Tax and Insurance Specialist

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Shift Type

Job Title

Tax and Insurance Specialist

Education

Associate Degree

Location

Clinton Savings Bank
- Operations Center
- Clinton, MA 01510 US (Primary)

Experienced (Non-Manager)

Category

Salary Grade

Date Needed By

Job Type

Full-time

Travel

Job Description

Tax and Insurance Specialist This is a Hybrid position. Pay Range: $48,000 – $67,000

The Tax and Insurance Specialist is responsible for the administration, monitoring, and protection of the financial institution's collateral portfolio through the oversight of real estate taxes, flood insurance, hazard insurance, private mortgage insurance (PMI), and force‑placed insurance programs. This position ensures compliance with federal and state regulations, investor guidelines, and internal policies while minimizing risk to the Bank’s real estate‑secured loan portfolios.

This specialist serves as a primary resource for borrowers, insurance carriers, tax authorities, escrow vendors, investors, and lending personnel to ensure taxes and insurance obligations are maintained and paid timely to protect the Bank's collateral interests.

• Monitor and maintain real estate tax records for residential and commercial mortgage portfolios.
• Review and tax bills and verify parcel information, tax amounts, and payment due dates.
• Process tax bills to ensure timely payment and prevent tax liens.
• Process and authorize payment of real estate taxes from escrow accounts.
• Research tax delinquencies, tax discrepancies, and tax liens, and coordinate with the Collections Officer to ensure timely follow‑up and execute appropriate next steps.
• Respond to borrower inquiries regarding tax payments and escrow analyses.
• Coordinate with municipalities, tax collectors, and third‑party vendors to obtain missing or corrected tax information.
• Reconcile tax disbursements and ensure accurate system records.

• Monitor hazard insurance coverage for mortgaged properties to ensure adequate protection of collateral.
• Review policies, declaration pages, endorsements, and renewals for adequacy of coverage and compliance with lending requirements.
• Verify mortgagee clauses, insured property information, and policy effective dates.
• Process insurance premium disbursements from escrow accounts.
• Track policy renewals, cancellations, and lapses.
• Communicate with borrowers and insurance agents to resolve coverage deficiencies.
• Provide oversight of insurance tracking vendor.

• Ensure compliance with Flood Disaster Protection Act requirements and related regulations.
• Review flood zone determinations and verify flood insurance coverage meets regulatory and loan requirements.
• Monitor policy expirations, renewals, and coverage adequacy.
• Provide oversight of insurance tracking vendor.
• Coordinate flood insurance placement and updates resulting from flood map revisions.
• Assist with regulatory examinations and audits related to flood compliance.

• Monitor loans requiring PMI coverage and ensure premiums are paid timely.
• Maintain PMI records and update servicing systems as coverage changes occur.
• Review borrower requests for PMI cancellation in accordance with investor and regulatory requirements.
• Process PMI terminations based on loan‑to‑value thresholds, borrower requests, or automatic termination criteria.
• Coordinate with mortgage insurance providers to resolve coverage or billing discrepancies.
• Ensure compliance with the Homeowners Protection Act (HPA) and applicable investor guidelines.
• Research and respond to borrower inquiries regarding PMI requirements, and cancellation eligibility.