Collateral Specialist

Exceed the expectations of our residential mortgage borrowers & business partners through superior service, simple processes, and effective communications.

We deliver on this mission by empowering our employees by encouraging and recognizing superior performance and innovative solutions, by promoting teamwork and divisional cooperation.

Primary Function

The Collateral Specialist reviews funding loan packages to ensure that closing documents are included and correct, follows up with the necessary parties to obtain corrections on closing documents, and prepares and works daily reports to avoid late delivery penalties.

Principal Duties

• Identify errors in closing documents then follow through with corrections.
• Correspond with the escrow/title companies, internal customers, and/or brokers in performing all tasks associated with obtaining and reviewing pertinent mortgage documents.
• Daily reporting to management of outstanding document exceptions to avoid penalties and the delay of loan sales.
• Daily monitoring of new and ongoing document exceptions.
• Working with internal departments and external companies to coordinate the resolution of exceptions and errors. Such as brokers, title company, warehouse facilities.
• Responsible for processing the release of documents to warehouse banks.
• Communicate with custodian/warehouse bank to confirm processes and expectations.
• Maintaining data integrity in our internal systems for dates, data tracking and reporting.
• Performs related duties as assigned by management.

Education and Experience Requirements

• High School diploma or equivalent.
• 1-2 years' experience in mortgage funding/closing environment preferred.

Knowledge, Skill and Ability Requirements

• Working knowledge and proficiency on all Microsoft Office products (especially Excel, Word, Outlook).
• Excellent verbal and written communication skills.
• Excellent customer service skills.
• Strong proof-reading skills.
• Works well under stress.
• Strong time-management skills.
• Flexible with process changes and system updates.
• Strong written and verbal communication skills.

Additional Information:

While this description is intended to be an accurate reflection of the position's requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Okta Verify and Microsoft Authenticator. Employment will be contingent on this requirement.

Company Benefits:

Newrez is a great place to work but we are only as strong as our greatest asset, our employees, so we believe in rewarding them!

• Medical, dental, and vision insurance

• Health Savings Account with employer contribution

• 401(k) Retirement plan with employer match

• Paid Maternity Leave/Parental Bonding Leave

• Pet insurance

• Adoption Assistance

• Tuition reimbursement

• Employee Loan Program

• The Newrez Employee Emergency and Disaster Fund is a new program to support our team members

Newrez NOW:

• Our Corporate Social Responsibility program, Newrez NOW, empowers employees to become leaders in their communities through a robust program that includes volunteering, philanthropy, nonprofit grants, and more

• 1 Volunteer Time Off (VTO) day, company-paid volunteer day where all eligible employees may participate in a volunteer event with a nonprofit of their choice

• Employee Matching Gifts Program: We will match monetary employee donations to eligible non-profit organizations, dollar-for-dollar, up to $1,000 per employee

• Newrez Grants Program: Newrez hosts a giving portal where we provide employees an abundance of resources to search for an opportunity to donate their time or monetary contributions

Equal Employment Opportunity

We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

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