Position: Insurance Processing Specialist
Location: Hillsboro, OH
Nature & Scope: The Insurance Processing Specialist is responsible to ensure all insurance processing is completed in a satisfactory manner, according to Bank policy, Investor requirements and Federal/State laws. Responsible for the tracking, maintaining, reconcilement, and payment of all types of insurance, to include hazard, flood, auto, boat, homeowner’s, force placed insurance, private mortgage insurance (PMI), HOA, loss drafts or other insurance as required. Position is required to pay all insurance premiums in a timely manner, verify adequate insurance coverage is in place based on collateral value and to keep the servicing system updated with current insurance information. The Insurance Processing Specialist will work with the Escrow Administrator/AML/Taxes to ensure taxes and AML processing is completed in a satisfactory manner, according to Bank procedures and policy, and Investor requirements and Federal/State laws. Other duties include Customer Service support for inquiries by internal database, phone, mail, faxes and email. To assist in the data verification of new loan mortgage/installment set up sheets and payoff statements.
- Disburse all escrowed insurance premiums when due, track all loans to make insure the insurance is current and updated on the core system when insurance information changes. Insure loans that are non-escrowed and delinquent on insurance are setup through ISIS with Force Placed Insurance and analyzed. Monitor all incoming insurance policies to insure proper coverage. This includes hazard, flood, auto, boat, homeowner’s, force placed insurance, private mortgage insurance (PMI), HOA, loss drafts or other insurance as required.
- Responsible for the monthly reconcilement of the PMI Insurance billing received from various PMI companies. Ensure PMI is terminated according to state and/or Federal Law, assisting customers who are seeking to cancel their PMI insurance and mailing all PMI disclosure notices in a timely manner. Also, responsible to maintain and work the expired weekly insurance list. And add new insurance companies to the core system as needed. Processing and tracking Loss Drafts.
- Provide additional support to the Escrow Administrator/AML/Taxes Specialist with AML and Taxes by paying taxes and processing AML’s:
- Protects NCB against tax liens by paying tax bills for real estate loans on a timely basis.
- Provides excellent customer service by responding promptly and courteously to escrow inquiries.
- Ensures accurate impounds of escrow by performing escrow analysis annually.
- Work closely with Core Logic Tax Service to add new loans to the database and to insure delinquent taxes for non-escrowed customers are paid.
- Provides Support in adjustable rate analysis by reviewing and analyzing adjustable rate notices for accuracy; ARM loans setup, correct rates changes, to include the flip of all interest only loans to a principle and interest payment, for first interest change date. Monitor and update index rates and answering customer inquiries.
- Assist with Customer Service inquiries via telephone, e-mail, and in person. Data verification of new loans and payoff request. Also, responsible for various internal database requests and to respond within required benchmarks. Provide monthly benchmark reporting as required.
- All other duties as assigned.
- Preferred Associate in Accounting or Business
- Preferred two years customer service banking experience
- Good working knowledge and experience associated with various insurance types and coverages for residential, commercial and consumer loans
- Knowledgeable with the compliance and investor requirements as it relates to insurance coverage for loans
- Must be proficient with Excel and Microsoft Word
- Strong communication and customer service skills and the ability to multitask
- Must be able to work independently and have strong analytical skills
If you would like to apply for this position, please submit your resume to firstname.lastname@example.org.