Escrow Holdback Specialist
CrossCountry Mortgage, LLC
About The Position
The Escrow Holdback Specialist is responsible for the disbursement and the post-closing tasks associated with Escrow Holdback Loans. Tasks will include but are not limited to the sending out of Borrower Welcome Letters, verifying where funds are being held, monitoring progress, ensuring working completion dates are being followed and processing final disbursements.
Requirements
- High School Diploma or equivalent.
- Proficient in math and analytical skills.
- Excellent professional communication skills.
- Adept in problem solving.
- Excellent prioritization and time management.
- Experienced with Microsoft Outlook, Excel, Word and Windows.
Nice To Haves
- 1 year of Mortgage Lending or Financial Industry experience preferred.
- Knowledge of Encompass preferred.
Responsibilities
- Complete the Escrow Holdback Loan disbursement process.
- Send out Borrower Email Welcome Packages.
- Verify where Escrow Holdback Funds are being held.
- Review the Closing Disclosure and reconcile with the 2015 Itemization for fund allocations.
- Review Appraisal for work to be completed.
- Monitor undeliverable loans and request lock rate extensions as required.
- Monitor and authorize Municipality and Title Company release of funds.
- Monitor each loan’s progress and manage daily borrower communication.
- Interface with Loan Officers, Branch representatives, Closers, Title Companies, Municipalities and Contractors all to facilitate close out of Escrow Holdbacks.
- Maintain and update daily communication logs on projects by entering information into Encompass (the operating system’s fields and folders).
- Order the inspections, coordinate scheduling, and retrieve reports from respective websites.
- Collect the w-9, lien waiver, invoice, release authorization and any necessary inspections to release Escrow Holdback Funds.
- Disburse Escrow Holdback Funds within allotted timeframes set by agency and lender.
- Process the close out of the Escrow Holdback with any related Agencies as required.
- Perform other adjacent team duties as needed.
Benefits
- competitive compensation plan
- robust benefits package, including medical, dental, vision, as well as a 401K
- company-provided short-term disability
- an employee assistance program
- a wellness program
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
Number of Employees
1,001-5,000 employees
