Homeowners Insurance Specialist (Mortgage Servicing)

Servion•New Brighton, MN

About The Position

This role involves extensive administrative work within the Insurance operations of the Servicing Department. The Specialist will coordinate various functions related to flood insurance, hazard insurance, wind/earthquake insurance, homeowner’s associations (HOA), and investor guidelines. The position supports mortgage loan servicing and provides direct service to borrowers, interacting with borrowers, agents, investors, and vendors.

Requirements

Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements.
Familiarity with AllRegs.
Basic MS Office skills.
Proficient with mortgage loan software.
Reporting, letter preparation, group presentation and other related communications skills.
Ability to define problems, collect data, establish facts and draw valid conclusions.
Attend meetings or perform other assignments at locations outside the office, if necessary.
High School Diploma.
Entry Level: 1-3 years in mortgage industry.
Senior – Level II: 3-5 years in the mortgage industry.

Nice To Haves

Experience with Allied Solutions LLC.
Experience with lender-placed insurance.
Experience with insurance carriers (Allstate, American Family, Farmers, State Farm, etc.).

Responsibilities

Know and understand investor/insurer guidelines specifically FHA, FNMA, GNMA, FHLMC, VA, FHLB, USDA.
Monitor insurance vendor for compliance with investor guidelines.
Disburse hazard, flood, wind, earthquake, and HOA premiums in a timely manner.
Prepare bank account transfers.
Monitor timely payment of non-escrow items; pay bills, enforce coverage and establish escrow accounts as necessary.
Perform all responsibilities and functions listed for Level I with a high degree of independence (Senior - Level II).
Train new and current Insurance Specialists (Senior - Level II).
Serve as a resource for other Insurance Specialists regarding Insurance operations, policies or procedures (Senior - Level II).
Execute account resolution according to investor specifications (Senior - Level II).
Handle escalated insurance matters, including researching and providing a resolution to the borrower or investor (Senior - Level II).
Serve as primary contact and provide weekly reporting to insurance vendor (Senior - Level II).