Collateral Acquisition Associate

This is an exciting opportunity to join a growing company in an emerging market.  We offer a fast paced and fun environment where your input and experience are valued.

Company

Verus Mortgage Capital is an independent national mortgage investor. Verus offers it’s Sellers responsible non-prime and Jumbo prime lending products that fill the credit void in today’s market. Verus consistently evaluates today’s market and credible borrower financing needs to offer our partners innovative solutions. Verus Mortgage Capital is an affiliate of Invictus Capital Partners please visit our website at https://verusmc.com/.

Role

Verus Mortgage Capital is seeking a Collateral Acquisition Associate to efficiently facilitate the legal document collateral aspect of the mortgage loan acquisition process.

The scope of this role includes, but is not limited to, coordinating document shipments to custodian, data extraction and transmission, working with sellers to resolve custodian exceptions and, validation of third-party legal document data within established timeframes. The ideal candidate should have strong knowledge of mortgage legal documents (collateral) for a variety of mortgage products spanning personal and business purpose residential loans, and the ability to work with internal and external counterparts enabling the organization to successfully purchase, service, and securitize viable mortgage transactions.  The office is located in Bloomington, MN; however remote candidates will be considered.

Accountabilities

  • Collaborate with sellers and third-party custodial vendor(s) to ensure appropriate documents and data are captured/received and files are processed for acquisition within established timeframes.
  • Complete legal document collateral comparison for consistency with price lock including review of Note, Mortgage, Riders & Title. Collaborate with lock desk associates to research and resolve discrepancies.
  • Ensure legal document collateral is valid, enforceable, and serviceable to meet all operational components of the business strategies.
  • Ensure sellers resolve exceptions for both initial legal document delivery/transfer and trailing document delivery/transfer in a timely manner both pre and post purchase.
  • Obtain updated/current loan balance and status information as needed for accurate loan purchase from Sellers; update system as applicable.
  • Extraction and/or validation of third-party data necessary for loan servicing setup
  • Serve as MERS subject matter expert; execute tasks to effect transfer of loans within the MERS system and adhere to MERS membership rules.
  • Ensure all necessary information and data, has been communicated to internal acquisition counterparts to successfully acquire mortgage loans for purchase, servicing transfer and future sale.
  • Provide guidance and training of Verus requirements to Sellers and Custodian(s) as needed.
  • Provide backup support for other acquisition roles as needed.
  • Participate in the development and maintenance of processes, policies, and systems to support the acquisition process.
  • Complete additional projects & responsibilities as assigned that contribute to the growth & well-being of the company

Education and Experience

  • Undergraduate degree, preferably in finance or business, or equivalent work experience
  • Minimum 5 years’ relevant experience in the mortgage, accounting, banking, servicing or investment banking industry

Required Skills/ Abilities

  • Working knowledge of mortgage product parameters
  • A working knowledge of closing and post-closing legal documents for personal and business purpose residential mortgage loans; commercial lending legal document experience is beneficial
  • Working knowledge of MERS and its requirements for transfer of loans thru the Mortgage Electronic Registrations System (MERS)
  • Working knowledge of state and federal compliance and regulatory environment a plus
  • Intermediate Microsoft Excel. Word and Outlook skills
  • Familiarity with LMS software is beneficial
  • Ability to independently complete multiple time-sensitive tasks with minimal supervision
  • Ability to work both independently and collaboratively within a small team environment
  • Strong negotiation, communication and interpersonal skills, high energy, team player

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person’s race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age or sexual orientation, or because of a person’s disability or medical condition.

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