Claims Processing Specialist

2 weeks ago


Meriden, Connecticut, United States Planet Home Lending Full time
Job Overview

Location
Remote

Position Summary

The Claims Processing Specialist plays a crucial role in managing the daily operations related to claims submissions and ensuring the prompt and precise evaluation of claims associated with default-triggered loans. This position is vital for mitigating risk and minimizing potential losses for the organization and its stakeholders.

Key Responsibilities
  • Conducts thorough reviews and analyses to guarantee the timely resolution of all claim categories, overseeing claims to assess their status and facilitate closure. Maintains adherence to claim submission deadlines and effectively manages workload to meet all necessary timelines. Investigates, reports, and resolves any claims that are under review.
  • Exhibits a deep understanding of various claims filing systems, including but not limited to FHA Connection, YARDI P.260, FHA Catalyst, Loansphere Claims, and CMAX.
  • Ensures strict compliance with all relevant company policies, procedures, and legislative, regulatory, and default reporting standards during processing activities.
  • Acts as a point of contact between the organization, vendor partners, and regulatory agencies to provide essential loan information for claims, clarify servicing guidelines, and address any arising issues.
  • Offers guidance and support to claims personnel regarding agency, GSE, or investor regulations and policies.
  • Ensures the accurate application of all received mitigation claim funds and reviews for any applicable appeals or supplemental claims. Handles and submits appeals for agency and GSE demands.
  • Collaborates with Quality Assurance teams to perform secondary reviews for the accuracy of claim submissions.
  • Possesses the capability to manage HUD Reconveyance Reacquisition Resolution and HUD supplemental claim processing.
  • Performs additional duties as assigned.
Qualifications

Education
  • High school diploma or equivalent is required.
  • Some college education is preferred.
Experience
  • A minimum of three years in default mortgage servicing is required.
  • At least three years of experience in claims default servicing is necessary.
  • Prior experience with FHA, VA, USDA, FHLMC, FNMA, or MI claims is preferred.
Skills
  • In-depth knowledge of mortgage banking practices and procedures, including familiarity with FHMLC, FNMA, VA, FHA, and GNMA guidelines and timelines.
  • Ability to file various types of agency, GSE, and investor claims.
  • Working knowledge of Default Servicing procedures.
  • Strong verbal and written communication skills.
  • Excellent mathematical abilities.
  • High attention to detail.
  • Ability to multitask and manage time efficiently.
  • Flexibility, organization, and the capacity to manage multiple priorities while meeting strict deadlines in a dynamic work environment.
  • Effective problem-solving skills.
  • High proficiency in Microsoft Office applications, including Excel, Word, and Outlook. Experience with LPS servicing systems is preferred.
Benefits

Our comprehensive benefits package includes multiple medical plans, dental and vision insurance, short-term and long-term disability insurance, basic life insurance, a 401(k) plan, and paid holidays. Additionally, we offer supplemental benefits such as life insurance, critical illness coverage, and accident plans.

Work Environment

This position is typically performed in a standard office setting. The physical demands of this role include maintaining regular attendance, effective communication, and the ability to stand, walk, sit, and use hands and fingers for various tasks. Occasionally, the employee may need to lift or move items weighing up to 10 pounds. Specific vision abilities required for this role include close vision and the ability to adjust focus. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.

This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the position. The company reserves the right to amend or modify this document at any time.

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