What are the responsibilities and job description for the Associate, Collateral Management position at Bayview Asset Management, LLC?
Overview
POSITION SUMMARY:
The Collateral Associate is responsible for managing and maintaining the accuracy, completeness, and integrity of collateral documents for loans purchased by the firm. This role supports multiple lending product types including, but not limited to, Residential, Consumer, Small Balance Commercial, and Large Balance Commercial loans.
Essential DUTIES AND RESPONSIBILITIES:
Responsibilities may include, but are not limited to:
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.
POSITION SUMMARY:
The Collateral Associate is responsible for managing and maintaining the accuracy, completeness, and integrity of collateral documents for loans purchased by the firm. This role supports multiple lending product types including, but not limited to, Residential, Consumer, Small Balance Commercial, and Large Balance Commercial loans.
Essential DUTIES AND RESPONSIBILITIES:
Responsibilities may include, but are not limited to:
- Open, review, and sort incoming mail; identify loan files and related documents; and prepare materials for scanning and shipping.
- Review, track, and manage post-closing collateral documentation for purchased loans.
- Coordinate the receipt, certification, correction, and movement of original loan documents with custodians, sellers, external and internal stakeholders for activities including loan acquisitions, loan sales, pledging or securitizations.
- Identify, research and correct collateral document deficiencies in a timely and efficient manner. Remediation efforts may include working with counterparties to provide corrected documentation, or preparing corrected collateral documents, such as Lost Note Affidavits, Recorded Mortgages, Assignments of Mortgage/Deed of Trust, UCCs, or other similar documents.
- Review document execution requests by analyzing assignment and promissory note chains to ensure accuracy, completeness, and proper lien documentation.
- Identify documentation-related risks that may impact loan salability, pledging eligibility, or securitization readiness, and escalate issues as appropriate.
- Monitor collateral status and ensure timely remediation of deficiencies in accordance with contractual, regulatory, and investor requirements.
- Perform oversight of vendors or servicers to ensure collateral related services are performed in accordance with firm expectations and service standards.
- Prepare, maintain and update accurate collateral records, reports, and tracking tools to support management, audits, due diligence reviews and investor inquiries.
- Collaborate with legal, servicing, capital markets, compliance, and operations teams to resolve collateral issues and support transaction timelines.
- Escalate unresolved issues, adverse trends, or systemic risks to management as appropriate.
- Identify and communicate opportunities for process improvement initiatives focused on identifying adverse patterns, strengthening internal controls and providing operational efficiencies.
- Work independently to manage daily workload and competing priorities in a deadline-driven environment.
- Participate in special projects and ad hoc initiatives as assigned.
- Proficiency with Microsoft Suite including Excel, Word, Outlook and Teams.
- Demonstrated knowledge of the mortgage servicing and mortgage banking industry, with specific experience related to collateral documents including: Note, Mortgage/Deed of Trust, Assignment of Mortgage/Deed of Trust, Power of Attorney, Title Policy, and UCC’s.
- Strong organizational skills with the ability to work independently, manage competing priorities, and shift between multiple responsibilities throughout the workday.
- Must have excellent verbal and written communication skills, with the ability to interact effectively with internal and external stakeholders.
- Detail-oriented, self-motivated, and capable of meeting meet multiple time-sensitive deadlines while maintain accuracy and quality.
- Minimum 2 years mortgage experience working with collateral documents or related experience preferred
- Active Notary Public beneficial, but not required
Bayview is an Equal Employment Opportunity employer. All aspects of consideration for employment and employment with the Company are governed on the basis of merit, competence and qualifications without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, or any other category protected by federal, state, or local law.