Claims Examiner

Summary:

The Claims Examiner is responsible for performing financial reconciliation on all liquidated loans. Identify additional recovery opportunities to mitigate losses for both Freedom Mortgage and its clients. Review and research curtailments, supplemental and remittance incurred losses on liquidated loans, determine validity and report trends or improvement opportunities to management. Determine the root cause for all avoidable losses, work under general direction analyzing multiple data elements to apply the proper decision rationale and attaching evidentiary information to accurate written summaries. Perform all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates.

Essential Job Duties and Responsibilities:

• Act as liaison with Loss Analysis Department to review and validate supplemental claim opportunities and remittances to investor/insurers and develop regular management reporting.      
• Manage all process change notifications for distribution to impacted departments if internal adjustments are necessary.
• Maintain Claims Sharepoint site to ensure accurate information regarding claims policy.
• Make corrections, complete uploads and maintain updates in system for any EDI errors on claims that have been filed.
• Maintain Dashboards within Agency websites/systems.
• Respond to and make all corrections identified during the Quality Review Process within 24 hours of receipt.
• Responsible for learning new skills and expand job knowledge to better perform assigned duties.
• Maintain monthly performance in alignment with quality expectations.
• Analyze multiple data elements in order to apply the proper decision rationale and provide evidentiary support to complete accurate written summaries.
• Research incurred losses, using analytical skills and subject matter knowledge to determine responsibility and identify bill back opportunities.
• Complete routine reporting for management on any findings, curtailments and/or charge offs to be presented to management as required.
• Responsible for staying abreast of relevant changes to GSE or Government Mortgage Insured guidelines, industry standards and client expectations.
• Ensure timely completion of projects and tasks when assigned. If unable to meet a deadline, the deadline must be renegotiated prior to the initial deadline date.
• Look for opportunities to improve the department’s processes and procedures, to reduce costs and eliminate non-essential and manual processes and activities.
• Keep Management informed of all trends and problems including, but not limited to, claim denials/curtailments and claim payment offsets.
• Comply with all company policies and procedures.
• Maintain regular and punctual attendance.

Other Job Duties and Responsibilities:

Performs other related duties as assigned.

Supervisory Responsibilities:

• This position is an individual contributor with no direct reports but may provide guidance, leadership, or training to others.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

• Moderate working knowledge of all Default Servicing processes up to and including Loss Mitigation, Bankruptcy, Foreclosure, Conveyance and Claims in addition to mortgage servicing state, federal and agency guidelines and timelines.
• Moderate background in financial and loss analysis including ability to determine: all funds/advances due to Freedom Mortgage have been recovered
• Must possess the ability to complete financial reconciliations.
• Moderate computer skills with MS Word, Excel.
• Strong attention to details and excellent time management and organizational skills.
• Comprehensive writing skills, including proper punctuation and grammar, organization, and formatting.
• Ability to work under general direction to accomplish department goals and reduce/mitigate financial loss to Freedom Mortgage.
• Ability to work effectively and develop rapport with all levels of staff, management, Investors/Insurers and 3rd parties.
• Ability to identify urgent matters requiring immediate action and properly escalating them.
• Ability to handle multiple tasks under pressure and changing priorities.

Education and/or Experience:

• High School diploma required; Associate/Bachelor Degree in accounting or other related field preferred.
• Five (5) or more years’ mortgage servicing default experience.
• One (1) or more years’ Loan Servicing platform experience for all default related activities such as Foreclosure, Bankruptcy, Default Claims, Loss Mitigation, etc.
• Previous FHA, VA, USDA and PMI claims experience preferred

Certificates, Licenses, Registrations:

• None required

Work Complexity:

Problems and issues faced are difficult and complex, and may require understanding of broader set of issues. Problems typically involve consideration of multiple issues and understanding of the financial/mortgage industry. Problems are typically solved through drawing from prior experience and analysis of issues.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant elements. The noise level in the work environment is usually moderate.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Equal Employment Opportunity:

The company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.

Americans with Disabilities Act:

Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.

Job Responsibilities:

The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The company may change the specific job duties with or without prior notice based on the needs of the organization.