Mortgage Servicing Default Claims Processor

Citizens Bank • Glen Allen, VA

3h • Hybrid

About The Position

The Mortgage Servicing Default Claims Processor is responsible for the timely and accurate preparation, submission, and reconciliation of default-related claims to investors and insurers, including HUD/FHA, VA, USDA, Fannie Mae, Freddie Mac, and private mortgage insurance (MI) companies. This includes evaluating claim submissions, supporting documentation, and reimbursement processes to ensure compliance with investor/insurer guidelines and company standards. The role plays a critical part in mitigating financial risk and ensuring claim recoverability. May assist in developing and implementing policies, procedures, and training materials to maximize efficiency. This role ensures compliance with all regulatory, investor, and insurer guidelines while working to maximize recovery on defaulted loans.

Requirements

• 2 to 4 years of experience with Mortgage Servicing Operations
• Knowledge of the Foreclosure, Loss Mitigation, Bankruptcy and Collection process
• Ability to develop and deliver presentations.
• Knowledge of business concepts as applicable to ACDC department
• Ability to work independently and have strong analytic skills.
• Ability to adapt procedures, processes, and techniques to the completion of assignments.
• Ability to develop and prepare business analysis.
• Ability to process computer data and to format and generate reports.
• Able to independently apply competencies in routine and more complex situations.
• Knowledge of the Investor/Insurer and MI companies reporting requirements and deadlines.
• Work closely with Investor Reporting, Default Cash and Claims as well as all other Default Business lines.
• Ability to manage competing priorities.
• Knowledge of MSP/ LoanSphere
• Advanced Microsoft office skills (Excel/Word/PowerPoint)
• Knowledge of regulatory expectations, risk exposure level, compliance deficiencies audit requirements.
• Knowledge of strategic analytics, enterprise-wide impacts, and concepts.
• HS Diploma, College degree, Associates degree and/or minimum of 3 years mortgage servicing experience

Responsibilities

• Prepare and submit claims for defaulted mortgage loans, including foreclosure, short sale, deed-in-lieu (DIL), and Real Estate Owned (REO).
• Review loan documents, servicing notes, and timelines to ensure accuracy and completeness of claim packages.
• Ensure compliance with investor/insurer guidelines and servicing timelines.
• Communicate with internal departments (foreclosure, bankruptcy, loss mitigation, REO) to gather required documentation and resolve discrepancies.
• Utilize servicing systems (e.g., Black Knight MSP, LPS) and investor portals (e.g., FHA Catalyst, VA Servicer Portal) to submit claims.
• Monitor and track claim payments, denials, or curtailments and resolve exceptions or rejections.
• Maintain accurate records for audit readiness and investor/insurer reporting.
• Support internal and external audits by providing requested documentation and clarifications.
• Identify process improvement opportunities to increase claim recovery efficiency.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree
• Number of Employees: 5,001-10,000 employees