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.
During the claim process, Radian may perform a Mortgage Servicing quality review for a particular claim. This review is focused on specific quality requirements of the GSE’s (Fannie Mae and Freddie Mac) that the Servicer is obligated to perform to assure the borrowers were appropriately offered available alternatives to foreclosure. The result of these quality reviews may lead to a curtailment or denial of a claim if the servicing quality is not in conformity to Radian’s Master Policy with said Servicer. The curtailment will be a percentage reduction to the eventual claim paid and explained on our Explanation of Benefit at time we pay the claim.
This individual will be responsible for a de novo review of the original curtailment decision, should the Servicer decide to appeal. Their responsibility would be to review all levels of mortgage servicing quality, included but not limited to, activity on collection, loss mitigation, foreclosure, and bankruptcy.
The candidate should have industry knowledge on all Treasury Department Loss Mitigation and Foreclosure Alternative programs and be able to determine, through research, whether or not a Servicer was in compliance and offered the borrower the right alternatives, based on the facts at hand. With those facts, the specialist should be able to arrive at a decision to uphold the original curtailment of claim payment, or agree that supporting documentation exists to overturn the original curtailment and recommend a supplemental claim payment up to but not exceeding the original curtailment.
1. Reviewing lender/servicer curtailment appeals for accuracy as it relates to compliance with Treasury standards for mortgage servicing.
2. Writing concise, accurate, appropriately detailed correspondence which conform to grammatical and punctuation conventions and deliver same to management, as well as internal and external customers, detailing audit findings and audit review results.
3. Researching GSE Mortgage Servicing Standards through AllRegs or other resources to ensure Radian’s curtailments are well-supported by industry standards and according to our Master Policy.
4. Responding to and working with our Servicer/Customer as it relates to email, telephone, and written inquiries. This could include presenting Radian perspective during conference calls, as well as providing additional documentation, as needed, to provide the necessary documentation to satisfy a customer dispute.
Knowledge, Skills and Abilities:
1. Experience is required in all levels of mortgage servicing, especially as it relates to collections, default, loss mitigation processes, foreclosure, and bankruptcy.
2. Demonstrated mortgage servicing leadership having proactively worked with lenders and servicers to stay abreast of loss mitigation environment guidelines, pending changes, and industry best practices
3. Experience in handling appeal of claims and drafting of correspondence advising of the salient facts and rationale used in affirming or denying such claim/appeals.
4. The candidate should be experienced with:
a. AllRegs as a resource for validating standards
b. Current working knowledge of GSE default mortgage servicing standards such as HAMP, HAFA, HARP, etc.
c. The role of Mortgage Insurance as it relates to default servicing
d. Reviewing Servicer-provided mortgage loan servicing documentation
5. Excellent verbal and written communication, presentation, and interpersonal skills
6. Strong analytical, reasoning, negotiating, and decision-making skills
7. Proven ability to work independently as a subject matter expert (SME) with well- thought decision making ability.
8. Working knowledge of Microsoft Office programs (Word, Excel, Access, Outlook)
9. Ability to analyze and react to different scenarios
Experience: 5-7 years related (mortgage) experience
Education : Bachelor's degree preferred, commensurate work experience may be accepted in lieu of formal degree.
Radian Group Inc. - 16 months ago