The Lien Release team is centralized in Brooklyn, Ohio and consists of Commercial and Consumer Collateral Specialists, a Workflow Coordinator, and a Department Manager.
The primary objective of the Lien Release team is to minimize risk and controllable loss to KeyBank by serving as the Bank’s internal control point over releasing the loan collateral.
The Lien Release Specialists are responsible for all tasks associated with preparing and filing loan collateral release documents in accordance with department procedures and State / County requirements. Prior to releasing the Bank's interest in a customer's collateral, the Lien Release Specialist will:
- Validate the loan is paid in full, including; principal, fees, and interest via a mainframe based loan systems.
- Perform an extensive review of the collateral in our loan systems to insure the collateral is not tied to other open or outstanding loans or lines.
- Verify the loan or servicing rights were not previously sold or assigned to another Bank.
- Obtain the appropriate approvals from the borrower's Contact Officer or Credit Officer to insure the collateral is not going to be used to secure future loans or lines.
Once the above is complete, our team will take the necessary actions to release our lien(s), which include: preparing, executing, notarizing, and filing the appropriate lien release document(s) with the appropriate recording agency or working with a third party to do the same. Maintaining accurate and complete records of actions performed to ensure timely release of loan collateral.
To achieve our daily processing goals, after an initial six-month on-boarding period, Lien Release Specialists are expected to achieve task specific: service level, quality, and productivity standards while adhering to KeyBank policies and department procedures. REQUIRED QUALIFICATIONS
- High School diploma or equivalent
- Intermediate PC skills and ability to use MS Word/Excel
- Experience working with mainframe and web-based applications
- Ability to read and interpret complex legal documents
- Attention to details
- Strong problem solving skills, flexible thinking
- Service oriented – client centricity
- Ability to lift/move 40 pound mail tubs
- Prior collateral processing or loan records experience
- General knowledge of consumer and commercial loan products
- Knowledge of collateral documentation
- Experience working with the ALS, CLS, Loan IQ, MSP and KVD applications
- Experience working in a fast paced, back-office, operations environment
Training Provided: Written procedures and on the job training with a subject matter expert.FLSA STATUS:
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
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