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Mortgage Collateral Specialist

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Description

The Collateral Specialist is responsible for collecting all loan collateral which includes accurate and timely recording, tracking, and safekeeping of original documents and release of collateral to warehouse bank upon purchase. Collateral specialist handles mortgage collateral document files.

Additional responsibilities:

  • Receive, sort, file and ship collateral.
  • Ensure the safekeeping of original loan collateral documents in fire- proof file cabinets.
  • Responsible for verifying all collateral documents are present, audit documents for original vs. copies.
  • Review documents for accuracy prior to the purchase of the loans.
  • Update Lakewood Systems with audit results and wire bank information.
  • Prepare collateral files for warehouse bank, by labeling folders and printing key documents from the EDMS System.
  • Endorsement of notes and or allonges according to company policy prior to shipment to warehouse banks.
  • Prepare and ships the original collateral to warehouse banks.
  • Timely processing of collateral exceptions from the warehouse bank.
  • Maintain records of all loans shipped.

Position Requirements: 

  • High school diploma or general education degree (GED)
  • Six (6) months to one (1) year related experience and/or training
  • Strong attention to detail
  • MS Office proficient
  • Able to work in a fast-paced team environment