HM Claims Specialist

Citizens Bank • Glen Allen, VA

7d

About The Position

Once foreclosure representative completes the foreclosure steps, the file is
then given to the claims department to submit claims to the investor for
attorney fees, cost, taxes and insurance that were paid during the foreclosure
process, for reimbursement. Specifically adhere to all investor’s guidelines and
procedures.

The FNMA(Fannie Mae)/FHLMC(Freddie Mac) Claims Specialist performs all tasks
associated with reimbursement claims filed with FNMA and FHLMC.  The process
includes compiling the documentation and information needed to prepare the
claim, preparing the claim, working within specific internal and government
applications to identify allowable expenses and timelines when filing the claim;
inclusive of claim preparation of incentive claim proceeds for completed loss
mitigation workouts. This role is responsible for analyzing funds advanced on a
mortgage and determining what can be reimbursed by FNMA and FHLMC.   This
position requires the application of various complex methods, procedures, and
knowledge of the business unit’s product(s) and system application(s) such as
LoanSphere Claims. Qualified candidate will need to be efficient with property
preservation functions as well as have knowledge in all areas of default
mortgage.

This role performs routine, complex analytical review of data and/or
documentation which may include customer data and/or review for fraud/risk
activities and/or perform moderately complex analysis to identify and resolve
process-level issues. May assist in developing and implementing policies,
procedures, and training materials to maximize efficiency. May manage projects
requiring coordination with other teams, process improvement projects and may
perform other such duties as assigned including trouble shooting operational
issues.

May serve as subject matter experts with vendor relationships and serve as
business unit liaison with other departments. May serve as point person for more
junior team members.  Collect, review and analyze data and/or documentation to
ensure compliance with department SLAs, policies, procedures, and/or regulatory
and risk requirements.

Requirements

• Reconciliation of debits and credits
• Strong knowledge of Mortgage Default processes (Collections, Loss Mitigation, Foreclosure, Property Preservation)
• Strong knowledge of FNMA Claim Requirements
• Strong knowledge of FHLMC Claim Requirements
• Excellent organization skills
• Excellent ability to multi-task
• Strong knowledge of Mortgage applications and systems
• Excellent time management skills
• Excellent written and verbal skills
• Advanced analytical skills
• Solid interpersonal skills
• Capacity to work independently
• Excellent interpersonal skills

Nice To Haves

• Advanced knowledge of Microsoft Excel is a plus

Responsibilities

• Reviewing Loan History to determine any money advanced on a mortgage that can be reimbursed from FNMA/FHLMC
• Gathering all required documentation to support the claim
• Compiling all advances, invoices, and supporting documentation into a claim for submission
• Filing the claim within the correct internal/government system to request reimbursement
• Reconciling claim funds and expenses written off to ensure all claimable amounts have been filed

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed