Commercial Loan Insurance Specialist
2 months ago
At US Tech Solutions, Inc., we are seeking a highly skilled Commercial Loan Insurance Specialist to join our team. As a key member of our organization, you will be responsible for ensuring the timely and efficient protection of investor interests in commercial mortgage loans.
Key Responsibilities:- Insurance Analysis: Review, analyze, and interpret all types of property and liability insurance policies, operating statements, and property appraisals for commercial loans to ensure compliance with loan documents, investor requirements, and internal policies and procedures.
- Insurance Premium Management: Manage and ensure the data contained in the servicing system is updated to reflect the current status regarding insurance policy effective dates and coverage amounts.
- Disbursement of Insurance Premiums: Monitor and manage the disbursement of payment of all insurance premiums for commercial mortgage loans for which there are escrow funds being held and any force place insurance premiums.
- Insurance Documentation: Monitor and collect the necessary documentation to determine that all non-escrowed loans have adequate insurance policies in force.
- Forced Place Insurance: Initiate and oversee any forced place insurance coverage that is required due to inaction of the borrower.
- Casualty Losses: Oversee and administer all casualty losses incurred on commercial properties, including analyzing the severity of the loss, arranging property inspections, and processing disbursement requests from the loss proceeds.
- Communication: Correspond, either verbally or in writing, as necessary with borrowers, insurance agents, and insurance companies to resolve any issues or discrepancies related to insurance.
- Minimum Qualifications: Minimum two-years broad-based commercial property insurance or related experience or Four-year college degree.
- Legal Document Review: Legal document review and interpretation experience.
- Commercial Property Insurance: Extensive knowledge of the various types of commercial property insurance policies.
- Communication Skills: Excellent verbal and written communication skills.
- Commercial Loan Servicing Experience: Commercial loan servicing experience.
- Commercial Insurance Agency Experience: Commercial insurance agency or insurance carrier work experience.
- McCracken/Strategy Loan Servicing System Experience: Experience with McCracken/Strategy loan servicing system.
- Technical Skills: Efficient in the use of word processing and spreadsheet software, such as Word and Excel.
- Interpersonal Skills: Ability to multi-task effectively, function in a deadline-driven environment, prioritize responsibilities, work in a team environment, motivate others, manage change, and foster teamwork.
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