Job Information
HomeStreet Bank Insurance Administrator, Commercial Real Estate (Hybrid - Brea, CA) in Seattle, Washington
Salary Range: $67,000.00 - $107,200.00 (Depending on knowledge, skills, abilities and location. Certain level jobs may be eligible for bonus, commission, and/or equity awards.) Posting Date: December 13, 2024 This job will be open and accepting applications for a minimum of three days from the date it was posted. Benefits* worth writing home about: Medical, dental, and vision coverage for employees and their families Life, disability and family Leave 401(k) and Roth 401(k) with employer match Wellness program, employee assistance program, "Commute Trip Reduction" (CTR) and various employee discounts Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work Free employee checking account and employee home loan discounts *For eligible employees averaging 20 or more hours per week. EO/AA Employer including Vets and Disabled. Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements. If you are a California resident, you may be entitled to certain rights regarding your personal information, which is information that identifies, relates to, or could reasonably be linked with a particular California resident or household. Additional information about our data collection practices and location specific notices is available on our privacy policy. California applicants may click this link Fair Chance Ordinance for Los Angeles County to see additional information. Job Description Summary: Role is responsible to administer CRE's Insurance Policy and Procedures related to the servicing of HSB's $3.6B portfolio of 900+/- Commercial Real Estate loans. Loan portfolio includes direct and brokerage originated loans, loans held for sale, loans serviced for HSB balance sheet and loans serviced for third party investors, including Fannie Mae Multifamily. Position directly and frequently interacts with a wide range of parties, including income property borrowers, insurance and title companies, investors, auditors, other lenders and multiple vendors. Position supports CRE Origination and Asset Management areas, including providing training in insurance industry related topics. Job Details: Primary Functions: Periodically review and revise CRE Insurance Requirements for all CRE offered loan programs. Monitor and remain current on regulatory and investor insurance requirements, including but not limited to Fannie Mae Multifamily insurance guidelines, Special Flood Hazard Area designations, National Flood Insurance Programs, and lender forced placed insurance (FPI) programs. Develop and implement training program for CRE Loan Servicers, Asset Managers, Underwriters and Closers regarding insurance related materials. Oversee third party consultants engaged to review insurance policies at loan origination for compliance at closing, including reporting, quality controls, vendor compliance and periodic audit in accordance with HSB vendor management protocols. Manage HSB contracts with flood zone certification vendors, including period review, quality controls and audit as needed. Directly manage loan specific insurance related issues, including coverage exceptions, waivers, flood zone discrepancies, and FPI coverage matters. Develop and maintain written procedures for the effective tracking of insurance related data, including policy coverages, exceptions, renewals and expiration dates. Develop and maintain written procedures regarding the insurance escrow analysis process, including establishing periodic changes to annual insurance premium escalation amounts as appropriate. Work closely with CRE Loan Servicers, Closers and Underwriters to ensure Insurance standards are maintained, including periodic audit of files. Assist Asset Managers in insurance claim related activities as needed. Perform other re