Job Information
New Jersey Housing and Mortgage Finance Agency Collateral Review Specialist in Trenton, New Jersey
Collateral Review Specialist
Location Trenton, NJ
Job Code 728
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NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Collateral Review Specialist
Salary Range: R9 ($51,827.94 - $72,939.79)
Division: Single Family Programs
FL Status: Non-Exempt
Issue Date: 6/17/24
Closing Date: 7/12/24
Union Status: Administrative Bargaining Unit, Non-Exempt
Employment Status: Full time
JOB DESCRIPTION
Under supervision of the Manager of Loan Securitization, the Collateral Review Specialist will be responsible for collecting all loan collateral which includes accurate and timely recording, tracking, and safekeeping of original documents and release of collateral to authorized parties. The specialist will be able to differentiate between various program document requirements and integrate processes where applicable. Perform related duties as required.
Collect, sort, file and ship collateral to authorized parties in the time frame required. Ensure the original loan collateral documents are stored in the fireproof file cabinets assigned.
Verify all collateral documents are present, audit documents for original versus copies, review documents for accuracy prior to the purchase of the loans; verify proper recording; update Agency Systems with review results.
Prepare collateral files for distribution to Servicer, Sub-servicer and Document Custodians accurately and within the time frame required.
Generate correspondence as necessary in order to obtain initial documentation or to initiate corrections to erroneous documentation; manage bailee letters and transmittals.
Prepare the original collateral files for shipment to warehouse banks; maintain records of all loans shipped.
Review exceptions to ensure timely processing of missing or expired documents.
Track and maintain the collateral from lenders, closing agents, counties etc. in Program Collateral Spreadsheets.
Scan documents and sort electronic data into necessary storage drives.
Perform related duties as required.
REQUIRED KNOWLEDGE, SKILLS AND ABILITIES
Knowledge of real estate and mortgage loan documents - Knowledge of NJHMFA Single Family Participating Lender’s Guide - Knowledge of Single Family Program parameters - Ability to accurately enter and retrieve computer data - Ability to monitor and track mortgage files - Ability to follow-up with lenders and customer and Agency staff to coordinate and ensure that all documents are received and processed within established time frames. - Ability to organize and accomplish multiple assignments simultaneously - Ability to communicate effectively both orally and in writing - Ability to listen actively - Ability to establish and maintain effective working relationships with staff, lenders and the general public - Ability to maintain a positive work atmosphere in an appropriate manner of behavior which ensures cooperation and effective communication with customers, clients, peers and management
Education and Experience Requirements Two (2) year degree; and five (5) years of business experience; or an equivalent combination of education and experience that meets the required knowledge, skills and abilities. Physical Demands Non physical Working Conditions General office environment. Some travel is required to attend meetings away from the office. Certificates & Licenses Required A valid driver's license in the state in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
Medical, prescription, dental, vision & long term disability
FSA & HSA
Public Service Loan Forgiveness and Tuition Reimbursement
Public Employees' Retirement System (PERS)
Deferred compensation plans
Employee assistance services (EAS)
State employee discounts program
Paid personal, sick and vacation days
Paid holidays
Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
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