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Collateral Protection Insurance Jobs in Illinois

Servbank, sb Inc.

Claims Specialist I

Watseka, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank, sb Inc.

Claims Specialist I

Savoy, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Bourbonnais, IL · On-site

$55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Danville, IL · On-site

$55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Oswego, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Hoopeston, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Savoy, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Bourbonnais, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Savoy, IL · On-site

$55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank, sb Inc.

Claims Specialist I

Champaign, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank, sb Inc.

Claims Specialist I

Danville, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Watseka, IL · On-site

$55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Danville, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank, sb Inc.

Claims Specialist I

Hoopeston, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Champaign, IL · On-site

$55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Servbank

Claims Specialist I

Oswego, IL · On-site

$47K - $55K/yr

The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit ...

Aon

Broker II, National Casualty

Chicago, IL

$78K - $103K/yr

Insurance program structure planning and design of alternatives. * Prepare all marketplace ... Comparison to include changes in exposures, losses, collateral, coverage terms and conditions and ...

Aon Corporation

Broker II, National Casualty

Chicago, IL · On-site

$78K - $103K/yr

Insurance program structure planning and design of alternatives. * Prepare all marketplace ... Comparison to include changes in exposures, losses, collateral, coverage terms and conditions and ...

Axos Bank

VP, Commercial Underwriter

Lombard, IL · On-site

$120K - $170K/yr

Ensure collateral perfection under UCC Article 9, including UCC filing and search requirements ... Medical, Dental, Vision, and Life Insurance * Paid Sick Leave, 3 weeks' Vacation, and Holidays ...

Manulife

Investment Officer

Chicago, IL · Hybrid

This includes market analysis, collateral appraisal, underwriting, and structuring. * Marketing and ... Protection I Right to Work I E-Verify Company: John Hancock Life Insurance Company (U.S.A.

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All JobsCollateral Protection Insurance JobsCollateral Protection Insurance Jobs in Illinois

Collateral Protection Insurance information

What is the difference between Collateral Protection Insurance vs Insurance Adjuster?

AspectCollateral Protection InsuranceInsurance Adjuster
CredentialsTypically requires licensing or certification in insuranceRequires state licensing and adjuster certification
Work EnvironmentOffice, field inspections, claims processingField inspections, claims assessment, office work
Employer & IndustryInsurance companies, lenders, auto dealershipsInsurance companies, independent agencies
Search & Comparison IntentUnderstanding coverage for financed assetsEvaluating claim adjustments and settlement processes

Collateral Protection Insurance focuses on insuring financed assets like vehicles, often used by lenders. Insurance Adjusters assess claims and determine payouts. While both roles involve insurance, they serve different functions within the industry.

What is Collateral Protection Insurance (CPI)?

Collateral Protection Insurance (CPI) is a type of insurance policy that lenders purchase to protect themselves against loss or damage to property used as collateral for a loan, such as vehicles or real estate, when the borrower fails to maintain adequate insurance. If a borrower’s insurance lapses or is insufficient, the lender may buy CPI and charge the premium to the borrower. This coverage ensures the lender’s financial interest is safeguarded, but it may not provide the same coverage or benefits as standard borrower-acquired insurance.

What are some common challenges faced by professionals working in Collateral Protection Insurance (CPI) and how can they be addressed?

Professionals in Collateral Protection Insurance often encounter challenges such as managing high volumes of policy tracking, dealing with incomplete borrower information, and ensuring regulatory compliance. Overcoming these obstacles requires strong organizational skills, proficiency with specialized CPI software, and effective communication with lenders and borrowers. Staying updated on industry regulations and participating in ongoing training can also help professionals navigate these complexities and deliver excellent service.

What are the key skills and qualifications needed to thrive as a Collateral Protection Insurance Specialist, and why are they important?

To thrive as a Collateral Protection Insurance Specialist, you need a solid understanding of insurance principles, financial regulations, and risk assessment, often supported by a degree in finance, business, or a related field. Familiarity with insurance management software, loan servicing platforms, and relevant certifications such as an insurance license are typically required. Outstanding attention to detail, analytical thinking, and strong communication skills help professionals excel when analyzing policies and interacting with clients or stakeholders. These skills ensure accurate policy administration, regulatory compliance, and effective risk mitigation for lenders and their clients.
What are popular job titles related to Collateral Protection Insurance jobs in Illinois? For Collateral Protection Insurance jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Collateral Protection Insurance jobs in Illinois look for? The top searched job categories for Collateral Protection Insurance jobs in Illinois are:
What cities in Illinois are hiring for Collateral Protection Insurance jobs? Cities in Illinois with the most Collateral Protection Insurance job openings:
Collateral Protection Insurance jobs near you

Claims Specialist I

Servbank, sb Inc.

Watseka, IL • On-site

$47K - $55K/yr

Other

Posted yesterday

Job description

Description

Claims Specialist I is responsible for preparing, filing and following up on all FHA, USDA, VA, FNMA, FHLMC, VA, MI, and investor claims timely and accurately according to investor/insurer guidelines. They must perform all tasks associated with the claims process, from initial claims filing to final loan liquidation. The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit loan related expenses.


About Servbank:

Founded in 1994, Servbank is a banking institution with local roots and national reach. We were built on a foundation of community-orientation, which ensures that no matter who we serve, we do so with the human touch that marks the gold standard of service. We work with individuals, businesses, and communities, so that whether you're a student, a homeowner, a small business owner, or a community leader, we can help you fulfill your goals. Come create excellence with Servbank.


Duties and Responsibilities

  • Prepare, submit, and track FHA, VA, USDA, FNMA, FHLMC, PMI, and investor claims accurately and within required timeframes.
  • Perform detailed loan-level reconciliations comparing amounts claimed, amounts paid, and outstanding indebtedness (including escrow and corporate advances).
  • Prepare and submit supplemental claims as necessary, coordinating with foreclosure, loss mitigation, and bankruptcy teams to obtain required documentation.
  • Partner with the Escrow Department to verify taxes and insurance are maintained, paid timely, and canceled or endorsed in accordance with investor and insurer requirements.
  • Document all claim-related activity accurately and thoroughly within the Claims Pipeline Sharepoint.
  • Conduct timely audits of assigned claims to validate compliance and ensure claim accuracy and completeness.
  • Ensure loans are fully liquidated and cleared from MSP within 48 hours of receipt of final claim proceeds.
  • Perform additional duties as assigned by the Claims Department Supervisor or management.

Requirements


  • Strong working knowledge of foreclosure and mortgage claims processes and workflows.
  • Demonstrated knowledge of FHA, USDA, VA, FNMA, FHLMC, MI, and other investor or insurer foreclosure and claims requirements.
  • General understanding of investor and PMI practices.
  • Solid understanding of residential mortgage products and consumer lending.
  • Functional knowledge of mortgage servicing, including default, escrow, payoff, cashiering, and ARM servicing.

Skills and Abilities

  • Excellent written and verbal communication skills.
  • Proficiency in Microsoft Office applications, including Word and Excel, with strong data entry accuracy.
  • Effective negotiation and problem-solving skills.
  • Ability to work independently in a deadline-driven environment.
  • Detail-oriented and highly organized with a goal-oriented mindset.


Education

  • Bachelor's degree in a business-related field, or an equivalent combination of education and relevant experience in mortgage servicing, customer service, or a collections/call center environment.


EEO Statement:

We're an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

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