Investor Claims Loss Analyst II
Flagstar Bank FSB

Job Info

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Job Summary
This position will be responsible for mitigating the Bank's risk of loss through the management and analysis of the quality of FHA, VA, USDA, and Fannie/Freddie claims prepared through the Investor Claims Production team. Specifically, the candidate will analyze the quality of the claims prepared, and report and aggregate findings relative to the Bank's financial position on each loan (outstanding advances), proposed balances being claimed (as prepared by Claims Production staff), and estimated gains/losses resulting from the filing of each type of investor/insurer claim. In this role, the candidate will also serve as investor/insurer guideline expert, and assist in identifying process improvement opportunities for the Claims Department

Job Responsibilities:

Perform Loss Analysis Reviews

• Conduct full claim quality and financial position analysis on all filed claims to quantify the loss/surplus remaining after the claim payment, assign responsibility for the loss as between the MSR owner, Flagstar, and Flagstar's default servicing vendors. This process requires thorough knowledge of all investor/insurer claim filing and curtailment guidelines, expertise with Flagstar's servicing system (MSP), understanding of Flagstar's contracts with MSR owners and default servicing vendors, and familiarity with the default servicing process.

Identify supplemental filing opportunities and remittance obligations.

• As part of the loss analysis review described above, this position will also identify opportunities for supplemental claim filings to correct claim filing errors that resulted in short payments, as well as identifying trailing invoices received after the claim was filed in order to request payment of these invoices. This position will also identify overpayment scenarios for which Flagstar must remit overpayments to the insuring/guaranteeing party and communicate these filing opportunities to the Claims Filing group.

Identify third party recourse opportunities

• This position will analyze identified losses to determine whether third parties, such as default servicing vendors, property preservation vendors, foreclosure attorneys or others are responsible for that loss. This position will communicate these opportunities to the servicing recourse area for pursuit, and will assist the servicing recourse area in responding to feedback or rebuttals from the identified third parties.

Identify and communicate with MSR owners regarding losses

• For identified losses that are the responsibility of the MSR owner, this position will prepare documentation to the MSR for such losses, and will assist the department manager in responding to MSR owner feedback or rebuttals.

Reporting & Procedures

• This position will assist with keeping departmental policies and procedures up to date, and will assist with internal and external reporting related to the loss analysis function.

Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.

Job Requirements:

• High School Diplomat, GED or Foreign Equivalent is required. Bachelor's Degree is preferred in Finance/General Business.
• 5+ years of experience with investor/insurer claims with full understanding of corporate advance, claimable expenses, investor/insurer claim guidelines
• 2+ years of experience in financial analytics required
• Strong analytical and technical skills, including Excel
• Working knowledge of LoanSphere Invoice Management and MSP Escrow and Corporate Advance Workstations
• Understanding of overall financial impact
• Direct experience with FHA Connect, YARDI, VALERI, Asset Management Network
• Familiarity with LPS Desk Top and MSP servicing system
• Ability to effectively communicate with all levels of the organization
• Demonstrated success in working in a fast paced, distributed environment
• Excellent leadership skills, team building, and consensus building skills; Demonstrated ability to collaborate successfully with cross functional teams
• Excellent written and verbal communication skills; must have the ability to effectively distill complex matters into streamlined and well-thought out communication streams.
• The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.

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