REO Officer I
About The Position
The REO Officer I prepares and submits mortgage loss claims to FHA (HUD), VA, RHS (USDA), Fannie Mae (FNMA), and private mortgage insurance providers. The role interprets and applies private and government mortgage insurance requirements, handbooks, and servicing guidance to support regulatory compliance. It reviews loan-level documentation, investigates claim discrepancies and exceptions, and assists with conveyance and transfers of ownership according to agency guidelines. The position monitors changes in agency and insurer guidelines, documents claim activity, and reviews claims to maximize loss recovery and identify recoverable shortfalls. It also supports internal and external audits and contributes recommendations for corrective actions and process improvements based on claim analysis and trends. A bachelor’s degree is preferred; relevant experience may be considered. Experience in REO, prior claims work, or working with government agencies such as HUD or USDA is helpful.
Requirements
- Relevant professional experience of 1–3 years.
- The description states that 2–3 years of experience in the mortgage industry, real estate owned (REO), or a related field will be considered.
- A bachelor’s degree is preferred; relevant experience may be considered.
- Communication skills.
- Professionalism.
- Teamwork experience.
Nice To Haves
- Experience in REO.
- Prior claims experience.
- Experience working with government agencies such as HUD or USDA.
Responsibilities
- Prepare and submit accurate, timely loss claims to FHA (HUD), VA, RHS (USDA), Fannie Mae (FNMA), and private mortgage insurance providers.
- Interpret and apply private and government mortgage insurance requirements, handbooks, and servicing guidance.
- Gather and review loan-level documentation, including payment histories, escrow balances, corporate advances, and legal or foreclosure fees.
- Research and resolve claim discrepancies, rejected or suspended claims, payment variances, and other exceptions.
- Assist with conveyance and transfers of ownership for FHA, VA, and FNMA loans according to agency guidelines.
- Stay updated on changing guidelines from HUD, VA, RHS, Fannie Mae, and private mortgage insurers.
- Document claim steps, milestone dates, and communications accurately.
- Inspect claims to maximize loss recovery and identify potential recoverable shortfalls.
- Assist with internal and external audits by researching files, preparing documentation, and responding to claim-related inquiries.
- Recommend corrective actions and process improvements based on claim analysis and identified trends.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
