What are the responsibilities and job description for the Insurer position at Waterstone Mortgage?
SUMMARY: “Family-like culture” isn’t just a buzzword around here – it’s the truth. When you work at Waterstone Mortgage, you’re part of an organization that cares!
We are looking for an experienced Insurer to join our team (remote, hybrid, or in person) and contribute to our family-like culture! The Insurer is responsible for reviewing all Government loan types, specifically FHA, VA and USDA loans for compliance with Agency requirements and obtaining the guaranty in a timely fashion.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Review the “FHA/VA to be Insured” report to determine the order in which to insure the current backlog.
- Review the credit and closing packages based on the HUD, VA, and USDA checklist depending on the loan type.
- Address deficiencies in the documents that are required by HUD, VA, and USDA in order to successfully insure each loan.
- Contact HUD, VA and USDA directly to address issues with insuring.
- Transfer FHA Case Numbers as necessary
- Review the Insuring Tracking report and follow up on deficiencies to ensure loans are insured timely.
- Insure loans directly on FHA Connection, VA Portal, and USDA LINC system as appropriate depending on the loan type.
- Upload files to Catalyst if required by HUD.
- Complete data entry in Encompass so that reporting is accurate.
- Upload copies of the MIC, LNG and LGC into Encompass after loans are insured.
- Prepare HUD technical review packages and provide to the Underwriting department for review before being sent to HUD.
- Deliver MIC, LGC, or LNG to Investors as required.
- Maintain the standard set of 7 files worked per day.
- Ensure that all government loans are worked and insured within 2 weeks from funding or as determined by management.
- Pull Department Reports including the Loans to be Insured, Insuring Tracking and FHA Loans Insured Last Week report.
ADDITIONAL DUTIES:
- Complete any additional duties assigned by management.
- Complete regulatory and compliance training, as required.
- Assist WMC employees and departments as needed.
QUALIFICATIONS: 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 ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE: High school diploma or general education degree (GED) and one-three years of mortgage loan experience or experience in a related industry is required. Encompass and Government Insuring experience preferred.
COMPUTER SKILLS: Proficient in Microsoft Office (i.e. Word, Excel, PowerPoint, Outlook). Previous experience with Encompass LOS is preferred.
LANGUAGE SKILLS: Good grammar and diction are required. Ability to read and comprehend instructions, write correspondence and memorandums is required. Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization is required.
MATHEMATICAL SKILLS: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals is required. Ability to compute rate, ratio, and percent in practical situations is required.
CUSTOMER SERVICE SKILLS: Using excellent customer service skills which includes maintaining a good attitude, taking ownership of meeting customer needs, going above and beyond for customers, demonstrating a commitment to sharpening skills through education and training, using positive communication, and looking for opportunities to respect customers’ time and schedules is required.
REASONING ABILITY: Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists is required. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form is required.
Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)