Escrow Servicing Specialist

Mechanics Bank • Federal Way, WA

1d • $25 - $42 • Onsite

About The Position

The Escrow Servicing Specialist is responsible for performing a variety of Escrow Administration functions related to property taxes, insurance, mortgage insurance, and loss claims on residential and consumer loans. This position monitors and maintains accurate loan servicing information, processes and monitors disbursements, researches and resolves servicing issues, and ensures activities are completed accurately and timely in accordance with applicable Bank, investor, regulatory, and servicing requirements. This position handles complex and confidential loan servicing matters with a high level of independence and provides accurate, timely, and professional service to customers, internal partners, and third parties.

Requirements

• High School or GED required.
• 2 years Mortgage and consumer loan experience required; experience with property taxes, insurance, loss claims/loss drafts, loan origination, escrow, or title preferred.
• Working knowledge of mortgage and consumer loan servicing practices, with knowledge of escrow administration, including property taxes, insurance, and loss claims.
• Ability to understand and apply Bank policies, investor guidelines, regulatory requirements, and established servicing procedures.
• Strong research, analytical, problem-solving, and decision-making skills with the ability to resolve complex servicing issues.
• Strong attention to detail and accuracy with the ability to maintain complete and accurate loan, escrow, and servicing records.
• Ability to effectively organize, prioritize, and manage multiple responsibilities and deadlines in a fast-paced environment.
• Strong written and verbal communication skills with ability to clearly explain complex servicing information to customers, internal partners, and third parties.
• Ability to exercise sound judgement, maintain confidentiality, and appropriately escalate matters when necessary.

Nice To Haves

• 2 years Loan Servicing experience preferred, with Escrow Administration experience preferred.

Responsibilities

• Perform and support Escrow Administration functions related to property taxes, insurance, mortgage insurance, and loss claims on residential and consumer loans.
• Monitor new loan setup and maintain accurate escrow-related information in the Loan Servicing system, in accordance with Bank, investor, regulatory, and loan servicing requirements.
• Process and monitor property tax activity, including payments, delinquency and assessment tracking, disbursements, payee information, due dates, and related research.
• Process and monitor insurance activity, including policy renewals and cancellations, premiums, coverage requirements, mortgagee clauses, and hazard, flood, and other applicable insurance.
• Process and manage loss claims from initial receipt through completion, including monitoring claim funds, disbursements, inspections, repairs, documentation, and applicable servicing requirements.
• Monitor and review loans with mortgage insurance for accurate information based on the applicable investor. Process mortgage insurance premium payments and deletions. As well as escrow waiver and additions
• Research and resolve complex escrow and loan servicing matters involving property taxes, insurance, loss claims, escrow analysis, mortgage insurance, and other related servicing topics.
• Work directly with customers, taxing authorities, insurance companies, agents, vendors, and other third parties to obtain information, resolve discrepancies, and facilitate timely resolution.
• Evaluate servicing issues, determine appropriate solutions, facilitate necessary corrections or adjustments, and escalate matters when appropriate.
• Provide accurate and timely information to internal and external customers and clearly explain complex escrow and loan servicing requirements and processes.
• Ensure escrow transaction, disbursements, account maintenance, and documentation are completed accurately and in accordance with applicable Bank, investor, regulatory, and servicing requirements.
• Maintain accurate records and documentation and participate in procedure reviews, system testing, department projects, and process improvement.
• Cross-train and provide backup support across Escrow Administration functions; participate in new employee training and provide guidance to less experienced team members, as assigned.
• Support critical deadlines and changing business needs and perform other duties as assigned.

Benefits

• Medical, prescription, dental, and vision coverage for employees and their eligible family members
• Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits
• Health Savings Account with employer contribution
• Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit
• 401(k) and Roth 401(k) with company contribution
• 529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program
• Supplemental Health plans, Voluntary Legal and Identity Theft Services
• 11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year
• Free personal checking and savings account; Discounted rates on primary residence loan with $0 origination fees (restrictions apply)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED