What are the responsibilities and job description for the Default Reporting and Reimbursement Associate position at University Bank?
Description
General Job Summary
The Reimbursement & Reporting Associate is responsible for monthly default reporting and the reimbursement of funds from GSEs, PMI companies, investors, etc. The position also processes corporate advances and completes other duties as assigned.
Summary of Essential Job Functions
- Maintain, monitor, and submit monthly default reporting to various investors, insurers, and agencies.
- Review and implement default reporting changes and updates within the servicing system.
- File reimbursement claims on FHA, VA, PMI, FHLMC, FNMA, ALS, FHLB, HUD, and Rural Housing loans.
- Monitor and follow up on filed claims on a regular basis, filing supplements/corrections as needed.
- Analyze and process claims payments.
- Record and ensure payment of corporate advances on all loans, including highly time-sensitive payments.
- Assist in creating and maintaining departmental procedures.
- Work with investors & other departments to resolve outstanding issues.
- Process correspondence for reimbursement department.
- Keep abreast of agency changes that may impact claims/reporting functions.
Other Job Functions
- All other duties as assigned by management
Requirements
Education, Training and Work Experience
- High school diploma (or equivalent) required
- 1-3 years previous experience in default reporting required
- 1-3 years previous experience in mortgage loan servicing highly desired
- 1-3 years previous experience in collections and/or default servicing highly desired
Knowledge, Skills and Abilities
- Maintain & foster positive relationships with customers and business partners
- Complete all assigned training in a timely manner
- Provide professional communication in both oral & written expression
- Excellent organizational, time management & analytical skills
- Ability to manage and maintain confidential information
- Able to communicate & negotiate effectively
- High degree of accuracy
- High degree of dependability
- Able to effectively problem solve and use critical thinking
Working Environment
Primary working environment is within an indoor climate-controlled office space. Employee may be subject to florescent lighting, dust, and other normal indoor-allergens. Employee will work in close proximity of coworkers and occasionally independently in quiet environments.
Physical Requirements
- Able to lift up to 20 pounds
- Travel by foot in outdoor environments where it can slippery/etc.
- Extended periods of sitting (at computer desk)
- Complete repetitive tasks (including operation of computer mouse/keyboard)
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
**University Bank is an Equal Opportunity / Affirmative Action Employer**