Escrow Associate

Primary Residential Careers•Centennial Park, AZ

13d•Onsite

About The Position

The Escrow Associate is responsible for managing various aspects of escrow accounts, including borrower communications, payment processing, and research related to taxes, mortgage insurance, and special assessments. This role involves making outbound calls, assisting with customer inquiries, reconciling reports, and ensuring timely payments. For Level 2 responsibilities, the associate will handle more complex tasks such as FHA balancing, PMI cancellations, and managing 203K loan processes, including setting up accounts, managing funds, issuing wires, and preparing reports. The role also requires creating and maintaining various escrow reports and accurate records.

Requirements

Mortgage related experience preferred
Organization skills
Customer service skills
Written and verbal skills
Knowledge of Microsoft Office applications
Must be able to communicate clearly and effectively.
Must be able to utilize a computer.
Must be able to maintain a work schedule.
Must be able to effectively perform in an office setting.
Must be able to maintain and ensure secure privacy of borrower (and other protected) information.
Must comply with and adhere to all applicable mortgage and fair lending laws and regulations as well as PRMI policies.

Responsibilities

Makes outbound calls to borrowers, taxing authorities, PMI companies, and vendors requesting billings for accounts presented on the tickler.
Assists with customer inquiries regarding taxes, mortgage insurance, 203K wires, payments, and refunds.
Researches all delinquent tax, MIP, PMI, and special assessment ticklers.
Monitors tax vendor, sends legal descriptions when necessary, and researches duplicate tax contracts.
Monitors non-escrowed accounts to ensure timely payments of escrows by the customer.
Reconciles tax audit reports.
Monitors tickler report daily, corresponding call schedules with escrow associates.
Calls tax agencies for billings, researches issues, and modifies tax accounts according to bills received.
Researches and corresponds with FHA on balancing monthly billings, reconciliation reports, terminations, and other outliers.
Researches PMI cancellations and works with PMI companies on reinstating policies, terminations, and updating certificates.
Sets up 203K accounts, manages 203K repair funds, issues wires for draw requests, audits files for proper documentation, prepares 203K reports, and corresponds with customers and third parties in the process of repair.
Serves as a resource to others in the resolution of customer inquiries regarding the 203K process, receipt of 203K payments, and creating timelines for closeouts.
Creates escrow checks for all escrow payments, balances check batches, balances and mails TARs daily, and disburses 203K monthly payments.
Creates monthly, weekly, and daily escrow reports in Mortgage Builder and Excel.
Maintains accurate records of checks (wires), summary reports, escrow research, vendor correspondence, and customer dialogue.