This job has expired, please see additional jobs below
Mortgage Claim Analyst, Senior
Walter Investment Management Corp
Houston, TX, United States
Job Details - this job has expired, please see similar jobs below
Reverse Mortgage Solutions, Inc. (RMS) is a subsidiary of Walter Investment Management Corporation along with Ditech. Reverse Mortgage Solutions, Inc. (RMS) was formed in March 2007 by a group of leading mortgage and technology executives to meet the growing demand for the servicing and private label sub-servicing of reverse mortgages. With corporate headquarters in Houston, Texas we are proud to be a HUD-, FHA- and Fannie Mae-approved servicer with a “STRONG” rating from Standard & Poor’s Rating Services. At RMS we recognize that our employees are our most valuable assets. We operate with an entrepreneurial spirit: we move quickly, adapt to changes in the marketplace, and are focused on being the leading servicer of reverse mortgages. We offer a wide range of positions in a workplace that fosters career growth for talented and motivated professionals. This is your unique opportunity to join our team!
PURPOSE OF THE POSITION
Under the direction of the Supervisor of Claims, the Claim Analyst will be responsible for the analysis of RMS and HUD financial elements in order to reconcile loan losses/gains loan level. The Claim Analyst is responsible for providing a comprehensive detailed report to management and investors of the reconciled financial elements. The Claim Analyst determines if a supplemental claim is required, determines the investor’s cost of doing business and/or servicer error.
KEY ACCOUNTABILITIES
1. In depth knowledge of HUD regulations and guidelines; maintain HUD regulatory requirements
2. Responsible for reconciling corporate expenses to the loan transaction history.
3. Review servicing timelines to determine if the servicing was in compliance with HUD guidelines.
4. Audit HUD 27011 Claim form for accurate claim filing of expenses and loan data to determine if all information was reported correctly.
1. Ensure all dates and amounts are correct and supported
2. Reconcile claim to ensure all claimable expenses are included
3. Detailed HUD required comments are in the mortgagee section
4. Ensure no non-claimable expenses are included in the claim
5. Ensure the correct investor is noted
6. Correct proration of taxes and hazard insurance
7. Correct debenture rate is reported
8. Ensure all required support documents are in the claim package and imaged in Navigator
5. Audit HUD Voucher for accurate claim reimbursement and note variances that would create the need for a Supplemental claim and/or determine if there is a loss to the investor or servicer
1. Correct Outstanding balance
2. Correct debenture interest rate used by HUD
3. Debenture interest paid through dates
4. All claimed expenses are reimbursed
5. Correct Sales Price/Appraisal
6. Determine if disallowed expenses are justified
7. Determine if curtailment is it justified or should be challenged
8. Determine if a supplemental claim is required
6. Ensure all credit transactions are posted to Navigator correctly
7. Complete Investor Reconciliation Analysis Worksheet
1. Identify data fields from Navigator and the HUD voucher
2. Determine which expenses are Pre 180 and Post 180
3. Determine investor cost of doing business expenses and/or write offs
4. Reconcile MIP, Servicer Fee and Interest
5. Determine servicer error
1. Missed benchmark
2. Expense not claimed
3. Expense not allowed by investor
4. Expense claimed incorrectly
5. Incorrect UPB
6. Incorrect dates
7. Incorrect claim type
8. Report investor reconcilation to management and investor relations
1. Servier error, reason for curtailment and amount
2. Investor cost of doing business and/or write off
9. Assist management with HUD annual audit
1. Quality control on claims selected for review and submit findings to management
2. Provide support documentaion to the HUD auditor that was not required in the claim package but require to be maintained by the servicer.
1. Mentor junior staff on best practices
2. Maintain appropriate logs and database systems.
SELECTION CRITERIA
• High School Diploma
• Minimum of 4 years of mortgage servicing claims and accounting preferred.
• Ability to work independentaly and as a team player.
• Ability to adapt to a fluid work environment with changing regulations and processes.
• Abilty to handle multi-task projects and maintain time management for high priority projects.
• Excellent interpersonal skills, creatvie problem solving and decision making, self movtivation required for goals/projects.
• Working knowledge of Outlook, Word, Excel and Adobe Professional.
In addition to the Company’s standard background check, this position also requires the successful completion of a background check conducted by the FDIC to include criminal background check, credit check and fingerprinting.
#mortgage