What are the responsibilities and job description for the Loan Collateral and Support Analyst position at Westerly Community Credit Union?
$1,000 Sign-on Bonus
*Paid after 90 days with a satisfactory review*
DESCRIPTION:
To excel in the tasks specific to this essential role, as well as participate and help develop our WCCU Cares culture. You would be responsible for providing outstanding service to our members and to our internal staff (#TeamWCCU) Your actions will directly contribute to our goal of caring about our members, their financial needs, and our community.
This position is responsible for deed and title management to include tracking the receipt of deeds and titles for new loans and releasing said documents when loans are paid. Ensures loans payoffs and releases are processed correctly. Processes lien subordinations in accordance with WCCU guidelines. Tracks loans outside of blanket coverage limits to ensure collateral is ensured and protected. Processes the monthly reporting for various aftermarket products such as GAP, MBP, and debt protection.
ESSENTIAL FUNCTIONS AND BASIC DUTIES
1. Assumes responsibility of files and collateral in retention room
- Secure, organize, file, maintain, and release files and collateral held
- Maintain tracking records for applicable loans outside blanket coverage limits to ensure collateral is protected.
- Utilize reporting capabilities to maintain accurate and up-to-date records on deeds and titles in transit
- Completes subordination request approval and prepares subordinations as required
2. Assumes responsibility of Data Tracking, Record Management and Quality Control
- Deed tracking to ensure recorded deeds have been secured.
- UCC tracking to ensure they have been filed with the proper state authority and have not expired.
- Boat titles and ships mortgage have been secured with states and US Coast Guard.
- Auto title tracking to ensure titles have been secured through state DMV’s.
- GAP, Mechanical Breakdown, and Debt Protection tracking
- Responsible for reviewing and ensuring Home Equity, Manufactured Home Loans, and Boat loans are properly documented and collateralized.
3. Assumes responsibility for loan payoff and collateral release.
- Run paid loan reports weekly to process closed loans.
- Confirm and verify payoff information.
- Release note, title, UCC, or ship’s mortgage as appropriate.
- Prepare mortgage release letters.
- Assist management in the utilization of digital titles, deeds for initial securitization and later release
4. Assumes responsibility for maintaining professional working relations with members, Credit Union personnel, and business contacts.
- Obtains and conveys information as required.
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Primary Support analyst for the loan servicing department. Answers phone calls and emails promptly.
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Answers questions, resolves problems, and responds to requests for documents promptly and courteously.
- Maintains member confidentiality and projects the Credit Union’s professional reputation.
5. Assumes responsibility for related duties as required or assigned.
- Assists in the functions of other Loan Servicing staff while absent
- Ensures work area is clean, secure, and well maintained
- Completes special projects, analysis, and miscellaneous clerical functions as assigned
- Management is appropriately informed of area activities and of any significant problems