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Loss Draft Associate Jobs in California (NOW HIRING)

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Loss Draft Associate information

What is a loss draft associate?

Loss Draft Associates are professionals who work in the mortgage or insurance industry, handling the disbursement of insurance claim funds (loss drafts) for properties that have suffered damage. They act as a liaison between homeowners, insurance companies, and mortgage servicers to ensure that funds are released appropriately for property repairs. Their responsibilities typically include reviewing documentation, coordinating inspections, and monitoring repairs to protect the interests of both the homeowner and the mortgage lender.

What are the key skills and qualifications needed to thrive as a loss draft associate, and why are they important?

To thrive as a Loss Draft Associate, you need strong attention to detail, organizational skills, and knowledge of mortgage and insurance processes, often supported by a high school diploma or equivalent. Familiarity with loan servicing platforms, document management systems, and proficiency in Microsoft Office Suite are typically required. Excellent customer service, problem-solving abilities, and effective communication skills help you manage inquiries and coordinate with clients and internal teams. These skills are crucial for ensuring timely and accurate processing of loss draft claims, which supports client satisfaction and regulatory compliance.

What is the difference between Loss Draft Associate vs Claims Processor?

Loss Draft AssociateClaims Processor
Reviews and manages loss draft requests, verifies documentation, and communicates with clients and adjusters.Processes insurance claims, reviews claim details, and ensures proper documentation for claim approval.

Both roles often require insurance knowledge, customer service skills, and familiarity with claims systems. Loss Draft Associates focus specifically on managing loss draft payments and related documentation, while Claims Processors handle the broader claims lifecycle. They work in similar environments within insurance companies or adjuster firms, often with overlapping responsibilities. The main difference lies in their specific focus areas within the claims process.

What are some common challenges faced by loss draft associates, and how can they effectively manage them?

Loss Draft Associates often face challenges such as managing high volumes of claims, coordinating with multiple stakeholders, and ensuring timely processing of insurance disbursements. To effectively manage these challenges, strong organizational skills, attention to detail, and clear communication with policyholders, adjusters, and contractors are essential. Proactively tracking claim statuses and promptly addressing discrepancies can help maintain workflow efficiency and customer satisfaction.
What cities in California are hiring for Loss Draft Associate jobs? Cities in California with the most Loss Draft Associate job openings:
Loss Draft Associate jobs near you

Hybrid Early Stage Collections Specialist, I

Carrington Holding Company, LLC

Orange, CA • On-site

$23.50/hr

Full-time

Medical, Retirement

Re-posted 4 days ago

Job description


Come join our amazing team and work a hybrid schedule!
The Early Stage Collections Specialist will be responsible for counseling borrowers on methods for bringing their loan current and/or exploring alternative solutions. Contact borrowers in the early stages (1-59 days) of the delinquency cycle and negotiate payment arrangement to bring borrowers current. In the event a borrower is unable to bring the account current, representatives thoroughly review the borrower's current financial situation and offer additional options depending on the circumstance. They also provide support to inbound Customer Service on high inbound volume days. Individual must perform all duties in accordance with the company's policies and procedures, all US state and federal laws and regulations, wherein the company operates.
This role generally performs work of low to moderate complexity. Incumbents are able to perform collections and customer service activities and may still be learning the more complex mortgage concepts and call types. The approved pay for this position is $23.50 per hour plus a monthly incentive bonus. An additional $1.50 per hour can be added if you are fully bilingual English/Spanish.
  • Evaluates and helps determine the borrower's ability to pay, and collects appropriate financial information in a courteous and professional manner, striving for first-call resolution and in compliance with all applicable regulations.
  • Counsels borrowers on their options through education of alternative solutions.
  • Contacts borrowers, utilizing an automated dialing system (Aspect Dialer) for both inbound and outbound calls.
  • Provide alternatives to borrowers who demonstrate the ability and or inability to pay, by educating them on repayment plans, loan modifications, short sales, Deed in Lieu of Foreclosure, and/or possible refinancing.
  • Negotiate reasonable payment arrangements with borrowers, initiate and explain required documents to complete a borrower "Request for Mortgage Assistance" package in compliance with department policies and procedures.
  • May function as the single point of contact for a borrower.
  • May need to escalate borrowers to a licensed Loss Mitigation associate for specific workout details.
  • Provide status on payments and payoff inquiries; verify payment history and new servicer contact information; process payments.
  • Assist with loan servicing website payments, denied access, password resets.
  • Respond to escrow, loss draft and closing document inquiries.
  • Provide status on a wide variety of servicing functions including payment/credit disputes, escrow refunds/shortage, loss draft, short sale, Deed in Lieu of Foreclosure, modification/refinance requests, repayment plans, and additional mortgages activities.

What you'll need:
  • High school diploma or equivalent work experience.
  • Less than one (1) year collections experience in a customer service/call center environment and /or loan servicing experience.
  • Experience in the Banking, Mortgage/Loan Servicing industries preferred.

Our Company:
Carrington Mortgage Services is part of The Carrington Companies, which provide integrated, full-lifecycle mortgage loan servicing assistance to borrowers and investors, delivering exceptional customer care and programs that support borrowers and their homeownership experience. We hope you'll consider joining our growing team of uniquely talented professionals as we transform residential real estate. To read more visit: www.carringtonmortgage.com.
What We Offer:
  • Comprehensive healthcare plans for you and your family. Plus, a discretionary 401(k) match of 50% of the first 4% of pay contributed.
  • Access to several fitness, restaurant, retail (and more!) discounts through our employee portal.
  • Customized training programs to help you advance your career.
  • Employee referral bonuses so you'll get paid to help Carrington and Vylla grow.
  • Educational Reimbursement.
  • Carrington Charitable Foundation contributes to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation, and the organizations and programs, it supports through specific fundraising efforts, please visit: carringtoncf.org.

Notice to all applicants: Carrington does not do interviews or make offers via text or chat.
https://oag.ca.gov/privacy/ccpa

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