• Save Job
  • 0 - 3 Years
  • Posted : above 1 month

Job Description:

Job Description Description
POSITION SUMMARY

The Conventional / Agency Claims team handles GSE or RFC mortgages which have gone through a disposition post delinquency These dispositions (Foreclosure sale, Deed in lieu, Short sale, Third Part Take out or Charge off) are the triggers for an advance reimbursement claim to be filed with the investors - GSEs (Freddie Mac, Fannie Mae) or RFC
Advances are expenses incurred by the mortgage servicer post delinquency to maintain a property on behalf of the investor These expenses include but are not limited to taxes, insurance premiums, HOA payments, mortgage insurance payments, property preservation and maintenance expenses, valuation expenses, foreclosure or bankruptcy expenses to name a few Post disposition, GSEs require the servicers to file advance reimbursement claims for the aforementioned expenses advanced during the delinquency state of the loan If these claims are not paid by the investor, the advance incurred would subsequently be a loss for the servicer, ie Ocwen
The team is therefore responsible for filing reimbursement claims to GSEs or RFC accurately and timely so that afore-mentioned advances are reimbursed to Ocwen and not turn into losses or write-offs The scope of this organization also covers performing loan level GL (General Ledger) reconciliations, providing posting instructions for payments received from investors and prior servicers, as well as tracking denied claims

JOB FUNCTIONS AND RESPONSIBILITIES

An Agency claims analyst handles advance reimbursement claims filing and all other associated activities to GSEs (Freddie Mac, Fannie Mae) and RFC on loans triggered through a disposition These activities include but are not limited to
Construct escrow, corporate and NBB (Non Borrower Billable) advance history of the loan utilizing and researching data from REALServicing, Stage5, Vault documents, prior servicer applications or other sources as applicable
Reconcile advance transaction history against outstanding advance balances in the applicable receivable GLs (General Ledger Accounts)
Analyze and identify the advance transactions reimbursable by the investor according to GSE/RFC guidelines
Source all required documentation from CIS, Vault, prior servicer systems or other sources available If documentation is not received via any system, reach out to the BU and prior servicer where applicable, who incurred the expense to get the documentation
o Keep track of such documentation requests and escalate to management in cases of non-availability of documents and subsequent risk of claim denial
File the claim on the investor portal with sufficient documentation and information as required by the GSE/RFC guidelines
Process denied claims and submit supplemental claims to GSEs/RFC as applicable after researching the denial reason and investor guidelines with compelling reasons
If no recourses remain to get reimbursed by the investor, prepare loss claims to be submitted to prior servicers and/or vendors for bill backs

Qualifications
QUALIFICATIONS

Basic Requirements

BCom / BBA/ B Tech / MCom graduates
Ability to reconcile complex advance histories and receivable accounts
Analytical mindset to scrutinize advance transactions and identify claimable transactions per investor guidelines
Excellent communication skills, especially written communication
Proficiency in MS Excel, MS Word, MS Access etc

Good to haves

Experience in or knowledge of SQL, VBA scripting, Data handling etc
Prior experience in Mortgage servicing industry; exposure to GSE (Freddie Mac / Fannie Mae) portfolios would be an added advantage
Hands on experience in reconciling accounts or experience in claim filing processes

TRAINING / LICENSING REQUIREMENTS (only add if needed)

NA

WORK SCHEDULE OR TRAVEL REQUIREMENTS (Only add if needed)

Mid shift (12- 9 PM), no travel

Ocwen is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity & Inclusion ensures that we are an organization that creates, promotes and sustains an inclusive work environment in which diversity, inclusiveness and respect are integral parts of our culture and work environment Building the reputation as an outstanding place to work, a great business partner and a valued community member is our everyday endeavor

Ocwens mission is to delight our customers through caring service and innovative lending solutions We proudly serve over 13 million families with their mortgage needs by helping to find real solutions that benefit our customers and help to build stronger communities Helping Homeowners is What We Do!

Consider an opportunity to join our global team and put Caring in Action while growing your career

Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status If you have a disability or special need that requires accommodation, please let us know

Primary Location IN-KA-Bangalore
Work Locations
Bangalore Pritech 2 (PTECH-2)
Pritech SEZ Park, Block Number 12
5th Floor B Wing and 6th Floor A WingBellandur Village, Sarjapur Marathahalli Ring Road
Bangalore, 560103

Job Residential Servicing
Organization India Business Unit
Schedule Regular
Full-time
Job Posting

Profile Summary:

Employment Type : Full Time
Eligibility : Any Graduate
Industry : CRM/CallCentres/BPO/ITES/Med.Trans, Financial Services/Stockbroking
Functional Area : Accounting/Tax/Company Secretary/Audit
Role : Audit & Risk
Salary : As per Industry Standards
Deadline : 15th Mar 2020

Key Skills:

Company Profile:

Company
Homeward Residential, Incarfix

Salary trends based on over 1 crore profiles

View Salaries

All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd DMCA.com Protection Status