Escrow Hazard Insurance Specialist II

October 27

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LoanCare

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Finance • B2C • Real Estate

LoanCare is a company that specializes in the servicing of mortgage loans. It provides a range of services related to managing mortgage payments, customer service for loan holders, and loss mitigation strategies. LoanCare aims to support homeowners in maintaining their mortgage accounts effectively, ensuring timely payments and managing any potential financial challenges.

1001 - 5000 employees

💸 Finance

👥 B2C

🏠 Real Estate

📋 Description

• Monitor third party insurance vendor to ensure insurance bills are paid timely in accordance with all guidelines. • Work in conjunction with the third party insurance vendor to ensure adequate coverage is held on all properties both escrowed and non-escrowed. • Ensure the proper processing of forced placed insurance in the event the borrowers fail to provide proof of insurance coverage. • In accordance with investor guidelines, monitor coverage amount requirements for both Hazard and Flood insurance. • Work with insurance vendor to identify and send letters on loans that have become first time vacancies. • Request property inspections on loans that are pending claims. • Deposit insurance refunds and research pending items. • Request/monitor approvals to pay insurance on loans with disbursement stops. • Maintain compliance on all Loss Draft procedures with regards to releasing held funds for repairs. • File and monitor hazard insurance claims on foreclosure loans. • Deposit insurance refunds and loss draft proceeds into the system of record. • Ensure that third party vendor is tracking all loss draft claims and inspections are being ordered to release funds. • Processing and payment of Optional Insurance Products. • Handle customer issues related to insurance via phone calls or written correspondence. • Assist with payment of PMI/MIP payments when needed. • All other duties as assigned.

🎯 Requirements

• High School Diploma or equivalent required • Associates Degree Preferred • 2 to 3 years of experience in mortgage loan servicing (insurance company, escrow department, accounts payable, accounting clerk or similar role may be acceptable) or an equivalent combination of education and experience. • Ability to work independently, successfully prioritize multiple functions and meet deadlines. • Capable problem solver with an analytical mind set and excellent organizational skills. • Possess good written and verbal communication skills. • Positive attitude and a customer first focus. • Data entry and 10 key calculator skills required. • Practical and functional computer knowledge to include Excel, Word, Email and internet research. • Open and receptive to change and must have the ability to operate in a fast paced environment.

🏖️ Benefits

• Health & Welfare Coverage: Optional medical, dental, vision, life, and disability insurance • Time Off: Paid holidays, vacation, and sick leave • Retirement & Investment: Matching 401(k) plan and employee stock purchase plan • Wellness Programs: Access to mental health resources, including free Calm memberships, and initiatives that promote physical and emotional well-being • Employee Recognition: Programs that celebrate achievements and milestones • Lifestyle & Learning Perks: Enjoy discounts on gym memberships, pet insurance, and employee purchasing programs, plus access to a tuition reimbursement program that supports your continued education and professional growth.