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Job Description Position Title Government Insuring Specialist


									                                    Job Description

Position Title: Government Insuring Specialist              Grade:
Reports To: AVP, National Closing Manager                   FLSA: Non-Exempt

Position Overview:

Audit FHA and VA loans for submission to the appropriate government agency for
insurance or guaranty. The audit process should be accurate and accomplished in a
timely manner striving to submit loans prior to the first payment date. Timely and
accurate submission to the government agencies is crucial to keeping the financial risk
to the Corporation at a minimum.

Responsibilities and Duties:

   •   Responsible for audit process on entire loan, which includes credit and collateral
   •   Build loan in accordance with government agency requirements. This process
       requires that the Specialist is fully knowledgeable of the particular agency
       requirements and all process changes as the Department of Housing and Urban
       Development and the Department of Veterans Affairs publish them.
   •   Review all required documentation to ensure that all pertinent, critical information
       is correct.
   •   Pursue all missing documentation and correction of any inaccurate
       documentation. This requires a proactive stance in pursuing said documents
       from within the Corporation, third parties and borrowers.
   •   Update Government Insuring Application to reflect the status of the loan and
       document deficiencies identified. This requires the entry of all exceptions, dates
       and curative efforts.
   •   Follow up must be completed on each loan at least once per week to ensure that
       the loan will be submitted within 60 days from funding.
   •   FHA Specialists to complete all data input of key loan information into the FHA
       automated system – FHA Connection. During this process all information in
       Connection prior to Specialist input must be reviewed and updated if necessary.
   •   VA Specialists must review the VA Summary Sheet to ensure all information
       contained is accurate and complete as this document is crucial to the insurance
       of the loan. Specialists are also responsible to enter data from the loan summary
       sheet into VA’s WebLGY application
   •   Upon completion of audit, electronic case binders are saved to DocumentTrac
       Shared directory.
   •   FHA Specialist must utilize Government Insuring Application in conjunction with
       FHA Connection to determine if loans have been insured. Follow up on loans
       submitted more than one week must be initiated.
   •   VA Specialist must follow up on any VA loan with a submission date of over one
       week where the Loan Guaranty Certificate (LGC) has not been received. If the
       loan required manual submission to VA, follow up is completed in 2 weeks.
       Contact with the appropriate VA Regional office must be initiated.
                                                                           Revised 9/15/2008
   •   Specialist must respond immediately to any notification that loan has
       errors/omissions and will not be insured as is by HUD or the VA. All Notice of
       Rejections (NORs) from HUD or letters from the VA are to be addressed and
       errors/omissions corrected and package resubmitted within 5 days of receipt.
   •   Follow up on all delinquent loans must be done on a consistent basis in order to
       submit the loan immediately when payments become current.
   •   VA Specialist must provide audit packages to the requesting VA Regional Office
       within 1 day of request.
   •   Specialist must provide Team Leader and Department Supervisor with any and
       all information regarding issues that may be affecting productivity and ability to
       clear loan problems.
   •   Specialist must respond positively to all special projects as dictated by

Physical and Environmental Conditions:

Office environment, equipment and tasks, including work at a computer terminal which
requires repetitive keyboarding and data entry. Partial sitting and walking throughout the
day. Must be open to work overtime, as needed, to complete assigned tasks.

Preferred Qualifications

   •   2+ years in the mortgage industry with FHA/VA experience
   •   Prior experience in processing or closing is a plus
   •   Knowledge of mortgage documentation is required
   •   Familiarity with MS Office, Access and FHA Connection needed
   •   Must possess good judgment and problem solving skills
   •   Must have a working knowledge of computers and willing to learn new systems
       and programs
   •   Must be able to work overtime if needed
   •   Assists team members as needed, during times of peak volume and staff
   •   Ability to work in a fast paced environment
   •   Excellent Internal and External Customer Service
   •   Resourceful
   •   Be able to work as part of a team
   •   High level of integrity
   •   Adapts well to change
   •   Excellent verbal and written communication skills
   •   Self starter

                                                                          Revised 9/15/2008

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