Responsible for various duties in the LIFT including, but not limited to the following functions: Loan document follow up, Perfection of Collateral, including mortgages, titles & UCCs. Tracking collateral insurance policies & renewals. Renewing liens of vehicles and continuing liens on UCCs. Pay hazard & flood insurance escrow.Essential Job Responsibilities
Manages and pays escrow for Hazard and Flood Insurance. Researches as necessary for new policies, change in premium amount(s), cancellations of policies, and any other changes/discrepancies.
Answers questions from Financial Solutions Centers, Engagement Center, clients, and third parties regarding hazard and flood insurance escrows.
Processes service events from Special Assets, the Engagement Center, clients, and Financial Solutions Centers requesting the printing of paper titles for repossession and other reasons, as applicable.
Verifies the accuracy of initial hazard insurance coverage for SBA, Fannie Mae, Freddie Mac and any loan with a commitment of $1 million or more.
Ensures that hazard insurance renewal policies are in effect for SBA, Fannie Mae, Freddie Mac, and any loan with a commitment of $1 million or more.
Works separate reports weekly to track hazard, contents and flood insurance (SBA), Fannie Mae, Freddie Mac, and any loan with a commitment of $1 million or more.
Ensures the accuracy of initial flood insurance and that it is renewed annually as applicable.
Sends applicable document to respective state's DMV to add our lien onto new vehicle titles.
Appropriately records and stores securities in negotiable collateral vault, including stocks, bonds, etc. Assists with audits, additions and removal of securities from the negotiable collateral vault.
Audits negotiable collateral vault annually.
Prepares loan parameter maintenance forms to add or edit escrow payee codes.
Scans, documents, and prepares filing envelope for new credit agreements.
Verifies the accuracy of loan-specific Title policies, Recorded Mortgages, UCC filings, Life Insurance & all securities.
Verifies the accuracy of vehicle titles as compared to the loan documents for differences in names or Vehicle Identification Numbers (VIN).
Sorts incoming insurance mail before sending for scanning. Identifies cancellations and ensure applicable updates to loans and escrow accounts.
Works Insurance Cancellation Repo
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