Claims Processor

General Function

Responsible for completing and filing investor/insurer claims within required guidelines in order to recoup 5/3's investment in the property, may include loan principal, accrued interest, and corporate or escrow advances, as well as bank incentives for timely filing, made during the life of the loan to properly protect the investors collateral interest in the property.

The residential mortgage portfolio is currently at 325,000 loans, 75% of which are investor owned and/or insured that require the completion of a claim upon completion of the default cycle. This results in approximately 200 claims being filed on a monthly basis and $30.0 million being recouped and applied annually.

Duties & Responsibilities

• All Claims started within five business days of receipt from loss mitigation or foreclosure.
• Filing of all investor/insurer claims within required guidelines to reduce exposure to curtailments and/or fines.
• Track all claims monthly for status update and/or proceeds.
• All claims proceeds posted per investor/insurer requirements within 48 hours of receipt includes posting principal, interest, escrow, other advances, buydown funds, unapplied funds, up to $1 million per week.
• Close out accounts to ensure all balances equal to zero through chargeoff and correct the appropriate MortgageServ system settings.
• Work with attorney network to ensure evictions, redemption, title issues, mobile home issues, conveyances and reconveyances are handled with due diligence to reduce exposure to curtailments and/or fines.
• Work with property preservation vendor, hazard claim vendor, claims outsourcing vendor, city officials, etc. to ensure that the properties are being maintained to investor/insurer requirements.

Supervisory Responsibilities

None

Minimum Knowledge, Skills And Abilities Required

• High school diploma.
• Good organization skills.
• Math skills.
• 0-2 years mortgage default or mortgage servicing related experience.
• Prior PC experience to include advanced Excel, Word and Access.

Benefits

Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html.

Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.