LOAN ESCROW SPECIALIST

Job Description

Job Description

WHITAKER BANK

LOAN ESCROW SPECIALIST POSITION DESCRIPTION

SUMMARY

The position of Loan Escrow Specialist is responsible for managing escrow accounts by tracking / monitoring / analyzing and disbursing taxes and insurance related to Mortgage, Mobile Home, Commercial and Consumer Loans. Responsible for maintaining and updating escrow information in core system. Monitors reports for verification of accurate tax and insurance tracking with vendors and force placing insurance. Assists with special initiatives or projects and support other areas within Loan Operations as needed.

Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.

ESSENTIAL DUTIES

• Monitor and pay Insurance and Property Taxes on escrowed and non-escrowed loans.
• Monitor flood zone changes reported by vendor, ensures all real estate collateral located in special flood hazard area maintains adequate flood insurance coverage. Monitor insurance vendor reports for accurate insurance tracking. Update flood determination data on core system.
• Processes vendor pay files to disburse tax payments and insurance premium payments from escrow to ensure no delinquency or lapse in coverage occurs.
• Audit tax payments and force place insurance billing for accurate placement on the loan and process any applicable refunds.
• Request insurance policies from Insurance companies and / or agents and tax bills from Taxing authority and submit for payment
• Scan and upload insurance mail received daily to electronic file on escrow and non-escrowed loans secured by real estate
• Works and completes escrow related source tickets from vendors, customers, lenders, and other bank personnel.
• Assists with the development and regular review of procedures to improve operational efficiencies and to ensure adherence to bank policies and regulatory guidelines.
• Answers incoming customer calls with enthusiasm and professionalism
• Operates computer terminal or personal computer to process loan activity, determine balances, and resolve problems within given authority.
• Types routine letters, reports and forms.
• Completes online compliance training as assigned and required.
• Treats people with respect; keeps commitments; Inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follows policies and procedures; completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the bank through outside activities.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.

SECONDARY DUTIES

The position of Loan Escrow Specialist performs duties specific to the position and other functions as assigned.

SUPERVISORY RESPONSIBILITY

The position of Loan Escrow Specialist is not responsible for the supervision of any employee(s), however the incumbent is required to provide leadership, training and support to less experienced loan department personnel. The incumbent in this position may perform duties in the absence of the Department Supervisor.

ENVIRONMENT AND PHYSICAL ACTIVITY

The incumbent is in a non-confined office-type setting in which he or she is free to move about at will. The position includes driving a Bank or personal owned vehicle approximately one percent of the time which includes exposure to the outside weather elements and moving mechanical parts. It may include some minor annoyances such as noise, odors, drafts, etc.

The incumbent in the course of performing this position spends time writing, typing, speaking, listening, lifting (up to ten pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, pulling, walking, standing, squatting, kneeling and reaching.

The incumbent for this position may operate any or all of the following : telephone, cellular telephone, copy and fax machines, adding machine (calculator), scanner and image systems, encoder, typewriter, personal computer and related printers, or other equipment as directed.

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

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

MENTAL DEMANDS

The incumbent in this position must be able to accommodate to reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, training, multiple concurrent tasks, and constant interruptions.

MINIMUM REQUIREMENTS

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and / or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

Management reserves the right to change this position description at any time according to business needs.