Insurance Rep

Position Title:  Insurance Representative

 

Job Description:

 

Under moderate supervision, issues disbursement of hazard/file and flood insurance premiums from the servicing system; monitors the ordering of lender-placed policies and the advancement of the premiums;  processes refunds upon cancellation of the lender-placed policies; assists clients with insurance disputes and claims; sets up claim pledge accounts and monitors the disbursements of the funds; maintains the centralized control of insurance problems and research and resolves any issues; assists with the annual impound analysis; monitors disbursement process to ensure that insurance premiums for impounded hazard/fire and flood insurance are issued in a timely manner; processes insurance loss claims; reviews estimate of loss; communicates First Fed’s policies and procedures to client; establishes pledge accounts; monitors repairs to properties and, with appropriate approvals, releases funds as repairs are completed; handles large and complex claims; responds to inquiries from our clients, insurance agents/carriers and our lender-placed provider both via telephone and written communications; assists clients and/or their agents in resolving any insurance-related disputes, researching as needed to obtain resolution; ensures data entry accuracy through established quality control guidelines of insurance documents; bills loans and controls proper disbursement of lender-placed fire and flood insurance premiums; processes returned premiums received upon cancellation of lender-placed insurance policies; researches account thoroughly and apply funds appropriately and timely; issues payment and maintains files on quotations for insurance policies obtained through the Bank’s court-appointed receivers; prepares monthly reconciliation of lender-placed premiums and lender-placed return premiums general ledgers; reviews the annual impound analysis exception reports as they pertain to insurance.

 

Experience:

 

Minimum of one (1) year direct real estate loan insurance experience.