Claims Specialist
Description
Position Summary:
Responsible for managing all claims activities across various investors. The Claims Specialist will ensure that claims are filed accurately and timely, documentation is complete, payments are reconciled, and all related loan‑level activities are carefully reviewed and resolved. The role requires strong attention to detail, effective communication, and the ability to oversee processes managed both in‑house and through external vendor.
Responsibilities:
- Manages a pipeline and inbox to provide timely responses for Defaulted and Loss Mitigation claims.
- Responsible for the referral triggers to the claim’s vendor and oversight of the claim’s vendor ensuring that all claims are filed, followed up and paid.
- Ensure all claim supporting documents are uploaded to AIQ and/or reach out to the appropriate department to obtain the missing supporting documentation.
- Reviews claims for payment and updates system to reflect the claim is paid.
- Escalates suspended claims to the claims vendor to address and correct.
- Keeps track of claim deadlines, knowledge of each specific investor requirement for filing for reimbursement.
- Compiling and filing USDA claims in house – knowledge of the USDA system LINC.
- Uses reporting to track claim volume. Reconciling with claims vendors internals report to ensure LD and claims vendor have the same claims.
- Process all VA reporting events in VALERI and provides responses and requested documents to the MI companies by updating their system of record.
- Monitoring all investors’ claim sites for requests, statuses and payments.
- Setting up and completing loss analysis on loans and determining if supplemental claims can be filed.
- Review loans with remaining balances to determine write off is needed.
- Provide posting instructions to default cash on refunds or reimbursements.
- Request payments to the investor for Demand, BOC’s and overpayments. Coordinating with cash to ensure the appropriate amount is being returned to the investor.
- Tracking of 3rd party funds, following up with the attorney firms when the funds are aged.
- Filing Paid in Full claims for GSE loans. Reviewing advances to determine what can be claimed to GSE.
- Completing post title packages to VA and FHA, following up with the attorney firms to meet deadlines.
- Reviewing files for possible billback opportunities.
- Completes loss analysis for each loan to determine loss and identify gaps in process.
Requirements:
- Experience in the Mortgage industry preferred.
- Mortgage claims experience required.
- Loss analysis experience required.
- MSP/BK Mortgage Servicing system knowledge preferred.
- Experience working within investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA. required.
- Experience working within Federal and State regulations related to Mortgage Servicing.
- Knowledge of Microsoft Office applications with extensive usage with Excel; formulas & pivot tables.
- Bachelor’s Degree preferred.
Why work for #teamloanDepot:
- Compensation package based on experience and skill set.
- Inclusive, diverse, and collaborative culture where people from all backgrounds can thrive.
- Work with other passionate, purposeful, and customer-centric people.
- Extensive internal growth and professional development opportunities including tuition reimbursement.
- Comprehensive benefits package including Medical/Dental/Vision.
- Wellness program to support both mental and physical health.
- Generous paid time off for both exempt and non-exempt positions.
About loanDepot:
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.
Base pay is one part of our total compensation package and is determined within a range. This provides the opportunity to progress as you grow and develop within a role. The base pay for this role is between $25/hr and $31/hr. Your base pay will depend on multiple individualized factors, including your job-related knowledge/skills, qualifications, experience, and market location.
We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.