JOB FUNCTION/ PURPOSE The Escrow Specialist is responsible for ensuring all real estate taxes and hazard/flood insurance premiums are paid or updated in a timely manner. In addition, the Specialist handles optional insurance balancing for the billing, upgraded customer issues, loss claims processing, and research. The Specialist also monitors loans for flood insurance and lender placed insurance. The Escrow Specialist ensures the operation of the Escrow department stays compliant with regulatory... more details
JOB FUNCTION/PURPOSE
The Escrow Specialist is responsible for ensuring all real estate taxes and hazard/flood insurance premiums are paid or updated in a timely manner. In addition, the Specialist handles optional insurance balancing for the billing, upgraded customer issues, loss claims processing, and research. The Specialist also monitors loans for flood insurance and lender placed insurance. The Escrow Specialist ensures the operation of the Escrow department stays compliant with regulatory requirements and updates policies and procedures as necessary.
QUALIFICATIONS
? Associate degree in business or computer related field, or commensurate work experience required. ? Minimum of 1 year banking or mortgage experience preferred ? Working knowledge of loan documents preferred ? Knowledge of FNMA, FHLMC, FHA, and VA loan servicing procedures and regulations preferred ? Knowledge of RESPA and CFPB regulations preferred ? Must have intermediate knowledge of Microsoft Office including Word and Excel. ? Must possess excellent mathematical and analytical skills. ? Must demonstrate strong written, verbal, and interpersonal communication skills. ? Must be able to organize and manage work load efficiently to allow for timely and accurate completion of assigned duties and to assist other staff members. ? Must be professional and courteous with internal and external customers.
PRINCIPAL ACTIVITIES/OBJECTIVES
? Build tax engines for script runs in Excel. ? Review tax/insurance reports identifying items that need paid/updated and direct the loan administrators in paying real estate taxes/insurance premiums. ? Verify appropriate letters for Lender Placed Coverage for hazard and flood insurance are sent to customers. ? Place lender placed coverage on vacant properties. ? Ensure adequate flood insurance coverage on properties in Special Flood Hazard Area. ? Monitor delinquent taxes and hazard cancellations and ensure the required borrower notifications are sent within the required timeframes on flood/hazard insurance. ? Process Private Mortgage Insurance (PMI), Electronic Data Interchange (EDI) and Housing and Urban Development billings and flood mapping updates and send appropriate letters where necessary. ? Process loss draft claims according to investor and bank guidelines ? Handle research on questions/problems as requested from other departments and upgraded customer issues ? Remit optional insurance premiums to appropriate companies ? Add/Delete optional insurance as needed ? Send letters to flood tracking companies to cancel life of loan monitoring on paid-in-full loans ? Advance taxes/hazard on hardship modifications ? Obtain and update evidence of insurance on condominiums ? Establish/maintain tax/insurance payees as needed ? Verify tax/hazard check amounts to insurance /tax bills ? Proactively review processes to improve quality and/or efficiency ? Participate and respond to internal as well as external audits ? Sort/review reports and give to appropriate staff ? Create monthly tax payee listings to identify the quantity of tax bills in each area ? Overtime may be required, as needed
Note: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.
Job Abstracts is an independent Job Search Engine. Job Abstracts is not an agent or representative and is not endorsed, sponsored or affiliated with any employer. Job Abstracts uses proprietary technology to keep the availability and accuracy of its job listings and their details. All trademarks, service marks, logos, domain names, and job descriptions are the property of their respective holder. Job Abstracts does not have its members apply for a job on the jobabstracts.com website. Additionally, Job Abstracts may provide a list of third-party job listings that may not be affiliated with any employer. Please make sure you understand and agree to the website's Terms & Conditions and Privacy Policies you are applying on as they may differ from ours and are not in our control.
We would like to take a second to Welcome You to Job Abstracts, the nation’s largest Pure Job Board. With over 3.1 million job listings from 15,000+ Companies & Organizations, we help job searchers find careers that match their interests. As an anonymous user, you have probably discovered how easy our system is to use. However, you have just scratched the surface of what we can offer.
We encourage you to Register so you can use our most powerful features: searching with multiple terms, setting up multiple locations, establishing favorite companies, and accessing your search history. If you find a job you like, you can apply directly for it, and then, keep notes on it. We will also keep a lookout for jobs that match your search terms and email you when we find something you may like.
You can register for free and the system is free to use. If you like our system so far, click on Register and unlock the power required by serious job searchers.
Any time you conduct a search, the system shows you job matches, ranked by their Relevance Score (RS).
The score is calculated by a proprietary algorithm that uses Intelligent Machine Learning.
The Relevance Score tells you how well the job opportunity matches your search term or terms.
When not logged in, the system is limited to one search term. Scores for single term matches are usually lower.
When you register, log in, and set up multiple terms prioritized by importance, the jobs found for you will receive a much higher Relevance Score.