Associate, MI and Conventional Claims in Bengaluru at Ocwen Financial Corporation

Date Posted: 8/27/2019

Job Snapshot

  • Employee Type:
  • Location:
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
  • Job ID:

Job Description


Position Summary:

Processing requires analyzing claims to Fannie Mae, FHLMC or other investors to recover advances incurred throughout the default process.
The Claims Specialist will analyze the required claims; resubmit denials and be subject to audits of claims processes for validation.


An Loss claims analyst analyses the advance reimbursement claims filing and all other associated activities to GSEs (Freddie Mac, Fannie Mae) and RFC on loans triggered through a disposition. These activities include but are not limited to:
•Construct escrow, corporate and NBB (Non Borrower Billable) advance history of the loan utilizing and researching data from MSP, REALServicing, Stage5, Vault documents, prior servicer applications or other sources as applicable. Reconciling prior servicer balances & identifying duplicates.
•Reconcile advance transaction history against outstanding advance balances in the applicable receivable GLs (General Ledger Accounts). Identifying credit amounts and applying credit amounts to reduce outstanding balances.
•Analyze and identify the advance transactions reimbursable by the investor according to GSE/RFC guidelines
•Source all required documentation from CIS, Vault, prior servicer systems or other sources available. If documentation is not received via any system, reach out to the BU and prior servicer where applicable, who incurred the expense to get the documentation
•Keep track of such documentation requests and escalate to management in cases of non-availability of documents and subsequent risk of claim denial
•Analyze and action on denied claims and resubmit claims to GSEs/RFC as applicable after researching the denial reason and investor guidelines with compelling reasons.
•If no recourses remain to get reimbursed by the investor, prepare loss claims to be submitted to prior servicers and/or vendors for bill backs.
•Perform loan level GL reconciliation to identify variances in outstanding GL balances on the loan and perform clearing action if required; clearing action could be to write off the balance, book as income or return to investor (E2/E3)
•Coordinate with partner Business Units to track denied advances for recoverability within the BU from vendors or other third parties (E2/E3)
•Perform loss analysis on denied advances; conduct root cause analysis and identify associated action plans through discussions with associated BUs. Track such action plans identified to closure for reducing future losses (E2/E3)
•Operating with the Quality Assurance guidelines set forth by claims senior management.

Key Result Areas:

•SQL/Python coding knowledge is a plus and will be preferred
•Prior experience in Mortgage servicing industry; exposure to GSE (Freddie Mac / Fannie Mae) portfolios would be an added advantage
•Hands on experience in reconciling accounts or experience in claim filing processes



• B Com / M Com graduates with database coding skill
• Ability to reconcile complex advance histories and receivable accounts
• Analytical mindset to scrutinize advance transactions and identify claimable transactions per investor guidelines
• Excellent communication skills, especially written communication
• Proficiency in MS Excel, MS Word

Work Schedule: 12pm to 9pm

Ocwen is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity & Inclusion ensures that we are an organization that creates, promotes and sustains an inclusive work environment in which diversity, inclusiveness and respect are integral parts of our culture and work environment. Building the reputation as an outstanding place to work, a great business partner and a valued community member is our everyday endeavor.

Ocwen’s mission is to delight our customers through caring service and innovative lending solutions. We proudly serve over 1.3 million families with their mortgage needs by helping to find real solutions that benefit our customers and help to build stronger communities. Helping Homeowners is What We Do!®

Consider an opportunity to join our global team and put “Caring in Action” while growing your career.

Ocwen and its subsidiaries are proud to be equal opportunity workplaces. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Primary Location: IN-KA-Bangalore
Work Locations:
Bangalore Pritech 2 (PTECH-2)
Pritech SEZ Park, Block Number 12
5th Floor B Wing and 6th Floor A WingBellandur Village, Sarjapur Marathahalli Ring Road
Bangalore, 560103

Job: Residential Servicing
Organization: India Business Unit
Schedule: Regular
Job Posting:


  1. Customer Service Jobs
  2. Collections Jobs