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Specialist, HERMIT Reconciliations Reverse Servicing

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Job ID: 1001501
Company: PHH Mortgage

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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 where ever 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.

Key role within the Reverse Servicing organization by ensuring the data integrity and balancing of the HERMIT (HUD Reverse Servicing System) as compared to Reverse Quest (the PHH Reverse Servicing System). Each day any differences identified between the two systems will need to be researched and corrected to ensure there are in balance.

JOB FUNCTIONS AND RESPONSIBILITIES:

  • At a minimum, once each a report will be generated that will compare key fields between HERMIT and RQ. Any difference will need to be reviewed and corrected.
  • Work with business and HUD to correct any discrepancies identified between the two systems for both numeric and text fields within the two systems.
  • Perform root cause analysis on any differences identified to determine the underlining reason for differences.
  • Provide Business and the Control Department with any systemic issues identified and recommended corrective action.
  • Perform reporting to the Control Department on the frequency and types of discrepancies identified.
  • Work independently on projects and other assignments.
  • Multi-task and troubleshoot any issues that arise which may have multiple variables that fall outside stipulated guidelines and work closely within the department and with other Ocwen departments to ensure their prompt and accurate resolution.

KEY RESULT AREAS:

  • Maintain HERMIT and RQ within balance 99.5% of the times.
  • Develop meaningful action plans for any systemic issues identified.
  • Provide monthly analytics and reporting to Internal Control department by the 5th of each month

QUALIFICATIONS:

  • High School Diploma, GED, equivalent certification, or military experience
  • Minimum of two years of reverse servicing experience required
  • This position requires excellent communication skills and attention to detail
  • The ideal candidate must also be an effective communicator and problem solver.
  • Minimum of 5 years of HUD Reverse mortgage experience, specifically with the claims or HERMIT area.

About Us


Company: PHH Mortgage

PHH Mortgage, a wholly owned subsidiary of Ocwen Financial Corporation, is one of the largest subservicers of residential mortgages in the United States. PHH Mortgage provides servicing solutions to companies who own mortgage servicing rights and offers portfolio retention services to extend and enhance customer relationships.

PHH has been providing mortgage lending and servicing solutions since 1984 and is dedicated to responsible and ethical practices while delivering an exceptional customer experience. We strictly focus on subservicing and portfolio retention allowing our diverse professional clients – representing some of the largest and most recognizable financial and wealth management institutions, investors of MSRs, regional and community banks, and credit unions – to concentrate on their core businesses, while providing borrowers with exceptional customer service throughout the life of their loans.

Adhering to the highest levels of risk and compliance, built to bank-like standards, we build relationships with our clients and their customers to promote a philosophy of retaining “customers for life.” We strive to be a natural extension of each client’s team, helping them to keep their expenses down, borrowers satisfied and service levels up while meeting today’s regulatory demands and changing market conditions.

Ocwen is proud to be an equal opportunity workplace and is an affirmative action employer. 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.

This position is not eligible to be performed in the state of Colorado.

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