PMI Specialist

UWM•Pontiac, MI

About The Position

The PMI Specialist is responsible for the accurate and timely administration of Private Mortgage Insurance (PMI) on residential mortgage loans. This includes monitoring loans for PMI requirements, ensuring timely cancellation or termination of PMI in compliance with investor and regulatory guidelines, and maintaining proper documentation. The role requires excellent attention to detail, knowledge of mortgage servicing practices, and the ability to work cross-functionally with other departments and external stakeholders. WHAT YOU WILL BE DOING Monitor loan portfolios for PMI eligibility, activation, and cancellation in accordance with federal regulations (e.g., Homeowners Protection Act of 1998) and investor guidelines (Fannie Mae, Freddie Mac, FHA, etc.). Process PMI cancellation or termination requests from borrowers and ensure compliance with internal policies and regulatory requirements. Perform monthly PMI audits and reconciliations, correcting discrepancies and ensuring accurate reporting. Coordinate with PMI providers to obtain certificates, update insurance coverage, and resolve payment or coverage issues. Maintain accurate PMI data in servicing systems, including LTV calculations, property values, and insurance premium payments. Respond to internal and external inquiries related to PMI in a timely and professional manner. Assist in developing and maintaining procedures and training materials related to PMI functions. Generate PMI-related reports for management and regulatory review. Stay up to date with changes in PMI laws, investor requirements, and servicing best practices.

Requirements

High school diploma or equivalent; Associate’s or Bachelor’s degree in finance, accounting, or related field preferred.
2+ years of experience in mortgage servicing, with direct experience in PMI management preferred.
Knowledge of mortgage servicing systems (e.g., MSP, Black Knight, etc.) and PMI processes.
Familiarity with federal regulations and investor guidelines relating to PMI.
Strong analytical skills and attention to detail.
Excellent communication and customer service skills.
Proficient in Microsoft Office, particularly Excel and Word.

Nice To Haves

Experience working with PMI vendors or insurers.
Knowledge of escrow analysis and mortgage insurance disbursements.

Responsibilities

Monitor loan portfolios for PMI eligibility, activation, and cancellation in accordance with federal regulations (e.g., Homeowners Protection Act of 1998) and investor guidelines (Fannie Mae, Freddie Mac, FHA, etc.).
Process PMI cancellation or termination requests from borrowers and ensure compliance with internal policies and regulatory requirements.
Perform monthly PMI audits and reconciliations, correcting discrepancies and ensuring accurate reporting.
Coordinate with PMI providers to obtain certificates, update insurance coverage, and resolve payment or coverage issues.
Maintain accurate PMI data in servicing systems, including LTV calculations, property values, and insurance premium payments.
Respond to internal and external inquiries related to PMI in a timely and professional manner.
Assist in developing and maintaining procedures and training materials related to PMI functions.
Generate PMI-related reports for management and regulatory review.
Stay up to date with changes in PMI laws, investor requirements, and servicing best practices.

Benefits

Paid Time Off (PTO) after just 30 days
Additional parental and maternity leave benefits after 12 months
Adoption reimbursement program
Paid volunteer hours
Paid training and career development
Medical, dental, vision and life insurance
401k with employer match
Mortgage discount and area business discounts
Free membership to our large, state-of-the-art fitness center, including exercise classes such as yoga and Zumba, various sports leagues and a full-size basketball court
Wellness area, including an in-house primary-care physician’s office, full-time massage therapist and hair salon
Gourmet cafeteria featuring homemade breakfast and lunch
Convenience store featuring healthy grab-and-go snacks
In-house Starbucks and Dunkin
Indoor/outdoor café with Wi-Fi