FHA Loss Analyst

Freedom Mortgage; New York (NY); On-site; USD 43,000 - 50,000; Full time

Benefits offered by this job

401(k) plan with company match

PTO and benefits package

Job summary

Freedom Mortgage is seeking an Analyst, Loss Analysis to perform loss analysis, QC reviews, and ensure compliance with insurer requirements. The role includes rebutting curtailments and preparing loss analysis reports for management and audits.

The analyst will coordinate with vendors and internal teams, maintain documentation, and complete monthly write-offs after funds are received, all while meeting regulatory timelines.

Qualifications

• Bachelor’s Degree preferred; experience in rebuttal of compensatory fees and curtailments is a plus.
• High School diploma or equivalent required; 5+ years in claims processing, loss analysis or audits preferred.

Responsibilities

• Perform loss analysis and QC reviews to ensure compliance with insurer requirements.
• Rebut insurer curtailments for government insured filed claims and assist in loss mitigation.
• Prepare loss analysis reports and respond to auditors with rebuttal findings.
• Complete monthly write-offs of remaining balances after funds received.
• Coordinate with vendors and internal teams; ensure invoicing compliance and adherence to regulations.

Skills

Excellent communication skills

Attention to detail

Analytical and problem solving

Time management

Ability to meet deadlines

Teamwork

Microsoft Office experience

Education

Bachelor's Degree

High School diploma or equivalent

Tools

Excel

Word processing

Job description

Summary

The Analyst, Loss Analysis is responsible for the QC, audit and oversight of claims filed. It is the Analyst’s duty to ensure that all claims comply with investor and insurer requirements and assist in the reduction of loss exposure to the Company. The Analyst will provide claims loss analysis reports weekly, monthly or as determined by management. In instances where a claims error is identified, a supplemental claim will be filed by the Analyst.

Essential Job Functions

Complete loss analysis reviews to safeguard the servicer’s assets and insure compliance with insurer requirements

• Analyze and rebut insurer curtailments for all government insured filed claims, including but not limited to conveyance, claims for advances, loss mitigation and non conveyance claims
• Quality Control review for Default Claims, including supplemental claims to reduce loss exposure and provide loss analysis reports
• Assist in compiling claims data for government claims audits, in addition reviewing auditors findings and providing rebuttal responses
• Complete monthly write offs of remaining balances once all claims and supplemental funds received on an account
• Act as a subject matter expert to the claims department to insure compliance on all claims filings
• Correspond with vendors and site employees
• Act as a point of contact/liaison, ensuring that policies and procedures relating to invoicing and remittance are followed, including compliance with federal laws and regulations
• Demonstrates professional behavior and teamwork, is punctual, dependable and adheres to Company policies and procedures
• Ability to work necessary hours to ensure success
• Maintain regular and punctual attendance.

Other Duties

Performs other related duties as assigned.

Supervisory Responsibilities

This job has no supervisory responsibilities.

Qualifications

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

• Strong understanding of FHA, VA and GSE claims guidelines
• Excellent organization skills
• Attention to detail with a high level of accuracy
• Excellent communication skills
• Analytical and Problem Solving skills
• Works well in a team environment
• Ability to meet deadlines in a fast paced environment
• Ability to manage time well and prioritize tasks
• Microsoft Office experience and advanced Excel knowledge
• Ability to effectively present information to supervisory, etc.
• Ability to write reports and correspondence
• Ability to read, analyze and interpret documents such as technical journals, financial reports, legal documents, policies and procedures
• Ability to calculate basic financial figures and amounts
• Proficient in computer skills and knowledge of word processing, spreadsheet, accounting, general ledger, accounts receivable, accounts payable, e-mail and internet software
• Ability to define problems, collect data, establish facts, and draw valid conclusions
• Ability to work with little supervision.
• Ability to meet critical departmental and federal timelines with accuracy and efficiency.
• Ability to build relationships with both internal and external clients/vendors.
• Strong work and business ethics

Education and/or Experience

• High School diploma or equivalent required.
• Bachelor’s Degree from a Four (4) year College or University preferred.
• Minimum of five years of experience in the rebuttal of compensatory fees and curtailments process, investor claims processing, auditing and loss analysis reporting; or equivalent combination of education and experience.
• An in-depth understanding of all government regulations pertaining to claims filing and reimbursement.

Language Skills

Ability to read and comprehend instructions, correspondence, memos, and work place policies. Ability to analyze, interpret general business periodicals, professional journals, procedures and governmental regulations. Ability to write professional correspondences. Ability to write routine business reports. Ability to speak effectively with other employees and/or customers. Ability to present formal information in one-on-one and small group situations to customers and employees. Ability to present information and respond to questions from groups of administrators, managers, employees, customers and/or the general public.

Mathematical Skills

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability

Ability to carry out detailed written and/or verbal instructions. Ability to solve problems involving concrete variables in standardized situations. Ability to define problems collects data, establish facts, and draw valid conclusions.

Certificates, Licenses, Registrations

None required.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant elements. The noise level in the work environment is usually moderate.

Equal Employment Opportunity

Freedom Mortgage is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information or any other basis protected by applicable federal, state, or local laws.

Americans with Disabilities Act

Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-basis in accordance with applicable law.

Job Responsibilities

The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. Freedom Mortgage Corporation may change the specific job duties with or without prior notice based on the needs of the organization .

#LI-AC1The estimated base pay for this role is one part of our total compensation package and is determined within a range. The estimated base pay for this position is the annualized equivalent of $43,000.00 - $50,000.00, depending on experience, qualifications, market location, and other job-related factors. Excellent benefits package including but not limited to PTO, medical, dental, vision, 401(k) plan with company match, life insurance, long term and short-term disability options, FSA/HSA, tuition reimbursement, and other voluntary benefits.