Default Claims Specialist

Description

Summary

The Default Foreclosure Claims Specialist is responsible for managing the end-to-end claims lifecycle and overseeing property preservation servicing activities within a mortgage servicing environment. This role ensures compliance with investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA), CFPB regulations, and applicable state and federal requirements. The position partners cross-functionally to maximize claim recoveries, control costs, mitigate risk, and ensure properties are maintained in accordance with investor and regulatory expectations.

This is a fully remote position. We are looking to fill this position in one of the following states that we have offices in: AR, FL, IA, KS, MI, MO, NE, OK, TN, TX.

Key Responsibilities

Claims Management & Recovery

• Manage the full lifecycle of foreclosure and default-related claims, including preparation, submission, tracking, reconciliation, and resolution.
• File and monitor claims with investors, guarantors, and insurers (FHA/HUD, VA, USDA, PMI, Fannie Mae, Freddie Mac).
• Ensure timely filing and follow-up to prevent curtailments, denials, or lost recoveries.
• Audit and validate claim calculations, including principal, interest, advances, fees, and allowable costs.
• Conduct root cause analysis on denied or curtailed claims and implement corrective actions.
• Research and resolve claim exceptions, deficiencies, and appeals, including supplemental claims as needed.
• Reconcile claim proceeds and ensure accurate system and general ledger posting.
  
  

Property Preservation & REO Oversight

• Oversee property preservation and REO servicing activities to ensure compliance with investor guidelines, CFPB regulations, and state/federal laws.
  
  

Compliance, Risk & Controls

• Ensure adherence to agency, investor, and regulatory requirements (FHA, VA, USDA, FNMA, FHLMC, CFPB).
• Identify, document, and escalate compliance risks, servicing errors, and control gaps.
• Maintain thorough, audit-ready documentation supporting all claim and preservation activities.
  
  

Collaboration & Operational Excellence

• Serve as a subject matter expert (SME) on default claims processes and property preservation requirements.
• Gather required documentation and resolve discrepancies impacting claims or property expenses.
• Track, analyze, and report performance metrics, including recovery rates, curtailments, timelines, and vendor effectiveness.
• Identify trends and recommend process improvements to enhance efficiency, compliance, and financial outcomes.
• Assist in development and maintenance of procedures, workflows, and training materials.
  
  

Requirements

Qualifications

• 3–6 years of experience in foreclosure claims and property preservation.
• Strong working knowledge of:
• Agency/government claims (FHA Part A/B, VA, USDA)
• GSE requirements (Fannie Mae, Freddie Mac)
• Property preservation and REO guidelines
• Experience with mortgage servicing platforms (e.g., MSP/ICE).
• Advanced proficiency in Excel and data analysis.
  
  

Skills & Competencies

• Strong analytical and root cause problem-solving skills
• Deep understanding of investor guidelines and compliance requirements
• High attention to detail, accuracy, and documentation standards
• Ability to manage multiple deadlines and priorities in a fast-paced environment
• Effective communication and cross-functional collaboration
• Process improvement mindset with focus on risk mitigation and cost control
  
  

Preferred Qualifications

• Direct experience with GNMA (FHA, USDA, VA) Foreclosure Claims
• Claims audit, QC, or regulatory exam support experience
• Advanced Excel (pivot tables, lookups, data validation)
  
  

Key Performance Indicators (KPIs)

• Claim filing timeliness and accuracy
• Claim recovery rate and loss severity reduction
• Curtailment and denial rates
• Property preservation cost control vs. investor limits
• Vendor performance and SLA adherence
• Audit/QA results and compliance scores