Requisition Number 10-0194
Post Date 6/17/2010
Title Mortgage Insurance Fraud Investigator – TEMPORARY
Description About Radian:
Headquartered in Philadelphia, Radian connects lenders, homebuyers, investors and loan servicers using a suite of private mortgage insurance and related risk management products and services.
We help promote and preserve the tradition of homeownership while protecting lenders from default-related losses on residential first mortgages. We also facilitate the sale of low-down payment mortgages in the secondary market. Our commitment to homeownership is built on a foundation of evaluating credit risk; we help clients and investors expertly and prudently manage risk in any market condition.
The Special Investigation Unit (SIU) provides expertise in reviewing insured loan files to identify and investigate instances of non-compliance (including potential fraud) with the terms of Radian’s Master Policy of insurance and/or various underwriting criteria. Our vendor’s duties include identifying and investigating potential misrepresentation and/or non-compliance through borrower interviews, public records searches, and re-verification of’ information in residential loan files. This 3rd Party SIU Investigator will audit the findings of our vendors to validate the vendor’s recommendations to management.
**Radian is not accepting unsolicited assistance from search firms for this employment opportunity. All resumes submitted by search firms to any employee at Radian via-email, the Internet or in any form and/or method without a valid written Statement of Work in place for this position from Radian’s HR/Recruitment will be deemed the sole property of Radian. No fee will be paid in the event the candidate is hired by Radian as a result of the referral or through other means.**
• Audit and validate findings of 3rd Party Investigators (vendors) to ensure compliance with Radian’s policies, procedures and practices. The vendor will provide evaluation of loan files, identifying instances of lender non-compliance with Radian or other relevant guidelines, possible misrepresentation, data integrity issues (e.g., differences between file information versus data submitted to Radian), and/or layered risks that result in an inappropriate risk profile for the loan.
• Maintain customer service orientation with other SIU employees, Business Channels/Sales, Legal, borrowers, lenders and vendors to communicate and discuss the results of investigations and recommendations related to early payment defaults, claims, coverage, and potential fraud.
• Conduct borrower interviews as part of verification process.
• Report activity as required.
• Bachelor’s Degree preferred, directly-related experience may be considered.
• 3 to 5 years fraud investigation, underwriting or mortgage processing experience.
• Excellent verbal, written, and interpersonal skills required; ability to interact with all levels and types of internal and external customers.
• Proficiency with Microsoft Office Suite and internet research.
• Strong understanding of mortgage origination, from application to funding, with knowledge of quality assurance in identifying high risk mortgage loans and high-risk activity.
• Ability to understand and interpret lender guidelines.
• Strong verbal and written communication, presentation and interpersonal skills.