REO Officer I
About The Position
The REO Officer prepares and submits accurate, timely 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, researches claim discrepancies and exceptions, and assists with conveyance and transfers of ownership under agency guidelines. The position monitors changing agency and insurer guidelines, documents claim activity and communications, inspects claims to maximize loss recovery, and supports internal and external audits. It also develops recommendations for corrective actions and process improvements based on claim analysis and trends.
Requirements
- Relevant professional experience; the posting lists 1–3 years and states that 2–3 years in the mortgage industry, real estate owned (REO), or a related field will be considered.
- Communication skills.
- Professionalism.
- Teamwork.
Nice To Haves
- Bachelor’s degree preferred; the qualifications section lists a Bachelor of Arts.
- Experience in REO.
- Prior claims experience.
- Experience working with government agencies such as HUD or USDA.
Responsibilities
- Prepare and submit accurate and timely loss claims to FHA (HUD), VA, RHS (USDA), Fannie Mae (FNMA), and private mortgage insurance providers.
- Interpret and apply private mortgage insurance and government mortgage insurance requirements, handbooks, and servicing guidance to ensure regulatory compliance.
- 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 in accordance with agency guidelines.
- Stay updated on guidelines from HUD, VA, RHS, Fannie Mae, and private mortgage insurers.
- Accurately document claim steps, milestone dates, and communications.
- Inspect claims to maximize loss recovery and identify potentially 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
