Transaction Specialist - LIFT
First Commonwealth Bank

Responsible for various duties in the LIFT including, but not limited to the following functions: Loan document follow up, Perfection of Collateral, including mortgages, titles & UCCs. Tracking collateral insurance policies & renewals. Renewing liens of vehicles and continuing liens on UCCs. Pay hazard & flood insurance escrow.

High School Diploma or equivalent is required. A minimum of one (1) year experience related to the above duties preferred.

Essential Job Responsibilities__________________________________

1. Manage and Pay Escrow for Hazard and Flood Insurance. Research as necessary for:
i new policies,
ii change in premium amount(s),
iii cancellations of policies, and
iv any other changes/discrepancies.

2. Answers questions from Financial Solutions Centers, Engagement Center, clients, and third parties regarding hazard and flood insurance escrows.
3. Process service events from Special Assets, the Engagement Center, clients, and Financial Solutions Centers requesting the printing of paper titles for repossession and other reasons, as applicable.
4. Verify the accuracy of initial hazard insurance coverage for SBA, Fannie Mae, Freddie Mac and any loan with a commitment of $1 million or more.
5. Ensure that hazard insurance renewal policies are in effect for SBA, Fannie Mae, Freddie Mac, and any loan with a commitment of $1 million or more.
6. Work separate reports weekly to track hazard, contents and flood insurance (SBA), Fannie Mae, Freddie Mac, and any loan with a commitment of $1 million or more.
7. Ensure the accuracy of initial flood insurance and that it is renewed annually as applicable.
8. Send applicable document to respective state's DMV to add our lien onto new vehicle titles.
9. Appropriately record and store securities in negotiable collateral vault, including stocks, bonds, etc.
i. Assists with audits, additions and removal of securities from the negotiable collateral vault.
10. Audit negotiable collateral vault annually.
11. Prepare loan parameter maintenance forms to add or edit escrow payee codes.
12. Scan, document, and prepare filing envelope for new credit agreements.
13. Verify the accuracy of loan-specific Title policies, Recorded Mortgages, UCC filings, Life Insurance & all securities.
14. Verify the accuracy of vehicle titles as compared to the loan documents for differences in names or Vehicle Identification Numbers (VIN).
15. Sorts incoming insurance mail before sending for scanning.
i. Identify cancellations and ensure applicable updates to loans and escrow accounts.
16. Work Insurance Cancellation Report daily;
i. force place insurance if necessary.
Ii. Apply Insurance refunds from force placed policies to loan accounts.
17. Force place insurance, as required when coverage amount is inefficient on any loan.
18. Scans and verifies wet signed documents and imports them into Synergy
19. Clear exceptions added by the Upload Team when documents are received and scan the documents to Synergy. Receive, document, and scan all loan recorded documents.
20. Renew vehicle liens monthly, as applicable.
21. Communicate with clients, Financial Solutions Centers, Engagement Center, and third parties to ensure the risk management of each client relationship is in compliance with policy and procedure, as well as commercial and regulatory guidelines.
22. Prepare & pay invoices and refunds for:
i Southeastern Underwriters (force placed insurance),
ii CSC Diligentz (UCCs), and
iii Esquire Assist (UCCs).
23. Assess fees to affected loans.
24. Work Matched Error Report on VINtek.
25. Work Unrecognized Report on VINtek to research and identify why titles are not matched to a loan.
26. Work reports that show missing documents that LIFT is responsible to obtain, including:
i. Property Reports,
ii Recorded Mortgages,
iii Assignment of Rents,
iv UCCs,
v Vehicle Titles, etc.

Bona Fide Occupational Qualifications___________________________

1. Moderate reading, writing, grammar, and mathematics skills; these skills normally associate with the receiving of a high school diploma or equivalent;

2. Proficient manual dexterity and eye-hand coordination;

3. No physical limitations that will prohibit heavy lifting.

4. Successful completion of the 1-3 month training period within the department.

5. Proficient analytical skills; proficient communicative and interpersonal relations skills.

6. Ability to comply with established budgets and operate within budgetary constraints.



Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)