Sr. Collateral Specialist Jobs

Responsible for the loan document maintenance function of the warehouse lending division, as it pertains to collateral documents. Duties also include daily processing, following up with customers, obtaining managerial approvals, and timely follow up on documentation. Also responsible for keeping the Supervisor abreast of any issues/problems that may arise.

Essential Duties And Responsibilities

Shipping

• Monitor the wet report in WLS, contact customer relative to status of collateral that is about to exceed contractual wet limit
• Review all shipping documents as follows:
• Maintain communication with clients through email and telephone concerning collateral and shipping requests
• Prepare Bailee Letter to be sent with collateral shipment to investor
• Make necessary notes on the comment screen of activity for loans
• Verify note date, amount and property address agree with data in WLS
• Check that the allonge matches the information on the note and is endorsed correctly
• Outgoing files are shipped in the WLS system
• Original notes received prior to funding MUST BE KEPT in fire proof, locked, cabinet
• Match up collateral with funding for the day and prepare for shipping to the investor
• Check if addendums are to be included with the Note
• Note has original signatures
• Upload signed Note into WLS if necessary
• Compare to Note that all signatures, dates, amounts and descriptions are the same
• Pull MERS reports daily and release SGB interest in all loans that were settled the previous day
• Contact customers for missing documents, pages; updates or extended investor locks
• Makes copies of the above data for WLS if necessary
• Communicate with third parties, i.e.: purchasing entities as needed
• Confirm that a copy of the legal description is present
• Note is signed exactly as typed
• Express shipping tickets are prepared for each investor
• Copy of the Deed of Trust/Mortgage:
• Verify all pages and addendums have been received
• Stamped certified copy
• Train back up staff
• If lock was not provided at the time of funding obtain an active lock from customer, review lock to information in WLS, if lock is accurate update WLS to reflect the correct investor
• Monitor all reports daily
• Clear exceptions from the collateral exception report
• Original note:
• Confirm that an original corporate assignment is present if Note is not MERS registered
• Check in collateral received by delivery, record as received in WLS and on the mail received spreadsheet. Review all docs for consistency and accuracy.
• Create reports as needed

General

• Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
• Must adhere to the company’s core values of Integrity, Innovative, Act Like an Owner, Work Hard/Have Fun, Superior Service, and Teamwork
• Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures

Knowledge, Skills And Abilities

• Word processing and spreadsheet skills
• Organizational skills and attentions to detail
• High school graduate or equivalent. Additional related training or certification preferred
• Working knowledge of lending documents
• Good verbal and written communication skills

Bank Secrecy Act Requirements

Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and

Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as

specified by the Office of Foreign Asset Control (OFAC), following the bank’s customer identification

program (CIP) rules, observing all Bank policies and procedures relating to BSA, OFAC, CIP, and related

acts, and participation in ongoing related training.

WORK CONDITIONS

Standard office environment with a moderate noise level.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is:

• Occasionally required to stand; walk
• Required to sit for long periods and reach with hands and arms
• Regularly required to talk or hear
• Required to communicate with customer and coworkers verbally and in writing
• Occasionally required to lift up to 25 pounds
• Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision

Management reserves the right to add to, change and revise this description at any time. This description does not include any marginal functions that are incidental to the essential functions. Also, it does not imply that these are the only tasks to be performed by the incumbent. Employees are required to follow any other job-related instructions and to perform any other job-related tasks requested by their supervisor. Any requirement may be modified to reasonably accommodate individuals with disabilities.

Silvergate Bank is an EEO/AA/Disability/Vets Employer

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