Position: NCB Capital Impact - Collateral Control Specialist
Location: Crystal City, VA
Nature & Scope: The Collateral Control Specialist will be responsible for managing insurance and UCC-1 filings for all loans. They will Assure and maintain adequate insurance coverage for each loan in the loan portfolio. Assure that collateral controls and follow-ups are processed and monitored daily and that all NCB Capital Impact Mortgage Fixture filings, Security interests with attached UCC-1 and other types of security interests are properly filed and in place during the life of the loan.
Responsibilities Include:
- Insurance Renewal
- Verify insurance certificate from closing packet meets insurance requirements. Review all coverage renewals for loans in the loan portfolio. Update Covenant Tracking system to reflect receipt of documentation. Interact with outside insurance providers, loan officers and Asset Management to actively manage the timely receipt of proper insurance documentation.
- Monitor the forced placed coverage from our insurance providers and review all insurance claims. Enhance the existing Covenant Tracking system to better serve the team’s insurance needs.
- UCC-1 Continuations, Releases, Amendments, and Terminations
- Monitor the Diligence Web Database tickler system for expiring UCC’s and file continuations for active loans.
- Process requests to prepare releases as approved by managers using our internal payoff processes.
- Provide recorded UCC’s and ensure post closing recorded documents have been received by the Records Department for filing and scanning.
- Determine that property is not cross-collateralized to secure an active loan before releasing.
- Amend UCC’s as necessary.
- Paid Loan Processing
- Monitor process and track paid loans.
- Determine what collateral is to be released.
- Terminate UCC-1’s and process the release of other collateral requested by the manager using our internal payoff processes.
- Research criteria of local jurisdictions as needed in order to release real property.
- Scan release and satisfaction documents into electronic files for immediate reference.
- Maintain electronic library of release documents and templates.
- Coordinate files for off-site storage with Records Specialist.
- Provide back-up to Compliance Manager in submitting reporting requirements to investors and other duties as assigned.
Minimum Qualifications:
- Strong working knowledge of insurance coverage, understanding of insurance language and understanding of claim and renewal process.
- Knowledge of Loan Documentation, especially the documents used to secure collateral held for loans.
- Knowledge of the UCC Article 9 laws as it relates to Commercial and Real Estate Loans.
- Ability to research utilizing diverse sources, including State and County websites.
- Effective oral and written communication, collaborative work style with a strong team ethic, and ability to work with diverse group of people internally and externally.
- College degree preferred, with a background in banking, mortgage, legal or insurance industry with responsibility in perfecting interest in security/collateral and well versed with a thorough understanding of insurance coverage requirements for all real estate and commercial property types.
- 2-5 years working with insurance coverage or in insurance related industry.
- 1-2 years working in lending industry in relation to collateral control or administration of documentation.
If you would like to apply for this position, please submit your resume to ncbvajobs@ncb.coop.
