Carrington Mortgage Holdings, LLC

  • Loss Analysis Specialist

    Job Locations US-IN-Westfield
    Job ID
    2018-7441
    Position Category
    Servicing
    Company
    Carrington Mortgage Services, LLC
    Position Type
    Regular
  • Overview

    FOUNDED IN 2003, Carrington has evolved from a mortgage credit asset manager into a vertically-integrated real estate and mortgage company with four business divisions: Asset Management, Mortgage Servicing and Origination, Property Logistics and Management and Real Estate Services. TOGETHER, the Carrington Family of Companies has the ability to direct a range of activities across the life cycle of single family residential assets. TODAY, Carrington seeks to deliver to investors and consumers a comprehensive set of products and investment opportunities in the single-family residential markets with the ability to execute immediately.

     

    As a result of our continuing growth and success, Carrington Mortgage Services is seeking a Loss Analyst to join our team in Westfield, IN!

    Responsibilities

    The Loss Analyst will be the individual that protects Company and Investor assets by performing a variety of activities related to reconciling claims filed to FHA, VA, USDA and PMI with a core responsibility and focus for the GNMA portfolio. Perform Quality Control of loss analysis work on all liquidated loans to determine the avoidable/unavoidable loss for each loan. Analyzing multiple data elements in order to apply the proper decision rationale and attaching evidentiary information to accurate written summaries. Work in conjunction with management team in providing the best resolutions under general directions with substantial latitude to improve and prevent losses, maximize claim recoveries by validating supplemental opportunities while remaining in compliance.

    • QC the loss analysis review within 5 days of receipt of file, verify information that outlines the avoidable and unavoidable loss and cause of loss and/or bill backs to vendors.
    • Verifies claim proceeds, short sale proceeds, and 3rd party foreclosure sale proceeds are accurately credited, write-off/charge-off approval obtained and processed if applicable, all system balances are 0, and loan removal is processed in system of record.
    • Makes recommendations for enhancing processes and procedures to prevent future occurrences; escalates to management any failure to comply with investor/insurer/or CMS guidelines and requirements that resulted in the loss. 
    • Maintain Manager informed of all trends and problems including, but not limited to losses and compliance issues that will create an “out of compliance” condition or expose CMS to any risk of exposure or liability by compiling and preparing a weekly and monthly management report in summary and detail outlining all loans where final claim proceeds were received and the results of the loss analysis. 
    • Works with the claims department to ensure supplemental claims are filed as needed.
    • Provides monthly reporting on the status of all supplemental claims and bill backs
    • Keeps up to date on all FHA, VA, USDA, PMI, and Fannie Mae servicing requirements and revisions. 
    • Responsible keeping abreast of relevant changes to investor/insurer guidelines, industry standards and client expectations
    • Assumes responsibility for completion of assigned duties. If unable to meet a deadline, the deadline must be renegotiated prior to the initial deadline date.
    • Exercises authority required to accomplish assigned duties and responsibilities and accepts full accountability for results achieved. 
    • Plans and schedules work so that it can be performed efficiently and effectively, reduces costs where possible by improving methods and processes and eliminating non-essential and manual processes and activities. 
    • Learns new skills and expands job knowledge to better perform assigned duties. 
    • Perform all duties within the company’s policies and procedures, investor and insurer guidelines and all US state and federal laws and regulations, wherein the company operates.
    • Identifying gaps in the department policies and procedures which allowed breakdown and provide recommendations to correct breakdown in process
    • All other duties as assigned and special projects as assigned.

    ESSENTIAL KNOWLEDGE, SKILLS, ABILITIES AND COMPETENCIES:

    • Knowledgeable 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.
    • Strong background in financial and loss analysis including ability to determine: all funds/advances due CMS have been claimed and received, Level of compliance with investor/insurer/CMS policies and procedures, the avoidable and unavoidable loss and Loss trends.
    • Diplomatic and assertive communication skills. Ability to work effectively and develop rapport with all levels of staff, management, Investors/Insurers and 3rd parties.
    • Must be detail oriented and have excellent time management and organizational skills.
    • Comprehensive writing skills, including proper punctuation and grammar, organization, and formatting. 
    • Knowing how to substantiate facts and properly document them.
    • Ability to make decisions that have moderate impact to immediate work unit.
    • Identifying urgent matters requiring immediate action and properly escalating them.
    • Ability to handle multiple tasks under pressure and changing priorities.
    • Excellent computer skills with MS Word, Excel.

    Qualifications

    EDUCATION, EXPERIENCE AND/OR LICENSES:

     

     

    • High School diploma.
    • Some college preferred.
    • Two (2) or more years of mortgage servicing default experience.
    • Previous FHA, VA, USDA and PMI claims experience preferred.
    • Prefer 1 or more years Fiserv experience for all default related workstations.


    EEO/AAP Employer

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