Escrow Servicing Specialist
About The Position
The Escrow Servicing Specialist is responsible for the accurate administration of escrow activities for MCU’s residential mortgage and home equity portfolios. This role oversees escrow profile setup, ongoing monitoring, and the timely disbursement of escrowed funds such as real estate taxes, insurance premiums, PMI, and flood‑related obligations, while ensuring compliance with applicable regulatory and investor requirements and maintaining accurate servicing records. The Specialist independently researches and resolves complex issues, supports member requests, coordinates with vendors and external agencies, and participates in projects and process‑improvement initiatives to enhance efficiency, accuracy, and risk control.
Requirements
- High school diploma required; Associate’s degree preferred.
- Minimum of 2–3 years of experience in escrow servicing, tax and insurance monitoring, or mortgage operations.
- Experience with Servicing Director or Symitar system strongly preferred.
- Experience with Allied Solutions or a comparable insurance tracking and force‑placed insurance system strongly preferred.
- Proficiency in Microsoft Office Suite and strong data management and analytical skills.
- Demonstrated ability to work independently, manage multiple priorities, and meet critical deadlines.
- Demonstrated ability to independently research, analyze, and resolve complex servicing issues.
Responsibilities
- Perform and review annual escrow analysis, including adjustments for shortages, surpluses, refunds, and payment recalculations.
- Administer escrowed real estate taxes, homeowners’ insurance, flood insurance, PMI, and related premiums, ensuring timely and accurate disbursement.
- Monitor escrow sufficiency, upcoming tax and insurance due dates, payment accuracy, and delinquent tax activity, initiating appropriate servicing actions to prevent penalties and maintain compliance.
- Receive, review, and process tax bills (mail or electronic); analyze disbursements; and resolve discrepancies, delinquencies, reassessments, and jurisdictional changes.
- Conduct ongoing insurance monitoring and manage the force‑placed insurance lifecycle, including placement, cancellation, and refunds.
- Respond to and resolve member inquiries related to escrow, taxes, and insurance.
- Independently research and investigate complex issues involving escrow analysis, tax payments, insurance coverage, cancellations, refunds, and force‑placed insurance.
- Coordinate with insurers and tax authorities to validate information and resolve issues.
- Document findings, identify root causes, implement corrective actions, and escalate high‑risk or systemic issues with recommendations.
- Serve as the primary point of contact for tax and insurance vendors.
- Review vendor data and invoice accuracy related to escrow items, monitor exception reporting, and assess service performance.
- Partner with vendors and internal teams to automate and improve escrow, tax, and insurance processes, reducing manual effort and operational risk.
- Participate in cross‑functional meetings and projects, providing analysis and periodic reporting on escrow activities, issues, and trends.
- Maintain current escrow, tax, and insurance servicing procedures aligned with MCU standards and regulatory and investor requirements.
- Support internal audits, quality control reviews, regulatory exams, and remediation efforts.
- Monitor system‑generated alerts and exception queues to ensure timely investigation and resolution.
- Assist with training, knowledge transfer, and special servicing projects as assigned.
- Perform other related duties as required.
Benefits
- Employees in this position may also be eligible for a discretionary bonus, 401(k) with an 6% employer match per pay period.
- Benefits for this position include Medical, vision, dental, life, and disability insurance, flexible paid time off and 11 paid holidays annually.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
