Loan Collateral Representative III

TowneBank; Suffolk (VA); On-site; USD 45,000 - 62,000; Full time

Job summary

TowneBank in Suffolk, VA is seeking a Collateral/Lien Release Specialist who will process all paid out loans within regulatory timeframes and assist lending staff as needed.

You will navigate systems such as Insight, BPI, Advisor, and DealerTrack to verify lien satisfaction, file documents, clear title exceptions, and support real estate and auto financing activities while upholding AML/BSA requirements.

Qualifications

• High attention to customer service delivered in person, by phone, and email.
• Ability to work independently, make judgments, and handle flexible tasks.
• Experience with DMV/auto dealership financing and titling.
• Paralegal experience in real estate or deed records at circuit court.
• Proficiency with Outlook and Microsoft Office products.

Responsibilities

• Process paid out loans in line with policy and state regulations.
• Perfects/releases vehicle liens and unsecured loans.
• Handle documentation for lien releases and satisfactions.
• Assist lending personnel with collateral questions and releases.
• Review paid loan reports daily per procedures.
• Record release dates in Insight and manage collateral in systems.
• Verify collateral notas with BPI and assist with LCA forms.
• File incoming collateral documents and notes in vault.
• Monitor electronic lien systems to clear title exceptions.
• Record title exceptions in Advisor for released titles.
• Ensure lien satisfaction on paid loans and notify lenders.
• Follow AML/BSA and federal regulations; perform other duties as required.

Skills

Member service

Independent work

DMV auto financing experience

Paralegal real estate experience

Outlook

Microsoft Office

Education

Business or Finance emphasis

Tools

Simplifile

DealerTrack

Advisor

BPI

Insight

Image Centre

Outlook

Microsoft Office

Job description

This position is primarily responsible for processing all paid out loans within the regulatory timeframe and assisting the department/lending personnel as needed.

The good-faith compensation range for this role is expected to be $45,000 - $62,000, based on the role, market, internal equity, and candidate qualifications.

• Fully efficiently navigates through all systems used for Collateral functions
• Perfects/releases vehicle liens and/or unsecured loans
• Adds knowledge of all documents used to determine the release of real state liens and preparation of satisfactions
• Assists lending personnel as it pertains to Collateral questions/releases
• Reviews paid loan reports daily in accordance with department procedures
• Documents release dates in Insight and delete Collateral where appropriate
• Logs into BPI daily to verify that Collateral has received a physical note for all loans that appear as booked and assists lending personnel with LCA forms submitted to change or release collateral
• Files all incoming negotiable collateral, promissory notes, guaranty agreements, and any other documents maintained in the Vault
• Monitors the electronic lien system regularly to clear vehicle title exceptions and ensure lien perfection
• Records title exceptions in Advisor for all vehicle titles that have been released for any reason other than a full payoff
• Processes all paid out loans according to department policy, procedures, and state regulations
• Ensures the bank’s lien has been satisfied appropriately
• Completes notification emails to lenders on paid loans in accordance with the department procedures
• Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA)
• Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification

Minimum Required Skills & Competencies:

• Exquisite member service skills in-person, on the telephone, and through email
• Must be able to work independently, use logic and judgement to make appropriate decisions, and be comfortable with flexible assignments and limited supervision
• Experience working with DMV or auto dealership in financing and titling
• Experience working in the paralegal field with real estate or the deed recordation office at circuit court
• Proficiency in Outlook and Microsoft Office Products

Desired Skills & Competencies:

• Education with an emphasis in Business or Finance
• Previous work with real estate/paralegal and knowledge of retail and commercial loan documentation, preferably previous experience in preparing real estate certificates of satisfaction
• Previous experience in using the electronic recordation system for real estate releases, preferably Simplifile
• Experience in using the electronic titling system, preferably DealerTrack
• Previous experience using Advisor, BPI, Insight, and Image Centre

Physical Requirements:

• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
• Not substantially exposed to adverse environmental conditions.
• The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
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