Under the direction of the Operations Manager, the Insuring Specialist is responsible for the daily tasks associated within the Insuring Department. The Insuring Department ensures timely insurance payments, verifies accurate documentation, and the issuance of insurance within the government agencies: Federal Housing Administration (FHA), Veterans Affairs (VA), and United States Department of Agriculture (USDA).
Responsibilities include but are not limited to the following:
- Review (pre-audit and post-audit) FHA, VA, and USDA files in a timely manner for completeness and accuracy·
- Timely payment of UFMIP, VA Funding Fees, and USDA MIP fee’s·
- Track and monitor the eligibility dates for all files to be sent for insuring or review.
- Updating Loan Originating System with all communications (phone calls, emails, etc.) on the status.
- Communicate professionally when notifying appropriate party as to documentation required for completion. Reviews and clears documentation received on incomplete loans.
- Corrects deficiencies and communicates with appropriate government agency to resolve issues.
- Insures FHA loans online by updating FHA Connection and completing the appropriate insuring screens to obtain MIC.
- Guarantees VA loans online by updating the VA portal and completing the appropriate screens.
- Submits loan note guarantees on USDA loans to the appropriate investor.
- Prepare and send any all insuring packages as request by government agency for audit requests and tracks loan progressions until they are approved and cleared.
- Review each for file and make sure it meets all guidelines and procedures before submitting for audit.
- Deliver and track all files after submission for issuance of the certificate.·
- Transfer servicing for all insured sold loans in a time frame requirements.
- Follow up regularly on all outstanding suspense items, updating system comments, reporting overdue items to management.
- Respond and maintain email communication in a timely manner within the department email box.
- Maintain current knowledge of Agency requirements.
- Submit suggestions for changes in procedures, automation and forms to increase department efficiency and accuracy.
- Adheres to standards consistent with company policies and procedures.
- Engages in frequent interdepartmental communications for assistance in obtaining information required to be within FHA/VA guidelines.
- Reports to management any internal or external issues that could adversely impact the fulfillment of required duties.
- Performs other duties and projects as assigned by management.
- Demonstrated communication and organizational skills.
- Proficiency in various computer software programs including: Microsoft Office (Excel, Word, Outlook), database management and other business applications.
- Ability to work independently with little or no supervision.
- Maintain confidentiality of employee and company information.
- Demonstrate appropriate follow-through on requests by managers/supervisors.
- Detail orientation.
- Excellent Customer Service focus.
- Conducts work and personal interactions in a professional manner.
- Minimum of 3-5 years in the mortgage industry or related industry.
- Government insuring experience preferred.
- High school or equivalent required.
- One year of education beyond high school preferred.