks.
• Maintain proficiency with residential mortgage documents and processing.
• Collaborate with Shipping and Post-Closing teams to ensure seamless operations.
• Take on additional duties as assigned by management.

Skills

Mortgage processing

Collateral review

Residential mortgage docs

Communication

Detail orientation

Time management

Tools

Microsoft Office

Mortgage software

Job description

Terrelonge Staffing is seeking a dedicated and detail-oriented Collateral Specialist to join our team on behalf of a prestigious mortgage client. This role is essential in managing and overseeing the comprehensive review and processing of closed loan packages and collateral documents. The ideal candidate will be responsible for imaging and preparing collateral for submission to specific Warehouse Banks, adhering to their guidelines meticulously. This position encompasses a full review of collateral packages received from clients within the Correspondent Purchase Channel, necessitating robust interaction and communication with Warehouse Banks, Purchase Acquisitions Coordinators, Correspondent Clients, Investors, and the Secondary Department regarding loan file status. Please note, this is an on-site position and not eligible for remote work.

Key Responsibilities:

• Pull critical collateral documents, including but not limited to, original notes, copies of deeds/mortgages, trust agreements, power of attorney agreements, legal descriptions, title work, and closing disclosures, ensuring daily shipment to warehouse banks.
• Process and manage the daily shipment of collateral to various warehouse banks effectively.
• Issue precise instructions to warehouse banks for forwarding received collateral to investors as loans are allocated.
• Proactively review and clear any exceptions with warehouse banks to guarantee that collateral is received and processed in a timely manner for investors.
• Monitor and review daily reports on outstanding notes not received; initiate communication with settlement/escrow agents to secure documents within specified timeframes to meet warehouse turn times.
• Conduct a thorough review of critical collateral documents (e.g., original note, allonge, deed/mortgage copies, trust agreements) for accuracy before the purchase of loans in the Correspondent Channel.
• Condition and clear collateral documents for the Correspondent Channel, ensuring compliance and accuracy.
• Provide assistance to Correspondent Clients regarding any collateral issues, maintaining high levels of customer service.
• Keep up-to-date with policies, procedures, and regulatory requirements related to documents and warehouse banks.
• Maintain proficiency with residential mortgage documents and their processing.
• Collaborate closely with the Shipping and Post-Closing departments to ensure seamless operations.
• Take on additional duties and responsibilities as assigned by management.

Qualifications:

• Proven experience in mortgage processing, specifically in collateral document review and handling.
• Strong understanding of residential mortgage documents and the loan closing process.
• Excellent communication and interpersonal skills to effectively interact with a wide range of stakeholders.
• Ability to work under pressure, meet tight deadlines, and manage multiple tasks simultaneously.
• Detail-oriented with a commitment to accuracy and quality in all work processes.
• Proficiency in using mortgage-related software and Microsoft Office Suite.