Sr. Default Associate - Invoice and Corporate Advance

📋 Description

• • Valon is at the forefront of revolutionizing the mortgage industry through a cutting-edge, technology-first approach. We are transforming both mortgage servicing and consumer direct lending by building our platforms from the ground up, eschewing outdated legacy systems for a modern, AI-native operating system. This allows us to deliver unparalleled transparency, efficiency, and care to homeowners, lenders, and investors alike. Our mission is to simplify the mortgage experience, making it secure and financially empowering for every homeowner. To achieve this, we are assembling a team of world-class engineers, servicing experts, lending professionals, and operations leaders who are passionate about enhancing the homeowner journey. We are not just reshaping the present of servicing and lending; we are actively creating opportunities for talented individuals to drive the future of this dynamic industry. As Valon experiences significant growth and expands its multi-state footprint, exciting new roles and career paths are emerging. Joining Valon means becoming an integral part of a rapidly scaling company where innovation, collaboration, and a profound impact on customers are core tenets.
• • The Default Servicing team plays a critical role within Valon and the broader mortgage ecosystem. This team is responsible for managing all default-related processes and resolving mortgage loans that have fallen into delinquency. Their primary objective is to prevent foreclosures and minimize financial losses for investors. Central to our approach are homeowner transparency and financial literacy, which are consistently emphasized in our people, processes, and product development. We are dedicated to assisting homeowners who require additional support to preserve their dream of homeownership.
• • As a Senior Default Associate within the Default Administration team, you will be instrumental in managing and refining processes and procedures related to claims, invoice management, and corporate advances. We are seeking a proactive and self-motivated individual with robust project management capabilities. Your expertise will be crucial in assisting with and advising on the implementation of reconciliation and recovery processes that strictly adhere to contractual obligations, Valon's internal policies, and all relevant regulatory guidelines. This role is inherently cross-functional, requiring close collaboration with a diverse range of internal and external stakeholders to ensure that all reporting requirements are met accurately and deadlines are consistently achieved.
• • **Invoice Management Responsibilities:**
• • You will be responsible for the end-to-end processing and management of all vendor invoices and payments across all delinquency and default categories, ensuring strict adherence to company policies and procedures.
• • A key part of your role will involve verifying the accuracy of all invoices. This includes confirming that all expenses align with the guidelines and allowable expense schedules set forth by Investors, Insurers, and Agencies such as Freddie Mac, FNMA, FHA, VA, and RHS.
• • You will meticulously map and assign expenses to the correct general ledger codes and accounts, ensuring financial accuracy.
• • You will be tasked with recording all financial transactions, which involves the critical steps of verifying, classifying, and accurately recording invoice data.
• • You will proactively assist both internal departments and third-party vendors in resolving outstanding invoices, addressing invoice discrepancies, and resolving payment issues efficiently.
• • You will manage the issuance, tracking, and monitoring of billbacks to vendors for any expenses that exceed allowable limits.
• • **Corporate Advances Responsibilities:**
• • You will oversee the performance of offshore vendors, diligently monitoring their work, ensuring the accurate and timely completion of tasks, and providing vendor scorecards.
• • You will conduct thorough reviews and reconciliations of prior servicer's corporate advance data files, ensuring that all transactions are correctly mapped to the appropriate loans and accounts, and that adequate invoices and backup documentation support all prior servicer corporate advances.
• • You will reconcile newly onboarded corporate advances with corresponding data files, collaborating closely with the onboarding team and system engineers to promptly resolve any identified discrepancies.
• • You will work in tandem with the onboarding team and offshore staff to guarantee the timely receipt of all invoices and supporting documents from prior servicers.
• • You will review and reconcile corporate advance data for loans that are being offboarded, providing a precise list of all associated corporate advances to the offboarding team.
• • You will engage closely with our Product and Engineering teams to define system requirements aimed at automating and enhancing the management of processes related to corporate advances and invoice management.
• • You will foster collaborative relationships and coordinate effectively with both internal and external business partners.
• • You will work with prior servicers and internal departments to accurately map corporate advances to the established system of record for all loan acquisitions.
• • You will facilitate and provide comprehensive responses to all audit requests and findings, as well as client requests, pertaining to invoices and corporate advances.
• • You will prepare and deliver monthly Management Business Review (MBR) reports and trending reports.
• • You will ensure the timely escalation of all identified problems and compliance issues to the appropriate stakeholders.