Transaction Specialist - LIFT
Job in
Indiana, Armstrong County, Pennsylvania, 15705, USA
Listing for:
First Commonwealth Bank
Full Time
position
Listed on 2026-01-12
Job specializations:
-
Finance & Banking
-
Administrative/Clerical
Salary/Wage Range or Industry Benchmark: 60000 - 80000 USD Yearly
USD
60000.00
80000.00
YEAR
Job Description & How to Apply Below
FCP - Lower Level
654 Philadelphia Street
Indiana, PA 15701, USA
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.
Responsibilities
Manages and pays escrow for Hazard and Flood Insurance. Researches as necessary for new policies, change in premium amount(s), cancellations of policies, and any other changes/discrepancies.Answers questions from Financial Solutions Centers, Engagement Center, clients, and third parties regarding hazard and flood insurance escrows.Processes 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.Verifies the accuracy of initial hazard insurance coverage for SBA, Fannie Mae, Freddie Mac and any loan with a commitment of $1 million or more.Ensures 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.Works 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.Ensures the accuracy of initial flood insurance and that it is renewed annually as applicable.Sends applicable document to respective state’s DMV to add our lien onto new vehicle titles.Appropriately records and stores securities in negotiable collateral vault, including stocks, bonds, etc. Assists with audits, additions and removal of securities from the negotiable collateral vault.Audits negotiable collateral vault annually.Prepares loan parameter maintenance forms to add or edit escrow payee codes.Scans, documents, and prepares filing envelope for new credit agreements.Verifies the accuracy of loan‑specific Title policies, Recorded Mortgages, UCC filings, Life Insurance & all securities.Verifies the accuracy of vehicle titles as compared to the loan documents for differences in names or Vehicle Identification Numbers (VIN).Sorts incoming insurance mail before sending for scanning. Identifies cancellations and ensure applicable updates to loans and escrow accounts.Works Insurance Cancellation Report daily; force place insurance if necessary. Applies Insurance refunds from force placed policies to loan accounts.Force places insurance, as required when coverage amount is inefficient on any loan.Scans and verifies wet signed documents and imports them into Synergy.Clears exceptions added by the Upload Team when documents are received and scan the documents to Synergy. Receives, documents, and scans all loan recorded documents.Renews vehicle liens monthly, as applicable.Communicates 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.Prepares & pays invoices and refunds for southeastern Underwriters (force placed insurance), CSC Diligentz (UCCs), and Esquire Assist (UCCs).Assesses fees to affected loans.Works Matched Error Report on VINtek.Works Unrecognized Report on VINtek to research and identify why titles are not matched to a loan.Works reports that show missing documents that LIFT is responsible to obtain, including Property Reports, Recorded Mortgages, Assignment of Rents, UCCs, Vehicle Titles, etc.Qualifications
High School Diploma or equivalent is required. A minimum of one (1) year experience related to the above duties preferred.
Moderate reading, writing, grammar, and mathematics skills; these skills normally associate with a high school diploma or equivalent.
Proficient analytical skills; proficient communicative and interpersonal relations skills.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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