Government Insurer
Company Description
OCMBC, Inc. is a trusted leader in the mortgage lending industry, offering a comprehensive range of services across Wholesale, Retail, Commercial, and Correspondent channels. With over 30 years of mortgage banking experience, the company is known for its exceptional products, dependable service, and innovative solutions tailored to meet the evolving needs of its partners. Supported by a team of seasoned professionals, OCMBC adapts to the dynamic lending environment, helping real estate and mortgage professionals expand their offerings and close more deals. Committed to trust, knowledge, and innovation, OCMBC is continuously evolving to provide standout services in the mortgage industry.
Role Description
This is a full-time remote role for a Government Insurer at OCMBC, Inc. The Government Insurer virtually stacks and audits FHA Case Binders in preparation for submission to FHA Home Ownership Centers for the purpose of obtaining Mortgage Insurance Certificates (MIC's). Accurately audits loan files for compliance with internal policies and procedures as well as Investor and regulatory guidelines prior to delivery to the end investor. Prepares, reviews and submits insurance applications to the appropriate government agency (HUD, VA, USDA).
Qualifications
• Gathering required exhibits from imaging system and virtually arranging the images in FHA Case Binder order.
• Auditing the FHA Case Binder images using OCMBC checklists, job aids and industry experience.
• Completing appropriate screens in FHA Connection.
• Uploading MIC's to OCMBC’s LOS.
• Meeting and Maintaining volume and quality standards for the Insuring Department.
• Seeking experienced Subject Matter Experts who can adapt to a virtual work environment.
• Perform post-funding audit of loan files (including credit and closing packages) to ensure compliance with policies and procedures as well as investor and regulatory agency guidelines.
• Ensure data integrity within post-closing systems.
• Submit Insurance Applications to Federal Regulatory Agencies such as VA, USDA and HUD using web-based applications like WEBLGY, USDALINC and FHA Connection.
• Escalate loans within allotted timeframe that may not be FHA compliant or cannot be endorsed within 48 hours of initial audit review date.
• Validate compliance with RESPA and TILA guidelines by performing a detailed audit on CD (Closing Disclosure) to ensure that all fees have been properly disclosed and paid to the appropriate parties in the transaction.
• Perform complex calculations to identify under-disclosures and non-allowable fees and facilitate reimbursements to borrowers via check or wire request when applicable.
• Calculate VA Funding Fee/ USDA Guarantee Fee in accordance with VA/ USDA eligibility requirements and facilitate reimbursements or collect shortages as applicable.
• Calculate mortgage insurance premiums in accordance with FHA, VA and USDA guidelines as applicable, and facilitate payments, reimbursements or collect shortages as applicable
• Document errors and/or missing items in the system, send out notification to operations staff and mangers to address any failed items on checklist and follow through to ensure timely receipt.
• Performs other miscellaneous functions as needed including but not limited to condition follow up, data/ trend reporting and investor deficiency support.
• Responding to Notices or Rejection (NOR’s) and PETR’s (Tech Review Deficiencies(FHA/VA) when applicable.
• Performs other duties as assigned.
• This position is not eligible for telecommuting.
Compensation:
• Hourly position $25-$35 depending on experience
• 100% paid vision & dental, and a discount rate for family employee benefits after they meet 90 days of probation.
• Flexible schedule.
• 401K matching
• 8 working holidays closed
OCMBC, Inc. is a trusted leader in the mortgage lending industry, offering a comprehensive range of services across Wholesale, Retail, Commercial, and Correspondent channels. With over 30 years of mortgage banking experience, the company is known for its exceptional products, dependable service, and innovative solutions tailored to meet the evolving needs of its partners. Supported by a team of seasoned professionals, OCMBC adapts to the dynamic lending environment, helping real estate and mortgage professionals expand their offerings and close more deals. Committed to trust, knowledge, and innovation, OCMBC is continuously evolving to provide standout services in the mortgage industry.
Role Description
This is a full-time remote role for a Government Insurer at OCMBC, Inc. The Government Insurer virtually stacks and audits FHA Case Binders in preparation for submission to FHA Home Ownership Centers for the purpose of obtaining Mortgage Insurance Certificates (MIC's). Accurately audits loan files for compliance with internal policies and procedures as well as Investor and regulatory guidelines prior to delivery to the end investor. Prepares, reviews and submits insurance applications to the appropriate government agency (HUD, VA, USDA).
Qualifications
• Gathering required exhibits from imaging system and virtually arranging the images in FHA Case Binder order.
• Auditing the FHA Case Binder images using OCMBC checklists, job aids and industry experience.
• Completing appropriate screens in FHA Connection.
• Uploading MIC's to OCMBC’s LOS.
• Meeting and Maintaining volume and quality standards for the Insuring Department.
• Seeking experienced Subject Matter Experts who can adapt to a virtual work environment.
• Perform post-funding audit of loan files (including credit and closing packages) to ensure compliance with policies and procedures as well as investor and regulatory agency guidelines.
• Ensure data integrity within post-closing systems.
• Submit Insurance Applications to Federal Regulatory Agencies such as VA, USDA and HUD using web-based applications like WEBLGY, USDALINC and FHA Connection.
• Escalate loans within allotted timeframe that may not be FHA compliant or cannot be endorsed within 48 hours of initial audit review date.
• Validate compliance with RESPA and TILA guidelines by performing a detailed audit on CD (Closing Disclosure) to ensure that all fees have been properly disclosed and paid to the appropriate parties in the transaction.
• Perform complex calculations to identify under-disclosures and non-allowable fees and facilitate reimbursements to borrowers via check or wire request when applicable.
• Calculate VA Funding Fee/ USDA Guarantee Fee in accordance with VA/ USDA eligibility requirements and facilitate reimbursements or collect shortages as applicable.
• Calculate mortgage insurance premiums in accordance with FHA, VA and USDA guidelines as applicable, and facilitate payments, reimbursements or collect shortages as applicable
• Document errors and/or missing items in the system, send out notification to operations staff and mangers to address any failed items on checklist and follow through to ensure timely receipt.
• Performs other miscellaneous functions as needed including but not limited to condition follow up, data/ trend reporting and investor deficiency support.
• Responding to Notices or Rejection (NOR’s) and PETR’s (Tech Review Deficiencies(FHA/VA) when applicable.
• Performs other duties as assigned.
• This position is not eligible for telecommuting.
Compensation:
• Hourly position $25-$35 depending on experience
• 100% paid vision & dental, and a discount rate for family employee benefits after they meet 90 days of probation.
• Flexible schedule.
• 401K matching
• 8 working holidays closed