Fifth Third Bank Claims Analyst I. in Cincinnati, Ohio

JOB DESCRIPTION:

Fifth Third Bank is one of the top-performing banks in the country, with a heritage that spans more than 150 years. We've staked our claim on looking at things differently to making banking a Fifth Third Better. This applies to our relationships with customers and employees alike.

We employ about 18,000 people, and what we offer is:

# A chance for employees to build their future, with supportive career development and financial wellness programs.

# An environment where we win together. We celebrate achievement and work collaboratively. We're also a three-time Gallup Great Workplace honoree.

# An invitation to impact lives in a positive and lasting way. Everything we do is geared toward improving lives. That's fun and exciting.

It comes down to the fact that Fifth Third is a warm and caring place to with which to grow # as a customer or as a team member.

Mortgage Banking at Fifth Third Bank encompasses three sales channels # Retail, Direct and Correspondent. It also includes the operations side, with three major Fulfillment Centers in Cincinnati, Ohio; Grand Rapids, Michigan; and Chicago, Illinois. We offer many different mortgage loan options, and our customers look to us when they are thinking about buying a new home, building their dream home, refinancing their existing home, or exploring options for downsizing. Additionally, the Fifth Third partners with the Community College Foundation to bring the Financial Empowerment eBus to our communities. This bus is retrofitted as a mobile classroom that hits the streets to provide financial education on important topics including homeownership. We also play a key role in supporting homeownership by offering refinancing and modification opportunities.

GENERAL FUNCTION: Responsible for completing and filing investor/insurer claims within required guidelines in order to recoup 5/3's investment in the property, may include loan principal, accrued interest, and corporate or escrow advances, as well asbank incentives for timely filing, made during the life of the loan to properly protect the investors collateral interest in the property. The residential mortgage portfolio is currently at 325,000 loans, 75% of which are investor owned and/or insuredthat require the completion of a claim upon completion of the default cycle. This results in approximately 200 claims being filed on a monthly basis and $30.0 million being recouped and applied annually. This position also includes the filing of LossMitigation claims with the investors/insurers.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank#s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

DUTIES & RESPONSIBILITIES:

  • All Claims started within five business days of receipt from loss mitigation or foreclosure.

  • Filing of all investor/insurer claims within required guidelines to reduce exposure to curtailments and/or fines. In 2005, claims paid to Fifth Third totaled approximately $30.0 million.

  • Track all claims monthly for status update and/or proceeds.

  • All claims proceeds posted per investor/insurer requirements within 48 hours of receipt includes posting principal, interest, escrow, other advances, buydown funds, unapplied funds, up to $1 million per week.

  • Close out accounts to ensure all balances equal to zero through chargeoff and correct the appropriate MortgageServ system settings.

  • Work with attorney network to ensure evictions, redemption, title issues, mobile home issues, conveyances and reconveyances are handled with due diligence to reduce exposure to curtailments and/or fines.

  • Work with property preservation vendor, hazard claim vendor, claims outsourcing vendor, city officials, etc. to ensure that the properties are being maintained to investor/insurer requirements.

SUPERVISORY RESPONSIBILITIES: None

MIMIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

  • High school diploma.

  • Good organization skills.

  • Math skills.

  • 0-2 years mortgage default or mortgage servicing related experience.

  • Prior PC experience to include advanced Excel, Word and Access.

Fifth Third Bank is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.