Mortgage Insuring Specialist

Plains Commerce Bank • Sioux Falls, SD

6d

About The Position

Mortgage Insuring Specialist Position Purpose: Managing the post-closing insurance processes for all loan products that insurance is required for. This role ensures that all mortgage loans meet the necessary insurance requirements, including Conventional, FHA, VA and RD insuring, and are properly registered with the Mortgage Electronic Registration System (MERS). This involves coordinating with various departments, lenders, and insurance entities to secure and verify insurance coverage. Qualities of the successful candidate include: High School diploma or general education degree (GED) is required. Post-secondary education is helpful. Prior accounting, secretarial and/or bank lending experience is helpful. Must be a mature, responsible individual with a professional appearance, be dependable and take pride in their work. Attention to detail is a must in this position. General PC knowledge and the Internet is required, must be capable of accurate typing, and learning various computer software programs. Familiarity with loan documentation requirements is helpful; however, detailed knowledge is not a mandatory prerequisite. Must enjoy helping customers and fellow employees. Must be trustworthy and maintain a high level of confidentiality. Must be able to multi-task and work under stress and pressure. Must be able to communicate effectively, get along with co-workers and deal with colleagues effectively and professionally.

Requirements

• High School diploma or general education degree (GED) is required.
• Must be a mature, responsible individual with a professional appearance, be dependable and take pride in their work.
• Attention to detail is a must in this position.
• General PC knowledge and the Internet is required, must be capable of accurate typing, and learning various computer software programs.
• Must enjoy helping customers and fellow employees.
• Must be trustworthy and maintain a high level of confidentiality.
• Must be able to multi-task and work under stress and pressure.
• Must be able to communicate effectively, get along with co-workers and deal with colleagues effectively and professionally.

Nice To Haves

• Post-secondary education is helpful.
• Prior accounting, secretarial and/or bank lending experience is helpful.
• Familiarity with loan documentation requirements is helpful; however, detailed knowledge is not a mandatory prerequisite.

Responsibilities

• Conventional, FHA, VA and RD Insuring: Review closed loan files to ensure they meet Conventional, FHA, VA and RD insurance requirements.
• Review conventional closed loan files and activate insurance on the coordinating MI company website.
• Pay upfront premiums on any Government loan required prior to activation.
• Prepare and submit insurance applications to FHA and VA for mortgage insurance, and guaranty.
• Manage any corrections as needed with the appropriate Agency.
• Ensure accurate and timely registration of mortgage loans with the Mortgage Electronic Registration System (MERS).
• Update MERS with any changes to the loan status or servicing rights.
• Reconcile MERS reports to ensure all loans are correctly registered and any discrepancies are resolved promptly.
• Ensure all insurance policies and registrations comply with federal, state, and investor guidelines.
• Maintain up-to-date knowledge of Conventional, FHA, VA, RD and MERS regulations and requirements.

Benefits

• Medical, Dental and Vision
• FSA or Dependent Care
• Supplemental Accident, Hospital, or Critical Illness Plans
• Employer paid Life Insurance, Short Term Disability, and Long-Term Disability
• Additional Voluntary Life Insurance Options
• Paid Vacation, Sick and Volunteer leave
• 401K and Profit Sharing
• Compensation for positions is based on the specific position and may be paid in the form of an hourly wage, a semi-monthly salary, commissions, or a combination of them. Depending on the specific position, some may be paid solely on commissions or others may include a bonus structure.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED