Duration: 3-4 months with possible extension
Acts as liaison between Portfolio Management and Collateral Records to create or obtain and track collateral document exceptions related to loans sold to third parties by Bayview.
Essential DUTIES AND RESPONSIBILITIES:
• Order collateral files from Bayview custodian to purchaser custodian as needed. Research pending and released collateral files; obtain bailee letters, request release of files no longer needed by third parties, and other curative measures as needed.
• Prepare or utilize vendor to prepare transfer documents (mortgage assignments and note allonges) for loans sold by Bayview to third parties. Determine vendor resources required for each loan sale transaction and assign to appropriate vendor.
• Coordinate execution and notarization of transfer documents.
• Obtain additional missing documents required for sold loans, including but not limited to final title policies, recorded documents, Lost Note Affidavits, etc. Utilize in-house resources or vendors to obtain these documents.
• Ensure documents are imaged prior to shipping to purchaser or its designee.
• Track receipt of incoming documents via input to in-house database; ship documents to respective purchasers or purchaser’s custodians as needed.
• Maintain records of pending items and follow up with vendor as needed. Escalate any concerns related to timely receipt to Manager and Portfolio Management.
• Respond to purchaser and vendor inquiries regarding document fulfillment status.
• Provide management with daily reports of progress.
• Conduct periodic status calls with purchasers and vendors
• Strong familiarity with mortgage loan documents, particularly chain of assignments and note endorsements.
• Strong organizational skills, including ability to prioritize workload.
• Strong communications skills for interaction with co-workers, Manager, Portfolio Management, vendors, and purchasers.
• Minimum High School Diploma
• Minimum 5 years prior experience in mortgage industry, with knowledge of mortgage collateral documents.