Default Claim

10 hours ago


Chennai Tamil Nadu, India QRight Solutions Full time

**Job Summary**:
**Primary Accountabilities**:
**Claims Management**: Accurately and promptly prepare, file, and handle default claims (FHA, VA, USDA, and conventional).
**Documentation Review**: To guarantee completeness and adherence to investor and insurance criteria, review and confirm all essential documentation for claim submissions.
**Default Occurs**: The borrower fails to make mortgage payments, leading to default on the loan.

**Foreclosure Process**: The lender initiates foreclosure proceedings to repossess the property and recover the outstanding debt.

**Evaluation of Loss**: The lender assesses the total amount of loss incurred due to the default, including unpaid principal balance, accrued interest, foreclosure costs, and any other applicable expenses.

**Claim Submission**: The lender submits a claim to the mortgage insurance company, providing documentation and evidence of the borrower's default and the resulting loss.

**Review and Approval**: The mortgage insurance company reviews the claim to verify that it meets the terms and conditions of the mortgage insurance policy. If the claim is approved, the mortgage insurance company will reimburse the lender for the covered portion of the loss.

**Recovery of Funds**: Upon approval of the claim, the mortgage insurance company pays the lender the agreed-upon amount, helping to offset the financial impact of the borrower's default.

**Education**: A bachelor's degree in business administration, finance, or a similar discipline is preferred.
**Experience**: Three years or more of minimum experience servicing mortgages, mostly handling default claims.
**Expertise**:Comprehensive understanding of FHA, VA, USDA, and traditional mortgage claim procedures and prerequisites.

**Skills**:

- Ability to think critically and solve problems is strong.
- Excellent communication skills both in writing and speaking.
- proficiency using Word, Excel, and Outlook from the Microsoft Office Suite.
- Familiarity with systems and software used in mortgage servicing.

**Attributes**:

- High attention to detail and accuracy.
- Ability to work independently and as part of a team.
- Strong organizational and time management skills.

Ability to handle multiple tasks and meet deadlines

**Job Type**: Permanent

Pay: ₹350,000.00 - ₹650,000.00 per year

**Benefits**:

- Health insurance
- Provident Fund

Schedule:

- Fixed shift
- Monday to Friday
- Night shift

**Experience**:

- total work: 3 years (required)

Work Location: In person



  • Chennai, Tamil Nadu, India NTT DATA Full time

    **Positions General Duties and Tasks**: - Process Insurance Claims timely and qualitatively Meet & Exceed Production, Productivity and Quality goals - Stay up to date on new policies, processes, and procedures impacting the outcome of Claims processing - Be a team player and work seamlessly with other team members on meeting customer goals **Requirements...

  • Legal Executive

    4 days ago


    Salem, Tamil Nadu, India Margadarsi Chit Fund Private Limited Full time

    Company OverviewMargadarsi Chit Fund Pvt Ltd part of the Ramoji Rao Group has been a reputable name in financial solutions for 62 years Serving as a trusted financial services provider the company operates across 118 branches in Telangana Andhra Pradesh Karnataka and Tamil Nadu It is known for being customer-centric and delivering diversified...


  • Coimbatore, Tamil Nadu, India NTT DATA Full time

    Positions General Duties and Tasks Process Insurance Claims timely and qualitatively Meet Exceed Production Productivity and Quality goals Review medical documents policy documents policy history Claims history system notes and apply the trained client level business rules to make appropriate Claims decisions call out claims trends and flag...


  • Chennai, Tamil Nadu, India Moder Solutions Full time ₹ 9,00,000 - ₹ 12,00,000 per year

    Moder is hiring for Servicing vertical for below verticalDefault ComplianceLoss MitigationModification/Closing (Origination processing)docs review like Bank statement,Closing CD E Record/Title Title/Recording.Review payments received Claims ReconciliationYet to confirm Cashiering exp Payment processing, Lock boxes,Echeck Reconciliation


  • Chennai, Tamil Nadu, India DXC Technology Full time

    Key Responsibilities - Initiate and manage collection activities for B2B clients across India - Send payment reminders via email SMS and phone calls based on aging buckets - Maintain accurate records of communication payment commitments and follow-ups - Coordinate with sales finance and legal teams for dispute resolution and escalations -...


  • Chennai, Tamil Nadu, India NTT DATA Full time

    Positions General Duties and Tasks Process Insurance Claims timely and qualitatively Meet Exceed Production Productivity and Quality goals Review medical documents policy documents policy history Claims history system notes and apply the trained client level business rules to make appropriate Claims decisions call out claims trends and flag...


  • Chennai, Tamil Nadu, India NTT DATA Full time

    Positions General Duties and Tasks Process BPO Insurance Claims timely and qualitatively Meet Exceed Production Productivity and Quality goals Review BPO medical documents policy documents policy history Claims history system notes and apply the trained client level business rules to make appropriate Claims decisions call out claims trends and flag...


  • Chennai, Tamil Nadu, India NTT DATA Full time

    Positions General Duties and Tasks Process Insurance Claims timely and qualitatively Meet Exceed Production Productivity and Quality goals Review medical documents policy documents policy history Claims history system notes and apply the trained client level business rules to make appropriate Claims decisions call out claims trends and flag fraud...


  • Chennai, Tamil Nadu, India NTT DATA Full time

    Positions General Duties and Tasks Process Insurance Claims timely and qualitatively Meet Exceed Production Productivity and Quality goals Review medical documents policy documents policy history Claims history system notes and apply the trained client level business rules to make appropriate Claims decisions call out claims trends and flag fraud...


  • Chennai, Tamil Nadu, India NTT DATA North America Full time ₹ 60,00,000 - ₹ 90,00,000 per year

    Positions General Duties and Tasks:Process Insurance Claims timely and qualitativelyMeet & Exceed Production, Productivity and Quality goalsReview medical documents, policy documents, policy history, Claims history, system notes and apply the trained client level business rules to make appropriate Claims decisions, call out claims trends and flag fraud...