The Insurance Specialist - Special Products is responsible for ensuring all required insurance coverage(s) are in place at appropriate limits to demonstrate compliance with investor requirements, as they apply to all assigned Special Product loans. The Special Product portfolio is comprised of Arbor Private Label, Single Family Rentals (SFRs), Built-to-Rent (BTRs), and other specialized loan product types.

Essential Job Functions (Duties/Responsibilities)

This position will have the following duties and responsibilities, including but not limited to:

• Efficient review of commercial insurance policies, effectively communicating exceptions to agents and borrowers, and working collaboratively towards swift resolution of issues.
• Thorough review of Loan Agreements, Appraisals, Engineering, Seismic, and Environmental reports to determine loan-specific information relative to insurance requirements.
• Process and review insurance for loans involved in securitization and loan sales. This includes reviewing the insurance in place to verify coverage meets the requirements outlined in the Due Diligence Questions and Representations & Warranties provided by the Master Servicer and the timely identification and resolution of any exceptions.
• Serve as a point of contact for Structured Asset Management and Underwriters to assist with questions as they pertain to insurance, to guide them through potential exceptions and availability of waivers, where requested.
• Provide internal and external customers with a noteworthy experience by developing meaningful relationships with agents/brokers and borrowers on all assigned accounts.
• Identify and communicate insurance related issues and trends in a clear, confident, and consistent manner, with borrowers, agents, and portfolio management.
• Develop & maintain an enhanced working knowledge of all investor insurance guidelines, including Freddie Mac, Fannie Mae, HUD/Ginnie Mae, and Special Products (as outlined in the loan agreement)
• Perform annual review of insurance coverages by reviewing policies including all schedules and endorsements, invoices, and/or declaration pages and certificates to determine compliance.
• Ensure timely follow up and resolution of all exception items.
• Draft and file insurance waivers with supporting documentation on non-compliant insurance issues, where risk can be reasonably mitigated.
• Communicate with all applicable parties regarding any lender placed insurance issues and process application for lender placement of insurance where necessary.
• Collaborate with Structured Asset Management to monitor the insurance on all construction and Build-to-Rent (BTR) loans, ensuring the appropriate third-party liability coverage is in place where necessary and timely proof of permanent coverage is acquired once permission to occupy is received.
• Update and maintain all insurance information and documentation within Arbor servicing systems.
• Assist with insurance related reporting to investors and auditors.
• Assist Asset Management team at Arbor with insurance claims issues as needed.
• Complete a formal insurance review of all new loans and finalize onboarding of insurance information.
• Perform exposure analysis and density mapping of all blanket policies, in a matter sufficient to meet lender guidelines.
• Process and review insurance endorsements and notices of cancellation and non-renewal

Qualifications

Education: High school diploma or equivalent; Associate's or Bachelor's degree in business, Finance, or a related discipline or equivalent work experience preferred.

Experience: 3+ years' experience in Commercial Lines Insurance, Mortgage Servicing, or Escrow.

Knowledge/Skills/Abilities:

• Knowledge of Commercial Insurance Coverage –Property, (including Flood, Wind, Earthquake and Terrorism), General Liability (including Workers Comp and Auto), Professional Liability and Umbrella/Excess Liability Insurance
• Superior ability to read commercial insurance policies, including master programs, multi-layer, non-admitted policy forms and accurately determine the coverage provided therein.
• Critical thinking skills to develop insurance solutions, and/or design creative, compliant solutions to resolve exceptions.
• Outstanding verbal, written, and interpersonal communication skills
• Ability to work as a part of a team, while providing a strong individual contribution
• Excellent attention to detail, judgment, flexibility, accountability, and dependability
• Strong time management and organizational skills for prioritizing multiple assignments.
• Demonstrated understanding of Special Product lines
• Intermediate Microsoft Office skills

Travel: None

We are proud to be an equal opportunity employer and are committed to maintaining a diverse workforce and an inclusive work environment for our associates, customers and business partners. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability, ethnicity, pregnancy or any other legally protected status. We are committed to working with and providing reasonable accommodations to individuals with disabilities.