Mortgage Default Servicing Specialist

2 weeks ago


Irving, Texas, United States Professional Alternatives Full time
Job Summary

Professional Alternatives is seeking a highly skilled Default Mortgage Servicing Specialist to join our team. In this role, you will be responsible for managing and processing investor claims for loans in default, with a focus on Ginnie Mae (GNMA) and Fannie Mae (FNMA) loans.

Key Responsibilities:

  • Prepare and submit accurate claims for defaulted loans to GNMA and FNMA, ensuring compliance with investor guidelines and deadlines.
  • Review loan files and gather necessary documentation (e.g., foreclosure, property preservation, legal fees) required for claims processing.
  • Collaborate with foreclosure, bankruptcy, and REO teams to ensure proper documentation and reporting for all claim submissions.
  • Monitor claims from initial filing to final disposition, including follow-up with investors and internal departments to resolve any issues or discrepancies.
  • Analyze loan histories, default timelines, and loss mitigation efforts to ensure claims are complete and accurate.
  • Validate the accuracy of principal, interest, advances, and expenses on claims to minimize losses.
  • Ensure that all claimable expenses (e.g., legal fees, property maintenance, taxes) are included in the claim submission and conform to investor guidelines.
  • Maintain a thorough understanding of GNMA and FNMA investor guidelines and regulatory requirements.
  • Ensure claims are compliant with GNMA and FNMA servicing guidelines, FHA regulations (for applicable loans), and other investor requirements.
  • Track and stay updated on changes in investor guidelines and apply them to claims processing procedures.
  • Monitor and track all claims activity, including timelines for submission, payment status, and potential curtailments or penalties.
  • Prepare detailed reports on claims activity, outstanding claims, and recoveries.
  • Work with internal departments to reconcile investor recoveries and payments, and ensure accurate accounting of recovered funds.
  • Act as the primary contact for investor claims-related inquiries, ensuring timely resolution of issues.
  • Work closely with investors (GNMA, FNMA), attorneys, and third-party vendors to resolve any deficiencies or disputes in claims.
  • Communicate regularly with internal teams (foreclosure, bankruptcy, REO) and investors regarding the status of claims and outstanding issues.

Requirements:

  • 3-5 years of experience in default mortgage servicing, with a focus on investor claims.
  • Prior experience with GNMA and FNMA claims.
  • Familiarity with foreclosure, bankruptcy, and REO processes as they relate to investor claims.


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