Claims Analyst

Location: U.S. Remote- Hybrid if within 30 miles of Austin, TX.

Pay: $24.04 - $31.25 D.O.E.

Summary:The Default Claims Analyst reports to the Default Support Supervisor. The primary role of the Analyst is to prepare, submit and follow-up on claims submitted and paid by FNMA, FHLMC, FHA, VA USDA and MI companies to settle advances incurred throughout the default process. The Analyst reviews loss mitigation workouts, invoices paid and other default activities on paid off and foreclosure loans. The Analyst will validate the claim amount, evaluate any discrepancies between advances made, claims filed, and amounts received and determine the root cause for all losses by department and activity performed.

Responsibilities:

• Submit and monitor reimbursement requests to GSE Investors (FNMA, FHLMC and HUD/VA/USDA) for advances incurred on defaulted mortgage loans.
• Submit and monitor reimbursement requests to Mortgage Insurance companies for losses incurred on defaulted loans.
• Perform loss analysis reconciliations on defaulted loans post claims to identify and report accountability and root cause for unreimbursed advances on foreclosures, DIL’s and Short Sales.
• Verify claim proceeds, short sale proceeds, and 3rd party foreclosure sale proceeds are accurately credited, write-off/charge-off approval obtained and processed, if applicable, all system balances are zero, and loan removal is processed in MSP.
• Document and maintain all systems necessary for booking losses, assigning root cause and follow-up to prevent recurrence of loss types.
• Comply with all state and federal laws, regulations and investor and insurer guidelines.
• Responsible for keeping abreast of relevant changes to investor/insurer guidelines, industry standards and client expectations. In particular, must keep up-to-date on all FHA, VA, USDA, PMI and FNMA/FHLMC servicing requirements and revisions.
• Maximize the recovery of potential losses through the timely and accurate filing of mortgage insurance and investor claims. Ensure that supplemental claims are filed as needed.
• Prepare monthly reports on monetary losses due to curtailments or servicing deficiencies and present to management.
• Negotiate full or partial settlements with MI, Investor, or other 3rd party as required.
• Manage the claim vendor to ensure they are filing claims timely and accurately.
• Other duties may be assigned.

• Has knowledge of all Default Servicing processes up to and including Loss Mitigation, Bankruptcy, Foreclosure, Conveyance and Claims in addition to mortgage servicing state, federal and agency guidelines and timelines;
• In depth knowledge of MSP, with at least (3) years recent experience working with MSP;
• Must be detail oriented and have excellent time management and organizational skills;
• Ability to meet time deadlines while working under pressure;
• Handles simultaneous tasks and projects in a fast paced environment. Able to work independently;
• Good business writing and business math skills;
• Excellent verbal and written communication skills;
• Strong PC skills. Must be proficient in MS Windows, MS Outlook, MS Office Suite, MS Visio and MS SharePoint.

Education/Experience:

• Bachelor’s Degree in Finance, Accounting or Business Administration preferred. 
• Will consider a combination of equivalent experience and education; Combined, 2+ years of experience working in Default Claims with direct experience in filing FHA/VA Claims and knowledge of FHA Repurchase and Conveyance processes.
• 4+ years Mortgage Servicing or other relevant financial services industry experience. 

Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

 The noise level in the work environment is usually quiet.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  Must be able to lift up to ten pounds.  Primary functions require sufficient physical ability and mobility to work in an office setting; to stand or sit for prolonged periods of time; to occasionally stoop, bend, kneel, crouch, reach, and twist; to lift, carry, push, and/or pull light to moderate amounts of weight; to operate office equipment requiring repetitive hand movement and fine coordination including use of a keyboard; and to verbally communicate to exchange information.  VISION:  See in the normal visual range with or without correction.  HEARING:  Hear in the normal audio range with or without correction.

EOE/M/F/D/V. Drug-free workplace.

Work Authorization:

Must be able to verify identity and employment eligibility to work in the U.S.

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