Supervisor, Default Reverse Servicing at PHH Mortgage in West Palm Beach, Florida

Posted in Other 15 days ago.

Job Description:

Job Description

As an established leader in the Reverse Mortgage Origination space, PHH is excited to be building a best in class Reverse Mortgage Servicing platform. This platform will service our own originated product and ultimately provide outstanding servicing to third-party clients. Over the coming months, we will be building out the Servicing platform and leveraging our existing infrastructure wherever possible. Come join our team and get in on the ground floor to be a part of this exciting opportunity. We are looking for motivated, talented individuals that thrive in a fast-paced environment that are eager to be part of this new team.

Reporting to the Manager, Default Reverse Servicing, the Supervisor, Default Reverse Servicing, is responsible for ensuring proper loss mitigation processes are deployed across the Reverse Servicing business unit. Focus areas will include establishing processes surrounding borrower and heir outreach efforts to engage in sound payment plans when appropriate and other loss mitigation efforts such as Deed-in-lieu and short sales. In addition, manage other default related activities such as property preservation, REO and Foreclosure Referral functions.

Job Functions and Responsibilities
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily:

  • Maintains knowledge of HUD regulations and guidelines regarding the claim procedure
  • Determines if claim should be filed based on paid in full status
  • Validates key dates and information on HUD 27011 form (part A) are accurate and ensures supported documentation is included
  • Makes allowable corrections on HUD 27011 form, as necessary
  • Verifies mortgagee comments on HUD 27011 form are accurate
  • Notifies management regarding changes that need to be updated through HUD
  • Ensures appropriate appraisals are utilized
  • Verifies all information included on the HUD-1form
  • Verifies that taxes and insurance were prorated and refunded accordingly
  • Verifies applicable extensions and repayments
  • Verifies all support documentation is included for property preservations that exceed the HUD allowable amount (50002, Repair Base, and Cost Estimator)
  • May have to request additional support documentation from outside parties if not available/sufficient
  • Ensures accuracy of claimable expenses
  • Follows-up with the responsible party to ensure fatal errors are corrected
  • Ensures all documents are sequentially placed in order according to HUD requirements
  • Documents the claims database and Navigator with the status of the claim
  • Submits claims in the Hermit system
  • Assists management with HUD audits, as necessary
  • Determines if the HUD refund request is valid
  • Validates key dates and information on the HUD refund request are accurate and ensures supported documentation is included
  • Makes allowable corrections on HUD refund request, as necessary
  • Ensures appropriate debenture interest and UPB is utilized
  • Verifies debenture interest calculations and dates are accurate
  • Verifies that curtailment worksheet is validated and signed off by the certification team, if applicable
  • Ensures all applicable debenture interest calculation schedules are in the claim/refund request as applicable
  • Follows-up with the responsible party to ensure corrections are made
  • Submits the HUD refund to senior management for sign off approval
  • May have to monitors the Cash department to ensure all refunds are processed and image
  • May have to maintain and update HUD refund tracking report
To perform this job successfully, an individual must have the following education and/or experience:
  • High school diploma, GED, equivalent certification, or military experience
  • 5+ years of mortgage servicing experience
  • 4 years of experience within default, foreclosure and/or bankruptcy or 4 years of claim experience and/or accounts payable
  • Detail-Oriented
  • Ability to calculate basic to complex financial figures
  • Ability to communicate verbally and in writing
  • Ability to research and collect data
  • Ability to solve problems
  • Ability to adapt to change
  • Proficient in Microsoft Outlook, Word, Excel, and Adobe Professional
Training / Licensing Requirements

Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
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