Collateral Specialist

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.

• 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 time frames 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.

• 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.