Claim Processor III

Overview:

Submits conventional claims, reviews losses, and reconciles loans for final booking by Default Accounting.  Reviews claims filed for accuracy.

Primary Responsibilities:

• Monitor daily reports outlining workflow and processing needed.
• Understand difference between the claim types:  Short Sales, Foreclosure Claims, Third Party Claims, Charge Off, Security Claims, Loss Mitigation Claims, and Deed in Lieu Claims.
• Process/file claims according to investor/insurer/statutory & regulatory guidelines within assigned service level agreements.
• Review and ensure all invoices are included with the claim.
• Research loan history for advances and deposits.
• Contact various internal departments for clarification on advances.
• Review and Consult with the Mortgage Insurance department regarding refunds. Review and consult with the Hazard department on the disbursement of hazard insurance proceeds.  Determine if refunds are needed.
• Respond to attorney loan level requests.
• Ensure system is updated accurately before moving the loan to the next phase of the Claim process.
• Review claims completed by processors for accuracy and submits to investor.
• Work with Foreclosure, Loss Mitigation, Bankruptcy, Evictions, Collections, Property Preservation, and others to reconcile the losses/book the losses.
• Reconcile loans for final loss allocation, approving the loss amounts. Reconcile loans for final refunds to investor or prior servicer.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Scope of Responsibilities:

This position interacts with internal M&T Bank departments and external third-party Attorney Firm vendors.

Education and Experience Required:

A combined 4 years’ higher education and/or work experience, including a minimum of 2 years’ Default experience. 

Organized and detail oriented.

Strong verbal and written communication skills.

Strong customer service skills.

Education and Experience Preferred:

5 years’ Default experience.

Full processing knowledge of all disposition types.

Knowledge of M&T Bank systems.

Location