Collateral Specialist

Hills Bank•Iowa City, CA

About The Position

The Collateral Specialist reports to the Loan Servicing Supervisor and works closely with the Loan Servicing Specialist, lenders, customers, and third-party companies. The role supports loan collateral administration, including the filing and release of recorded mortgages, vehicle titles, deposit accounts, and Uniform Commercial Code (UCC) filings. It also handles escrow holdback agreements and disbursements, loan payoff requests, insurance processing and tracking, and force-placed insurance administration. The position communicates with customers and lenders about insurance requirements and coverage issues and follows applicable state and federal regulations. The schedule is full-time, Monday through Friday, on a rotating shift between 7:30 a.m. and 5:00 p.m., averaging 40 hours per week.

Requirements

Bachelor's degree in business or a related field, or 2–3 years of related experience.
Computer and communication skills suitable for a typical office environment.
Ability to use office equipment.

Responsibilities

Follow up on outstanding collateral to ensure proper filing.
Prepare and file mortgage releases from weekly collateral release reports.
Research and prepare requested mortgage releases, subordinations, and partial releases.
Complete the monthly reconciliation of the Mortgage Release Fee GL.
Process incoming hazard and flood insurance policies.
Document and communicate insurance cancellation and renewal issues with customers and lenders to ensure appropriate coverage is maintained.
Arrange force-placed insurance when necessary.
Reconcile, refund, and renew force-placed insurance on a monthly basis.
Ensure proper lien filing for vehicles and deposit accounts held as loan collateral.
Process weekly title and deposit account release reports and special release requests.
Review UCC filings for loans secured by commercial and agricultural security agreements to confirm proper lien filing.
Resolve incorrect UCC filings or lien placement issues.
Follow up monthly on UCC continuations and amendments.
Process escrow holdback agreements and distribution items, follow up with lenders regarding fees, and process customer distributions.
Process incoming loan payoff requests.
Answer questions and provide backup support to the Assistant Collateral Specialist, Flood Insurance Specialist, Title Work Administrator, and Loan Servicing Specialists.
Assist with filing and other Loan Servicing Department duties and projects as needed.
Assist with other bank activities when requested.
Assist in developing manuals and supporting documentation for duties associated with the position.