MOUNTAIN WEST FINANCIAL Collateral Desk Specialist Salary in the United States

Summary:

The Collateral Specialist is responsible for reviewing and verifying the accuracy and integrity of the Collateral. The Collateral Specialist must have knowledge of the various Warehouse Bank guidelines with full comprehension of how inaccurate collaterals can affect investor pools for sale and requirements for their acceptance of the collateral package. In addition, the Collateral Specialist is responsible for obtaining corrected documents needed prior to shipping to the Warehouse Bank. They will also prepare daily manifest reports, ship daily collaterals to Warehouse Banks, clear all suspense reports for Warehouse Lines, prepare and ship Allonges, Assignments, Affixation Affidavits and Modifications as needed. They will manage the purging and filing of all purchased files and validate all incoming conditions and loan documents. As time allows they will assist when needed with the issuing of the Post-Closing disclosures. They will adhere to all State and Federal regulations and be familiar with escrow/title practices, as well as regulatory compliance laws that apply to mortgage transactions. This position will interact daily with operations/management, broker and branch staff, Escrow and Title companies and must possess excellent oral and written communication skills, a strong ability to detail and a strong sense of customer service. Collateral Specialist must be able to multi-task and work well under pressure.

________________________________________
Essential Duties and Responsibilities
To perform this job successfully, an individual must be able to perform each essential duty.

• Review, verify information and prepare collateral packages for delivery to Warehouse Banks.

• Prepare daily manifest reports.

• Ship daily Collaterals to Warehouse Banks.

• Clear all suspense reports from each Warehouse Bank.

• Prepare and ship all Allonges, Assignments and Affixation Affidavits as needed.

• Receive, log and split all incoming loan documents for distribution to the Scan Desk.

• Maintain Collateral Queues.

• Maintain the daily validation of conditions and files in the validation inbox.

• Stay within required turn times for validating condition inbox.

• Monitor Ephesoft batch ages and ensure that all batches are within timelines.

• File all incoming loan document packages daily

• Once a week purge all loan document package that are ready for shredding

• Timely delivery of loan documents/conditions to Funder.

• Maintain company service levels to provide appropriate turn times.

• Attendance: This is a fulltime position that requires regular, reliable, and punctual attendance.

• Other duties as assigned.

Qualifications
The requirements listed below are representative of the knowledge, skill, and/or ability required for this position:

• Minimum 3 years’ experience in the Mortgage Lending Industry.

• Ability to act in a discrete manner in dealing with confidential records and sensitive information

• Strong organizational skill with ability to prioritize, multi task and complete multiple tasks on schedule, often in a stressful environment

• Ability to read and interpret investor, Agency and MWF guidelines

• Must be detail oriented with high-level math skills.

• Must have excellent oral and communication skills with a strong sense of customer service

• Ability to relate and work well with others.

• Possess strong analytical, problem solving and decision making skills.

• Demonstrate professional behavior and teamwork, in punctual, dependable and results oriented.

• Extended hours may be required as needed, including weekends/evenings and Holidays.