What are the responsibilities and job description for the Remedy Underwriting Analyst position at Ocwen Financial Corporation?
Job Description
The Investor Repurchase Business Unit conducts a loan review for all repurchase requests made by Investors for Representation and Warranty violations and all NOD or rescissions issued by MI providers. Issues identified in the repurchase demand or MI notification are investigated to determine if the request has merit. The senior analyst will assess the claims made by the investor or MI carrier and make a risk-based decision whether repurchase is necessary or rescission is warranted. Management will perform a multi-level review of repurchase decisions. Appeals will be issued to investors or MI companies at the discretion of the senior analyst when warranted.
This position will be responsible to bring loans to final resolution and work with Repurchase Operations, Investor Reporting and Transfer Management to request funding for repurchases and complete the repurchase cycle. The Analyst will manage an individual pipeline of repurchases and / or MI rescissions. The position will partner with other business units to achieve efficiency and effectiveness.
Job Functions and Responsibilities :
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
- Review repurchase demands and Mortgage Insurance rescissions as assigned by department team lead or manager and determine appropriate course of action.
- Use business and analytical skills to draw information from loan documentation, as well as origination and servicing systems. Expected to formulate a concise and risk-based appeal, or provide a succinct, fact-based summary of why repurchase is warranted.
- Input data / information into a comprehensive database that tracks repurchases.
- Ability to manage daily workflow for repurchases to ensure repurchase demands and MI rescission do not age beyond prescribed time limits.
- Strong underwriting knowledge / experience required and basic servicing experience preferred.
- General knowledge of Capital Markets, Servicing, Secondary Market Function, Mortgage Loan Origination Process, Foreclosure, Bankruptcy and Title Insurance
- Excellent communication skills and ability to interact with correspondents, investors, and internal parties in an informative and professional manner.
Primary customers of this position and type of contact :
Qualifications :
To perform this job successfully, an individual must have the following education and / or experience :
Training / Licensing Requirements :
About Us
Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.
PHH Mortgage, a subsidiary of Onity Group Inc., has been providing mortgage lending and servicing solutions since 1984 and is dedicated to maintaining responsible and ethical practices while delivering an exceptional customer experience. PHH offers industry-leading mortgage solutions for the entire mortgage lifecycle, including correspondent lending, MSR / Co-Issue, subservicing, commercial servicing, reverse mortgages and portfolio retention. We are one of the largest subservicers of residential mortgages in the United States and one of only two servicers in reverse mortgage lending.
At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.
Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. 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.
Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.
