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Real Estate Collateral Control Specialist

Real Estate Collateral Control Specialist

Job Description

The incumbent performs duties related to collateral protection to the Mortgage Post Closing Department, including processing lien releases on paid in full First Mortgage and Equity Loan accounts and recordation of liens on Equity Loan accounts. Cross trains and assists in other positions/functions as required.


  • Maintains electronic files of real estate loans that are paid in full, including updates to reflect lien release dates.
  • Reconciles and processes incoming payoff checks on real estate loans and communicates with payor to resolve any discrepancies.
  • Completes lien releases on paid in full first mortgage and equity loans in accordance with State and local laws and PenFed procedures. Includes obtaining files from Mortgage Servicing, completing appropriate documents, obtaining proper signatures and forwarding to appropriate parties for recording.
  • Corresponds with members, other departments, vendors and third parties including settlement agents and attorneys, concerning recordation and/or release of liens on first mortgage and equity loans, by telephone and in writing.
  • Reviews member correspondence received to determine what action needs to be taken in order to resolve complaints and respond in a timely manner, adhering to standards, policies and procedures.
  • Assists other PenFed departments in researching real estate lien related matters, insuring the accuracy of the information provided.
  • Maintains and utilizes an automated system for the production and tracking of lien releases, loan assignments and other related documents. Interacts with automated system provider to resolve problems and research system capabilities.
  • Acts as liaison to vendor for the production of lien releases. Responsible for the production and delivery of electronic and physical files to vendor. Maintains records of vendor activity and monitors vendor performance.
  • Maintains current knowledge of related Federal, state and local laws in addition to operational procedures for First Mortgage and Equity loans, and their related automated systems.
  • Provides input to and assists in the implementation of department operational procedures.
  • Assists with maintaining PenFed’s compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations.
  • This is not intended to be an all-inclusive list of job duties.

Job Requirements

Special Requirements:

  • Associates degree or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions.
  • Two years work experience, preferably in PenFed operations, required.
  • Strong mathematical, oral and written communications skills required.
  • Experience with PCs and automated systems required.
  • Typing/Keyboard speed of 35 WPM required.
  • You don't need a security clearance, but you must be bondable and pass a credit check


  • Medical/Dental/Vision
  • Sick and personal leave accruals
  • Immediate enrollment in 401(k) plan with employer match after 6 months on the job
  • Tuition assistance program
  • Fully paid on-site classroom training - you'll know what you are doing before you ever take the first call!

We are proud to be an equal opportunity employer.

Job Snapshot

Base Pay $11.37 /Hour
Employment Type Full-Time
Job Type Finance, Other
Education Not Specified
Experience Not Specified
Manages Others No
Industry Banking - Financial Services, Mortgage
Required Travel Not Specified
Job ID 726604
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Real Estate Collateral Control Specialist

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