Claims Specialist
Radian Group Inc. - Philadelphia, PA

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About Radian:

Headquartered in Philadelphia, Radian connects lenders, homebuyers, investors and loan servicers using a suite of private mortgage insurance and related risk management products and services. We help promote and preserve the tradition of homeownership while protecting lenders from default-related losses on residential first mortgages. We also facilitate the sale of low-down payment mortgages in the secondary market.

Our commitment to homeownership is built on a foundation of evaluating credit risk; we help clients and investors expertly and prudently manage risk in any market condition.

Position Summary:

Managing, from claim receipt through claim disposition, a pipeline of outstanding first lien, primary and pool mortgage insurance claims; ensuring through knowledge of default and servicing practices and Radian policies and procedures, that all claims are disposed timely and that those paid are valid and accurate.

Responsible for the analysis of each claim, ensuring that it is settled in accordance with the governing documents, be it the Master Policy or various specific pool policies and special risk agreements, and that any errors in the claim submitted are identified and corrected as well as identifying and initiating adjustments for servicing deficiencies on the part of the servicer submitted claim.

Primary Duties and Responsibilities:
  • Pay valid claims in an accurate and timely manner.
  • Validate and analyze claim information to decision the appropriate settlement for 1st lien primary and supplemental claims.
  • Review special risk policies and the policy database to determine if there are any policy violations and also enforce Radian’s rights on restoration.
  • Manage a pipeline of opened claims to ensure they are moving through the process timely and in accordance to the policy guidelines.
  • Thorough review of all aged claims to avoid paying late claims which result in simple interest.
  • Request claim specific documents through our document management system and follow up for information and/or documentation needed to settle the claim.
  • Review and analyze all documents for accuracy and completeness.
  • Respond on a timely basis to disputes received from lenders regarding claim adjustments and curtailments.
  • Be able to multi task through various systems for specific claim information in order to process the claim for payment or denial.
  • Pursue activities needed to mitigate loss.
  • Identify and resolve timeline issues by reviewing servicing notes from various sources to ensure the foreclosure sale was held in accordance to state guidelines.
  • Analyze and adjust claims for allowable claimable expenses; prorate taxes and insurance and review claimed expenses to ensure they are claimable per the applicable policy.
  • Update and maintain data integrity in the system of record and the claims access database.
  • Identify and refer purchase reviews to the REO team which may result in an acquisition for Radian.
  • Identify and refer to management, servicing deficiency cases for possible adjustment for harm incurred or for claim denial.
  • Interact with departments such as Negotiated Settlement Team and Loss Mitigation for loans that are not in compliance with our guidelines.
  • Identify through information from lenders or servicers and refer Compliance issues to SIU (Special Investigations Unit) for additional review and possible rescission.
  • Maintain client relationships from a customer service perspective (includes handling of pre-claim default-related inquiries such as Master Policy explanations, bidding instructions, claim filing questions, etc.).
  • Assist Claims Management with special projects as needed to effectively manage the Business.
  • 2-4 years mortgage experience required . Key skill sets from mortgage processing and/or default experience.
  • Associates or Bachelor's degree preferred.
  • Thorough understanding of mortgage default-related processes, including collections, foreclosure, bankruptcy and REO (HUD-1 analysis).
  • Good analytical and decision-making skills.
  • Working knowledge of e-mail (preferably Outlook), Word, Excel and Access applications.
  • Excellent verbal and written communication skills
  • Ability to meet deadlines as needed in a high-volume, fast-paced environment