Job Description
Brief Description
Job Summary:
The Collateral/MERS Servicing Specialist is responsible for managing and maintaining the integrity of collateral and MERS (Mortgage Electronic Registration Systems) records. This role ensures compliance with regulatory requirements and internal policies, while providing exceptional service to internal and external stakeholders.
Key Responsibilities
Collateral Management:
Review and verify collateral documents for accuracy and completeness.
Maintain and update collateral records in the system.
Coordinate with internal departments and external parties to resolve collateral-related issues.
Ensure timely and accurate release of collateral upon loan payoff or satisfaction.
MERS Servicing
Register and update loans in the MERS system.
Perform regular audits of MERS records to ensure accuracy and compliance.
Resolve discrepancies and issues related to MERS registrations.
Stay updated on MERS policies and procedures and implement changes as needed.
Compliance And Reporting
Ensure compliance with all regulatory requirements related to collateral and MERS servicing.
Prepare and submit required reports to regulatory agencies and internal management.
Assist in the development and implementation of policies and procedures to enhance compliance and operational efficiency.
Key responsibilities
Preliminary title report review and analysis
t reviews of preliminary title reports, title commitments, abstracts, and title search documents.
Identify and analyze liens (e.g., mortgages, judgments, tax liens), easements, legal description errors, encroachments, and vesting issues.
Coordinate with internal and external parties, including sellers, lenders, and county records offices, to obtain the necessary documents and information.
Draft and prepare legal documents, such as corrective deeds, affidavits, or subordination agreements.
Negotiate with lienholders, homeowners associations, and other relevant entities to facilitate the release or resolution of monetary liens.
Manage a pipeline of curative files, prioritizing urgent matters to meet transaction deadlines.
Oversee title company and vendors
Communicate with vendors to track the progress of title searches and document recordings.
Address inquiries and requests from vendor, clients, and internal staff, providing timely and professional updates on file status
Qualifications
Bachelor's degree.
Minimum of 2 years of experience in mortgage servicing, collateral management, or a related area.
Strong knowledge of MERS system and regulatory requirements.
Excellent attention to detail and organizational skills.
Strong communication and interpersonal skills.
Proficiency in Microsoft Office Suite and mortgage servicing software.
Preferred Qualifications
Experience with loan origination and servicing systems.
Knowledge of mortgage industry regulations and best practices.
Certification in mortgage servicing or related field.
