Default Loan Serving Specialist - Claims - ServiceMac

About Us

ServiceMac is a new sub-servicing entity backed by leading practitioners of the mortgage servicing industry. We focus on providing superior technology, products, and services for the mortgage and real estate industries, supported by highly personalized service. Through continuous innovation and acquisition, our offerings include personalized solutions spanning the mortgage continuum to enhance security, compliance, customer satisfaction, and profitability. Our inclusive, people-first culture has earned us accolades, including being named to the Fortune 100 Best Companies to Work For® list for eleven consecutive years. We have also been recognized as a best place to work for women, diversity, and LGBTQ+ employees, and have appeared on over 50 regional best places to work lists.

About the Role

The Default Loan Servicing Specialist is responsible for servicing mortgage accounts and managing default claim activities in compliance with all applicable federal, state, investor, insurer, agency, and company requirements. This role performs a variety of default claims servicing functions within established timelines and workflow processes to ensure accurate claim filing, minimize risk, and support operational performance goals. The ideal candidate will have thorough working experience filing GNMA claims and a strong understanding of default servicing, loss mitigation, and investor/insurer requirements.

Responsibilities

• Service mortgage accounts to ensure all applicable activities are processed in compliance with state and federal laws, as well as Investor, Insurer, Agency, and company guidelines.
• Order, review, and maintain loan documents, including signing documents needed to proceed within the default process.
• Conduct a complete review of files to ensure all applicable timeframes have been met in the relevant processes managed.
• Manage loan-level requirements on assigned cases by interacting with and instructing various parties such as mortgagors, attorneys, investors, insurers, trustees, appraisers, clients, and others involved in the default process.
• Review proceedings, records, and timeframes, and manage all system/database activities throughout the process.
• Diligently follow up on outstanding requests and telephone calls from internal and external partners.
• Perform required research on loans with questionable items, such as the application of payments, proper notification, and other situations that may arise.
• Manage exception reporting used as key controls for minimizing risk.
• Prepare, validate, and deliver accurate default service reports, ensuring data integrity and adherence to investor, agency, and regulatory requirements.
• Analyze default portfolio trends and performance metrics, identify data variances or risks, and partner with operations, compliance, and management to support decision-making and continuous process improvement.
• Ensure claims are filed accurately, timely, and in compliance with applicable federal and state regulations, as well as investor, insurer, agency, and company guidelines.
• Process GNMA claims, including FHA, USDA, and VA Loss Mitigation claims, along with supplemental claims and appeals as applicable.
• Monitor and manage loans within assigned claims queues to ensure all required milestones and deadlines are met.
• Identify portfolio trends, operational risks, and process improvement opportunities, and communicate findings to management.
• Stay informed of regulatory, investor, insurer, and state law changes that may impact claim processing activities.
• Proactively follow up on outstanding requests and inquiries from both internal and external business partners.
• Prioritize workload effectively to ensure timely, accurate resolution of claims and related servicing issues.
• Maintain high levels of quality, accuracy, and attention to detail while adhering to established procedures and service-level expectations.
• Collaborate with team members and provide support across the department as business needs require.

Requirements

• 1+ years of experience with GNMA Claims.
• Demonstrated experience filing GNMA claims, including FHA, USDA, and VA Loss Mitigation claims.
• Working knowledge of MSP, LoanSphere Claims, FHA Connection, Catalyst, LINC, and VALERI.
• Ability to interpret and navigate investor, insurer, and agency servicing guides to obtain information necessary for claim processing.
• Strong research and problem-solving skills, with the ability to gather required documentation and resolve issues within established timelines.
• Solid understanding of the mortgage default servicing lifecycle, including foreclosure, bankruptcy, loss mitigation, and eviction processes.
• Exceptional attention to detail and commitment to compliance with established policies, procedures, and regulatory requirements.
• Ability to work independently, exercise sound judgment, and manage assignments through completion with minimal supervision.
• Strong organizational and time-management skills, with the ability to manage multiple priorities in a deadline-driven environment.
• Excellent verbal and written communication skills, with the ability to build effective relationships with internal and external partners.

Candidates selected for employment will be required to successfully complete a background check and credit check as a condition of employment, where permitted by applicable law.

Pay

$23.37 - $31.15 hourly

Benefits

First American offers a comprehensive benefits package based on eligibility, including:

• Medical, dental, and vision coverage
• 401k retirement plan
• PTO and paid sick leave
• Employee stock purchase plan

We embrace and support individuality, fostering an authentic and inclusive workplace for all. First American is an equal opportunity employer in every sense of the term.