Foreclosure Processor Salary Jobs in Rantoul, IL

Claims Specialist I is responsible for preparing, filing and following up on all FHA, USDA, VA, FNMA, FHLMC, VA, MI, and investor claims timely and accurately according to investor/insurer guidelines. They must perform all tasks associated with the claims process, from initial claims filing to final loan liquidation. The specialist is also responsible for ensuring proper adherence to Investor and Insurer policies, procedures, and timeframes in order to minimize risk, preserve and protect collateral, and limit loan related expenses.
About Servbank:
Founded in 1994, Servbank is a banking institution with local roots and national reach. We were built on a foundation of community-orientation, which ensures that no matter who we serve, we do so with the human touch that marks the gold standard of service. We work with individuals, businesses, and communities, so that whether you're a student, a homeowner, a small business owner, or a community leader, we can help you fulfill your goals. Come create excellence with Servbank.
Duties and Responsibilities

• Prepare, submit, and track FHA, VA, USDA, FNMA, FHLMC, PMI, and investor claims accurately and within required timeframes.
• Perform detailed loan-level reconciliations comparing amounts claimed, amounts paid, and outstanding indebtedness (including escrow and corporate advances).
• Prepare and submit supplemental claims as necessary, coordinating with foreclosure, loss mitigation, and bankruptcy teams to obtain required documentation.
• Partner with the Escrow Department to verify taxes and insurance are maintained, paid timely, and canceled or endorsed in accordance with investor and insurer requirements.
• Document all claim-related activity accurately and thoroughly within the Claims Pipeline Sharepoint.
• Conduct timely audits of assigned claims to validate compliance and ensure claim accuracy and completeness.
• Ensure loans are fully liquidated and cleared from MSP within 48 hours of receipt of final claim proceeds.
• Perform additional duties as assigned by the Claims Department Supervisor or management.

Requirements

• Strong working knowledge of foreclosure and mortgage claims processes and workflows.
• Demonstrated knowledge of FHA, USDA, VA, FNMA, FHLMC, MI, and other investor or insurer foreclosure and claims requirements.
• General understanding of investor and PMI practices.
• Solid understanding of residential mortgage products and consumer lending.
• Functional knowledge of mortgage servicing, including default, escrow, payoff, cashiering, and ARM servicing.

Skills and Abilities

• Excellent written and verbal communication skills.
• Proficiency in Microsoft Office applications, including Word and Excel, with strong data entry accuracy.
• Effective negotiation and problem-solving skills.
• Ability to work independently in a deadline-driven environment.
• Detail-oriented and highly organized with a goal-oriented mindset.

Education

• Bachelor's degree in a business-related field, or an equivalent combination of education and relevant experience in mortgage servicing, customer service, or a collections/call center environment.

EEO Statement:
We're an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.
Salary Description
47.8k to $55.9k