Senior Specialist, Default Claims

This position is responsible for validating all supporting documentation and ensuring all fields/sections of the HUD form are completed accurately. This position is also responsible for submitting the claim to HUD with certification that the claim is filed accurately subject to criminal and/or civil penalties.  This position may be responsible for validating all supporting documents and ensuring all fields/section of the HUD refunds are completed accurately as well as submitting the refund request to senior management for approval. 

Job Functions and Responsibilities:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. 

• Maintains knowledge of HUD regulations and guidelines regarding the claim procedure
• Determines if claim should be filed based on paid in full status
• Validates key dates and information on HUD 27011 form (part A) are accurate and ensures supported documentation is included
• Makes allowable corrections on HUD 27011 form, as necessary
• Verifies mortgagee comments on HUD 27011 form are accurate
• Notifies management regarding changes that need to be updated through HUD
• Ensures appropriate appraisals are utilized
• Performs Quality Control on all information included on the HUD-1form
• Performs Quality Control on taxes and insurance and ensures they were prorated and refunded accordingly
• Verifies applicable extensions and repayments
• Verifies all support documentation is included for property preservations that exceed the HUD allowable amount (50002, Repair Base, and Cost Estimator)
• May have to request additional support documentation from outside parties if not available/sufficient
• Ensures accuracy of claimable expenses
• Follows-up with the responsible party to ensure fatal errors are corrected
• Ensures all documents are sequentially placed in order according to HUD requirements
• Documents the system of records with the status of the claim
• Submits claims in the Hermit system
• Assists management with HUD audits, as necessary
• Determines if the HUD refund request is valid
• Validates key dates and information on the HUD refund request are accurate and ensures supported documentation is included
• Determines allowable corrections on HUD refund request, as necessary
• Ensures appropriate debenture interest and UPB is utilized
• Substantiates debenture interest calculations and dates are accurate
• Verifies that curtailment worksheet is validated and signed off by the certification team, if applicable
• Ensures all applicable debenture interest calculation schedules are in the claim/refund request as applicable
• Follows-up with the responsible party to ensure corrections are made
• Submits the HUD refund to senior management for sign off approval
• May have to monitor the Cash department to ensure all refunds are processed and imaged
• May have to maintain and update HUD refund tracking report
• Instrumental in training/mentorship of less experienced analyst.
• Quality Check of junior analyst files
• Identifies opportunities for improvement and to develop training materials for Jr. Analyst
• Assists in development of process efficiencies within the department.
• Some level of reporting, analysis, and interpretation of claims data

Qualifications:

To perform this job successfully, an individual must have the following education and/or experience:

• High school diploma or equivalent
• Some college preferred
• 5 years of mortgage loan servicing in default, foreclosure, and/or bankruptcy or 3 years of Default claim experience and/or accounts payable
• Proficient in Microsoft Outlook, Word, Excel, and Adobe Professional

Training / Licensing Requirements:

• Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

The salary range for this position is expected to be $43,500 – $63,800 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for bonus based on performance and subject to the terms of the Company’s applicable plans.

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Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.

PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated