Repurchase Loss Risk Specialist
Flagstar Bank
full-time
Posted on:
Location Type: Remote
Location: Missouri • United States
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Salary
💰 $86,917 - $112,666 per year
About the role
- Manage the bank’s Repurchase, Make-Whole, MI Deficiency, and MI Curtailment potential loss exposure.
- Ensure timely appeal / repurchase in accordance with various Investor, Servicer, and MI Company requirements.
- Communicate with internal / external business partners regarding Demand-level issues.
- Deliver repurchase root-cause analysis to management peer group.
- Conduct monthly (or as needed) pipeline status calls and elevate issues as warranted.
- Participate in regulatory exams to assist senior management in the representation of the Claims Mitigation function.
- Manage and coach a team of Auditors, Intake /Reporting / Funding Analysts.
- Provide timely responses to staff questions / concerns and conduct on-going training.
- Identify and communicate team goals and conducts regular assessments to ensure processes and procedures are efficient and meeting the needs of the business.
- Maintain Quality Control process and ensure appropriate feedback is provided; Develop Employee Scorecards to track performance and identify opportunities for improvement and recognition.
- Conduct performance appraisals, coach and develop staff, hold accountability meetings, conduct team performance meetings, perform employee observations.
- Maintain knowledge of relevant Investor, Servicer, and MI Company policies; identify process inefficiencies, introduce database utilization changes/enhancements through effective communication and collaboration.
Requirements
- High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent, required
- Bachelor’s Degree plus 3-4 years of mortgage underwriting experience – OR - 7-10 years of extensive mortgage underwriting experience with a background in the identification of mortgage credit misrepresentation.
- Two year track record of Investor / Servicer / MI Company negotiations.
- 3 - 5 year track record of managing a team.
- Training in Underwriting, Credit and Repurchase Risk.
- Excellent written and verbal communication skills, pipeline and time-management skills, legacy GSE underwriting / credit guideline knowledge.
- Self-starter, self-directed, influential, articulate and ability to distill complex information into easily understandable content.
- Demonstrated ability to define and resolve problems, exercise sound judgement and make good decisions.
- Ability to establish critical timelines and effectively drive team and operations to meet deadline expectations.
- Proficiency in Word and Excel is preferred.
Benefits
- medical, dental, vision, life, and disability insurance
- comprehensive leave program
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
mortgage underwritingrepurchase riskcredit riskpipeline managementroot-cause analysisperformance appraisalprocess improvementdatabase utilizationquality controlteam management
Soft Skills
communication skillstime-management skillsproblem-solvinginfluentialarticulateself-starterself-directedjudgmentdecision-makinggoal setting
Certifications
High School DiplomaBachelor's DegreeUnderwriting Training