Collateral Specialist

Hills Bank•Hills, IA

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 ensures proper filing and release of recorded mortgages, vehicle titles, deposit accounts, and Uniform Commercial Code (UCC) filings, and handles escrow holdback agreements and disbursements. It also includes researching and preparing mortgage and UCC releases, subordinations, and partial releases; processing insurance policies and escrow billing; following up on lapsed coverage; and administering the force-placed insurance portfolio. The specialist communicates insurance requirements to customers and helps ensure compliance with state and federal regulations. This is a full-time position, Monday through Friday, with a rotating schedule between 7:30 a.m. and 5:00 p.m. and an average of 40 hours per week. The job requires the skills used in a typical office environment, including computer and communication skills and the use of office equipment.

Requirements

Bachelor's degree in business or a related field, or 2–3 years of related experience.
Computer skills, communication skills, and 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.
Reconcile the Mortgage Release Fee general ledger monthly.
Process incoming hazard and flood insurance policies.
Document and communicate insurance cancellation and renewal issues with customers and lenders to maintain proper coverage.
Arrange force-placed insurance when necessary.
Reconcile force-placed insurance monthly, including refunds and renewals.
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 on loans secured by commercial and agricultural security agreements to ensure proper lien filing.
Resolve incorrect filing or lien placement issues.
Follow up monthly on UCC continuations and amendments.
Process escrow holdback agreements and distributions, including following up with lenders regarding fees and processing customer distributions.
Process incoming loan payoff requests.
Answer questions and provide backup 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 the duties of the position.