Mortgage Insurance Administrator

ConnectOne Bank • Union, NJ

7d • $55,000 - $60,000 • Hybrid

About The Position

The Mortgage Insurance Administrator is responsible for obtaining and safeguarding all insurance information for all new and existing loans and ensuring the necessary insurance coverage is in force. This role supports the Bank’s “People First” focus and rules of engagement by maintaining a professional demeanor, working as an active member of the CNOB team, providing all clients excellent service, and always striving to make CNOB “A Better Place to Be”. The administrator will create, review, and revise policies and procedures for the day-to-day operations of the Bank’s insurance management program. They will review and monitor the insurance tracking process, exploring options for more tracking with Van Wagenen (VW) Insurance Services or other vendors as needed. This role also assists clients who have received letters from VW for insurance deficiencies. The administrator will review collateral, flood, and escrow records for accuracy and payment of insurance, and upload insurance renewals. They will review insurance disbursements for Hazard, Flood, and PMI (Private Mortgage Insurance), and review reports for Default of Insurance, Low Value policies, and policies with mortgagee clause deficiency. Additionally, the administrator will submit monthly FP Hazard premiums and charge loan accounts, and PMI remittance to United Guaranty Insurance and Mortgage Guaranty Insurance Corporation. They will review insurance cancellation notices and all new Certificates of Property Insurance with Loan Officers to ensure all requirements have been met and coverage is sufficient. The role also addresses insurance policies still in the name of UCNB, and handles inquiries by Administrators and Loan Officers for copies of current insurance policies.

Requirements

• Knowledge of lending and mortgage insurance.
• Knowledge of Hazard, Flood, Escrow, and Collateral.
• Knowledge of relevant Federal and State banking regulations.
• Excellent communication and interpersonal skills.
• Analytical skills to conduct evaluation of documents of varying complexity.

Nice To Haves

• Strong “People First” interest and ability.

Responsibilities

• Create, review, and revise policies and procedures of the day-to-day operations of the Bank’s insurance management program.
• Reviews and monitors the insurance tracking process, and regularly explores options for more tracking with Van Wagenen (VW) Insurance Services or other vendors as needed.
• Assists clients who have received letters from VW for insurance deficiencies.
• Reviews collateral, flood, and escrow records for accuracy and payment of insurance, and uploads insurance renewals.
• Reviews insurance disbursements for Hazard, Flood, and PMI (Private Mortgage Insurance).
• Reviews reports for Default of Insurance, Low Value policies, and policies with mortgagee clause deficiency.
• Submits monthly FP Hazard premiums and charge loan accounts, and PMI remittance to United Guaranty Insurance and Mortgage Guaranty Insurance Corporation.
• Reviews insurance cancellation notices and all new Certificates of Property Insurance with Loan Officers to ensure all requirements have been met and coverage is sufficient.
• Addresses insurance policies still in the name of UCNB, and inquiries by Administrators and Loan Officers for copies of current insurance policies.

Benefits

• World class health, vision, and dental benefits on day one
• 401k with employer match
• Hybrid work from home (depending on role)
• Employee appreciation events (team building, softball games, food truck days, etc..)
• Employee assistance programs (EAP)
• Wellness programs (flu shot, preventive care, health programs and services discounts, etc..)
• Tuition reimbursement
• Employee Discount perks
• CNOB Community Service Events

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed