Job Description

Mortgage Escrow Specialist

ESSENTIAL FUNCTIONS:

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Performs review on all escrow data and validate FICS set up at loan boarding
• Ensure escrow account setup correctly, recognize and fix any errors.
• Activates Private Mortgage Insurance (PMI) after loan closing, as needed.
• Balance PMI billing files monthly / wire payments.
• Process final PMI premiums and/or refunds after loan payoff, as needed.
• May assist the Collections department in filing PMI Claims.
• Complete escrow analysis statements according to RESPA guidelines
• Review annual escrow analysis reports: update accounts with current taxes, determine estimated or actual taxes, research shortage or overages
• Prepare annual escrow analysis statements to be mailed.
• Determine eligibility of PMI removal per agency guidelines; order appraisal; process PMI cancellation/or denial.
• Member service; assists borrowers with any escrow questions. Strives to resolve most member questions and issues during the call.
• Responds to phones call and emails and assists members and co-workers.
• Documents calls and emails as required in the servicing system.
• Assist borrowers on insurance damage claims process.
• Maintain tax authority payee list, as needed.
• Pays taxes as needed.
• Pays homeowners and flood insurance as needed.
• Perform research upon request from borrowers and other departments
• Review reports and works exceptions related to all escrow processes
• Monitor and sends all loans to flood vendor to ensure all loans have valid flood certifications
• Monitor loss drafts and any exceptions
• Monitors tax vendor to ensure all tax lines are setup and paid accurately and within Service Level Agreements, (SLA)
• Monitors non-escrowed accounts for delinquent taxes.
• Assures loans without escrow are insured according to CU and agency guidelines including the CU’s portfolio of Home Equity Loans.
• Cross trains in all mortgage servicing areas and provides trains other Mortgage Servicing staff training on Escrow Servicing.

ADDITIONAL RESPONSIBILITIES:

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

SUPERVISORY RESPONSIBILITIES:

None

QUALIFICATIONS:

• Agency experience with FNMA, GNMA or Freddie Mac preferred
• Must be proficient in Microsoft Office Products, 10 key calculators, and have Bank Accounting Reconciliation Training
• Intermediate to advance Excel skills required
• FICS experience/knowledge is preferred.
• Must react quickly to investor requests with a sense of urgency
• Ability to read and comprehend Mortgage Loan Sale and Servicing Agreements
• Independent self-motivator, with strong analytical and competent computer skills
• Excellent organizational skills and attention to detail
• Critical analysis and problem-solving abilities
• Excellent verbal and written communication skills
• Strong customer relations disposition and interpersonal skills

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