Mortgage Default Claims Specialist

Mortgage Default Claims Specialist

Role Overview

The Mortgage Default Claims Specialist is a crucial member of the servicing team responsible for managing the claims process for defaulted mortgage loans. This role is responsible for the preparation, submission, and reconciliation of claims for defaulted residential loans. The ideal candidate has a strong understanding of mortgage servicing regulations, exceptional attention to detail, and proven experience in a fast-paced default environment.

Essential Functions:

• Prepare and file complex Supplemental and Primary insurance claims (FHA, VA, PMI) and investor claims (Fannie Mae, Freddie Mac) within strict mishap and curtailment deadlines.
• Perform detailed audits of corporate advances, escrow disbursements, and legal fees to ensure all recoverable expenses are included in the claim submission.
• Partner with Foreclosure, Bankruptcy, and REO departments to ensure the "Transfer of Custody" and "Title Approval" are completed to trigger claim eligibility.
• Manage a high-volume pipeline of pending claims, proactively following up with agencies to expedite payment and reduce Days to Recovery metrics.
• Research and resolve claim curtailments (denials/reductions). Identify root causes, gather supporting evidence, and draft formal appeals to recover lost funds.
• Maintain precise documentation within the MSP (Mortgage Servicing Package) or similar servicing systems, ensuring a clear audit trail for internal and external (HUD/GSE) auditors.
• Interpret and apply frequent updates from HUD Mortgagee Letters and GSE Bulletins to ensure filing processes remain compliant with ever-changing federal mandates.
• Identify non-recoverable expenses and report trends to management to help improve front-end servicing processes and reduce future corporate losses.

Knowledge, Skills, & Abilities

• Experience working in and knowledge of the HUD Connection, VA VALERI, and Fannie Mae/Freddie Mac claim portals.
• Strong understanding of the foreclosure timeline and how Milestone Dates impact claim eligibility and potential interest curtailment.
• Ability to reconcile complex ledger histories and identify discrepancies between Amount Claimed and Amount Paid.
• Working knowledge of mortgage default claims procedures for various agencies and investors (FHA, VA, Fannie Mae, Freddie Mac).
• Strong professional writing skills for drafting compelling claim appeals and maintaining relationships with agency representatives.
• Advanced skills in Microsoft Excel (VLOOKUPs and Pivot Tables are highly preferred for reconciling large claim payments) and core servicing systems like MSP or Seterus.
• Proven ability to meet rigid timeframes for filing where a 24-hour delay can result in significant financial loss.
• A high degree of integrity and attention to detail to ensure all filings withstand post-claim audits by investors or the OIG.
• Regular, reliable and predictable onsite attendance in an essential function of this role.
• Other duties as assigned.

Experience & Education

• High school diploma or equivalent is required; an Associate's or Bachelor's degree in a related field is a plus.
• 2 - 4 years of experience in mortgage servicing, with a focus on default claims, loss mitigation, or foreclosure.
• Additional experience may also be considered, property management experience or accounting experience, especially with reconciliations or audits

Physical Requirements

• This is a primarily sedentary position, involving prolonged periods of sitting at a desk and working on a computer.
• Occasional light physical activity may be required, such as walking within the office.
• This role requires strong mental focus, problem-solving skills, and the ability to maintain composure while managing complex and sensitive financial data.

Length: Temporary (approximately 2 months)

Pay: $24.00/hour- $26.00/hour (depending upon experience)

Schedule: Full-time (8:00 AM- 5:00 PM Mon-Fri). Open to a 7:00 AM start time as needed.

Two mandatory Saturdays required per month. Schedule for Saturday is either 7:00 AM- 1:00 PM or 8:00 AM- 2:00 PM.