Description
Responsibilities include but are not limited to:
- Review payoff requests received from borrowers, attorneys, title companies or other representatives of the borrower. Ensure borrower has authorized the release of information.
- Process and prepare payoff statement in accordance with the written request and bank policy.
- Deliver payoff request to requesting party timely and in advance of the requested date.
- Verify funds received upon remittance of payoff funds. Secure necessary funds to satisfy the loan when funds are short.
- Review daily reports of loans paid in full and begin the preparation of the cancellation of the Mortgage or Deed of Trust in accordance with local, state or federal guidelines.
- Ensure loan is satisfied by reviewing history; verifying the principal balance is zero.
- Retrieve the Permanent and Collateral files from the File Room. Review files for appropriate documentation to cancel the banks lien against the mortgaged property in a timely manner and in compliance with regulations.
- Prepare cancellation documents for signature by authorized bank personnel and send to the respective County Clerks for cancellation.
- Return documents to borrower showing the loan has been paid in full and the lien has been cancelled of record.
- Prepare completed files for shipping to Archives
- Maintain full compliance with all Regulatory requirements and bank policies and procedures.
- Be able to lift and move boxes up to 20 pounds.
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