Senior Insurance And Escrow Specialist

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Job Type

Full-time

Description

The Senior Insurance and Escrow Specialist will assist the Senior Vice President of Loan Administration with the daily activities for the department.

Requirements

Essential Duties and Responsibilities:

• Verify adequate insurance coverage for collateral on newly closed loans.
• Conduct a monthly reconciliation of General Ledger for Escrow Accounts for LN & ML, Account Receivable Appraisal Fee, Appraisal Expense Fee and PMI Insurance.
• Send monthly wire transfer to MGIC Mortgage Guaranty Insurance Company for PMI Insurance payments.
• Check Escrow report for monthly escrow disbursement of Insurances and Property Taxes.
• Call insurance companies daily to provide renewed policies or invoices to pay insurances.
• Review Annual Escrow Analysis for LN & ML.
• Issue checks or Wire Transfers for Insurance payments and Property Taxes.
• Issue reimbursement checks and/or credit internal deposit account for Escrow surplus.
• Update new escrow payment and Disbursement, as well as Payee information in HORIZON system.
• Review escrow calculation for new loans.
• Monitor and track insurance policies for existing loans and ensure ticklers are updated in ABRIGO system.
• Maintain contact with OSC Insurance Company regarding the monitoring of insurances, e-mail copy of renewed insurance policies, cancellations, and reinstatement notices on daily basis.
• Issue check for force-placed insurance policies and enter alerts on HORIZON system.
• Advised Account's officer when loans are converting from Interest only to P & I and Escrow to collect initial escrow deposit as needed and run a preliminary escrow analysis.
• Answer calls from customers and Account Officers and Branch Personnel related to payments, insurance issues and taxes.
• Check folio numbers on websites for various counties to ensure the status of real estate property taxes; follow up and prepare delinquent taxes report.
• Check files after closing and prepare New Loan Form, e-mail to the OSC (Overby-Seawell) to monitor the insurances and track additional collateral on file that was not entered in HORIZON due to system limitations; prepare form for OSC with required coverage amount using the property and collateral codes assigned for that type of loan.
• Input on LERETA Tax Services' website the new loan with the collateral property; email confirmation print-out with the legal description from the mortgage or title commitment to the LERETA Tax Services to track if the new loan is commercial or residential and if the loan is escrow or non-escrow to allow tracking of whether the property taxes are being paid.
• Review report and reimbursement checks received from Lereta Tax Services, credit customer's account and notify Account's officers accordingly.
• Print a weekly Warning Report notifying all Officers that a loan's insurance is expired, or missing information and that force-place insurance will be issued to the loan for specific collateral.
• Call insurance companies weekly to provide renewed policies or status when the Warning Report is generated, to prevent force-placed insurance and issue the certificate.
• Back up for Verification of Mortgage and/or Verification of Loan Accounts.
• Review all correspondence/mail received from Mail Room for the Department and distribution of same.
• Handle special projects as assigned by Senior Vice President.
• Assist any area that needs help within the department.

Responsible for compliance with the following regulations (if applicable)

• Bank Secrecy Act (BSA)
• Anti- Money Laundering (AML)
• Office of Foreign Asset Control (OFAC)
• Know your Customer (KYC)
• Deposit related regulations (i. e. Reg. DD- Truth in Savings, Reg. E-Electronic Funds Transfer Act, etc.), as applicable
• Lending related regulations (I.e. Reg. B- Fair Lending, Reg. C-HMDA, Reg. Z- Truth Lin Lending Act, etc.), as applicable
• Community Reinvestment Act (CRA)
• Privacy
• Unfair, Deceptive, Abusive, Acts or Practices (UDAAP)

USCB Policies and Procedures: All officers and employees of the bank are to maintain an understanding of all USCB Policies and Procedures as outlined in the bank's shared drive. All employees are to follow said policies and procedures and report any knowledge of variance of the same.

Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be to enable individuals with a disability to perform the essential functions.

Language Skills: Ability to read, analyze, and interpret common business, banking, documents. Able to respond to common inquiries or complaints from customers or members of the business community. Ability to write reports and business correspondence conform to prescribed style and format, relate well with others, and quickly create a working rapport. Must have the ability to present information to management, employees, and customers.

Education and/or Experience: Bachelor's degree (B.A.) from a four-year college or university; or one to two years related experience and/ or training; or equivalent combination of education and experience.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to stand; walk; sit; use hands to finger, handle, or feel objects or controls; reach with hands and arms and talk or hear. The employee is occasionally required to stoop, kneel, crouch, or crawl.

The employee must frequently lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The work environment is a climate-controlled office setting where the noise level is usually moderate.

Work Habits: Include regular attendance, teamwork, initiative, dependability, and promptness.

Disclaimer: This job description is not employment agreement or contract. Management has the exclusive right to alter this job description at any time.

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