Insurance & Loss Draft Analyst I

Insurance & Loss Draft Analyst I

The Insurance & Loss Draft Analyst I at CMG Financial is responsible for disbursing insurance premiums and loss draft funds, ensuring sufficient insurance coverage, processing lender placed insurance, and managing loss draft vendor processes.

This role requires significant industry experience and knowledge in escrow account management to ensure compliance with regulatory requirements and collaboration across departments.

Essential Duties and Responsibilities

• Track, monitor, and disburse insurance premiums for mortgage loans.
• Oversee loss draft funds and vendor processes.
• Ensure timely premium payments for lender placed hazard and flood insurance.
• Process reports and flood zone changes with vendors.
• Document system status updates and manage daily queues.
• Collaborate with departments to resolve cross-functional issues.
• Research and resolve exceptions and inquiries.
• Follow compliance with state, federal, and investor requirements.
• Manage interactions with insurance vendors and third parties.

Qualifications and Experience

Proven experience in insurance and loss draft processes, thorough knowledge of mortgage servicing industry standards and regulations, strong organizational skills, and proficiency in Microsoft Office.

Work Environment and Additional Information

Operates in an ADA compliant office environment with potential overtime during peak periods. CMG Financial offers a competitive hourly rate based on experience.

Key skills/competency

• Insurance
• Loss Draft
• Escrow
• Compliance
• Monitoring
• Disbursement
• Vendor Management
• Reporting
• Regulations
• Collaboration