Under the supervision of the Manager, Investor Claims, the Senior Legal Fee Analyst will be responsible for the reconciliation and compliance audit of legal fees and costs as it pertains to Home Equity Conversion loans. The audit will result in confirmation that the legal fees and costs are in compliance with the appropriate Mortgagee Letter issued by HUD. This data will be utilized by the claim's department.
Job Functions and Responsibilities
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
- Maintains knowledge of HUD regulations and guidelines.
- Responsible for preparing a full reconcilement of legal fees and costs.
- Responsible for the collection of disbursement data for legal fees and costs from various systems or departments to support the reconciliation process
- Audit the reconciliation of all legal fees in costs and compare to the appropriate Mortgagee Letter for allowable types/limits.
- Analyze over allowable limits to determine if the amount was justified in accordance with HUD Guidelines.
- Research discrepancies or variances to ensure all reimbursable fees and costs are identified.
- Responsible for the collection/ordering/follow-up of missing invoices from Prior Servicer or Attorney.
- Interact/support internal departments
- Have a good understanding of the FHA Claim filing requirements
- Any other job responsibilities requested by management.
To perform this job successfully, an individual must have the following education and/or experience:
- Bachelors' degree in Finance, Business, or equivalent practical experience is preferred
- 3 - 5 years of Mortgage experience required
- Reverse Mortgage experience preferred
- Foreclosure experience preferred
- Experience in filing HUD /claims (preferred)
- Experience analyzing and reconciling financial claims
- Proficient in Excel
- Experience in working with large volumes of data
- Proven ability to exercise judgement and make sound decisions
- Ability to write clearly and concisely
- Ability to effectively communicate with peers and Senior Leadership
- Proven ability to research and interpret information and to act proactively
- Must demonstrate attention to detail and ability to multi-task and work under pressure with a sense of urgency
- Must have a professional attitude, demonstrate mature judgement and adherence to business controls and external regulations and be self-motivated and cable of working autonomously.
- Problem solving skills
- Excellent communication skills as well as strong reading comprehension and analytical skills
Training / Licensing Requirements
Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
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.