Claims Specialist

Position Summary

Responsible for managing all claims activities across various investors. Ensures claims are filed accurately and timely, documentation is complete, payments are reconciled, and all related loan-level activities are carefully reviewed and resolved.

Responsibilities

• Processes and tracks defaulted and loss mitigation claims from referral through payment and closure, ensuring required timelines and guidelines are met.
• Maintains claim referral triggers and submits claims to vendors or files claims in-house as required, including USDA claims using the LINC system.
• Reviews claim files to ensure all required supporting documentation is complete and uploaded to AIQ; requests missing documentation from internal departments as needed.
• Follows up on claims to confirm status, escalates suspended or delayed claims to vendors, and assists with corrections to support timely payment.
• Reviews claims for payment, updates systems to reflect paid status, and determines when claims and loan files can be closed.
• Tracks claim deadlines and follows investor, insurer, and program requirements, including VA (VALERI), FHA, MI companies, USDA, and GSE guidelines.
• Maintains investor, insurer, and vendor claim portals for requests, updates, and payments; provides requested information and documents in a timely manner.
• Aids in loss analysis by reviewing loan data to identify reimbursable amounts, supplemental claims, remaining balances, write-offs, and possible billback opportunities.
• Prepares and submits post-title packages to VA and FHA and follows up with attorney firms to meet required deadlines.
• Requests investor payments for demands, BOCs, overpayments, refunds, and reimbursements; coordinates with cash management and provides posting instructions as needed.
• Monitors third-party funds and follows up with attorney firms on aged balances.
• Uses reports to track claim volume and reconciles internal records with claims vendor reporting.
• Maintains department inboxes and responds to internal and external inquiries within established service standards.

Requirements

• Experience in the Mortgage industry preferred.
• Mortgage claims experience required.
• Loss analysis experience required.
• MSP/BK Mortgage Servicing system knowledge preferred.
• Experience working within investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA required.
• Experience working within Federal and State regulations related to Mortgage Servicing.
• Knowledge of Microsoft Office applications with extensive usage of Excel; formulas & pivot tables.
• Bachelor’s Degree preferred.

About LoanDepot

loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.