Extensive knowledge of the various types of commercial property insurance policies
Commercial insurance agency and/or servicing work experience
Insurance compliance background including, but not limited to, coverage discrepancies, industry standards and government regulations
Insurance certifications and/or designations such as CIC, ARM, AU, CLCS, CPCU
Commercial multifamily insurance compliance background relating to FNMA, FHLMC and FHA/GNMA
Prior commercial real estate loan servicing experience
Responsibilities
Review, analyze and interpret all types of property and liability insurance policies for commercial real estate loans to ensure compliance with loan documents, investor requirements, government regulations (Fannie Mae, Freddie Mac and FHA/Ginnie Mae) and internal policies and procedures
Review replacement cost and loss of income calculations for commercial real estate insurance policies to ensure compliance with loan documents and investor guidelines
Complete Blanket Analysis as required
Review casualty losses incurred on commercial properties and advise internal and/or external clients regarding insurance coverage and loss proceed requirements relating to those casualties
Correspond, as necessary, with borrowers, insurance agents, and insurance companies to resolve any loan compliance issues or discrepancies related to insurance
Subject matter expert who can be a resource for other associates relating to insurance and resolve insurance related discrepancies
Monitor the insurance process and ensure that proper insurance coverage is in place for the commercial real estate properties securing loans serviced by the department as required by the loan documents, investor requirements, government regulations and internal policies and procedures