Note: The job is a remote job and is open to candidates in USA. Finance of America helps homeowners access home equity through reverse mortgage solutions. The Loan Administration Specialist performs transaction-level reviews, loss analysis, valuation monitoring, and exception reviews across the reverse mortgage servicing portfolio while supporting loss mitigation, recoveries, risk controls, and internal stakeholders.
Responsibilities
- Executes transaction exception reviews triggered by exception logic within FAR Loan Management system, identifying potential incidents, aligning transaction codes with HERMIT and capturing borrower recoverability and HUD claim ability
- Performs transaction-level loss analysis reviews of HECM claims to identify losses, root causes, and recovery opportunities
- Assists in tracking loss trends across the servicing portfolio and projecting financial impacts for senior leadership
- Supports loss mitigation analytics and governance, including tracking potential incidents identified through transaction-level reviews, escalating exposure to management, and contributing to meetings that evaluate mitigation strategies
- Monitors property valuations across the servicing portfolio, reviewing appraisal and BPO exceptions that result in high-variance outcomes impacting loss severity, decisioning, and recoveries
- Utilizes valuation benchmarks to monitor local market trends and track valuation factors for loss analysis
- Reviews property valuation exceptions with a focus on property preservation and risk analysis
- Follows key performance indicators (KPIs) in coordination with management
- Monitors monthly performance exception/issue reporting for the subservicer
- Ensures deliverables for internal business projects by providing timely and accurate updates to stakeholders
- Remains abreast of industry trends, products, technologies, best practices, and standards of conduct
- Mentors and trains peers and vendors as assigned
- Follows written risk and compliance policies and procedures for business activities
- Performs other duties as assigned
Skills
- Minimum 3 years of experience in the mortgage servicing industry (e.g. call center, default, foreclosure, bankruptcy, real estate owned (REO), and/or vendor management. Experience with reverse mortgages would be ideal
- Strong knowledge and understanding of mortgage industry as it relates to one or more of the following areas: Claims, default, complaints management, borrower experience journey, reverse, forward and commercial products
- Open communication, teamwork, and high performance
- Strong interpersonal skills and must be a team player
- Analytical, critical thinking, and problem-solving skills with a customer service orientation
- Sound Microsoft Office experience (i.e. Excel, Word, Outlook) and adapting to new technologies and applications while navigating multiple screens
- Bachelor's Degree or comparable qualifications
- Business, Finance, or equivalent field
- Demonstrated experience working with cross-functional leadership is preferred
- Experience with GSE agency guidelines, CFPB regulations and FHA/HUD requirements is preferred
Benefits
- Health insurance
- Dental insurance
- Vision insurance
- Life insurance
- Paid time-off benefits
- Flexible spending account
- 401(k) with employer match
- ESPP
Company Overview