Escrow Servicing Specialist

Mechanics Bank•Federal Way, WA

10d•Onsite

About The Position

Mechanics Bank is seeking an Escrow Servicing Specialist to perform escrow administration functions for property taxes, insurance, mortgage insurance, and loss claims on residential and consumer loans. The role monitors and maintains accurate loan-servicing information, processes and tracks disbursements, researches and resolves servicing issues, and ensures work is completed accurately and promptly in accordance with applicable Bank, investor, regulatory, and servicing requirements. The position handles complex and confidential loan-servicing matters with a high degree of independence and provides professional service to customers, internal partners, and third parties. The role is performed on-site. The specialist manages escrow-related loan setup and account information, property tax and insurance activity, loss claims, mortgage insurance, escrow waivers, and additions. The role researches complex servicing matters and works with customers, taxing authorities, insurers, agents, vendors, and other parties to resolve discrepancies and issues. It also supports compliance, recordkeeping, quality, procedure reviews, system testing, department projects, and process improvement. The specialist may cross-train and provide backup across escrow administration functions, assist with training new employees, and guide less experienced team members as assigned. The position requires a high school diploma or GED and at least two years of mortgage and consumer loan experience. Loan servicing and escrow administration experience are preferred. The physical demands include regularly sitting, talking or hearing, and using hands to handle objects or controls; occasional standing, walking, reaching, stooping, kneeling, crouching, crawling, and lifting or moving up to 10 pounds. The work environment typically has a moderate noise level.

Requirements

High school diploma or GED required.
At least 2 years of mortgage and consumer loan experience required.
Working knowledge of mortgage and consumer loan servicing practices, including escrow administration, 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, including 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 organize, prioritize, and manage multiple responsibilities and deadlines in a fast-paced environment.
Strong written and verbal communication skills, including the ability to explain complex servicing information clearly.
Ability to exercise sound judgment, maintain confidentiality, and escalate matters appropriately.

Nice To Haves

Two years of loan servicing experience preferred.
Escrow Administration experience preferred.
Experience with property taxes, insurance, loss claims or loss drafts, loan origination, escrow, or title preferred.

Responsibilities

Perform 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 servicing requirements.
Process and monitor property tax payments, delinquency and assessment tracking, disbursements, payee information, due dates, and related research.
Process and monitor insurance policies, including renewals, cancellations, premiums, coverage requirements, mortgagee clauses, and hazard, flood, and other applicable insurance.
Manage loss claims from initial receipt through completion, including claim funds, disbursements, inspections, repairs, documentation, and applicable servicing requirements.
Review loans with mortgage insurance for accurate information based on the applicable investor, process mortgage insurance premium payments and deletions, and handle escrow waivers and additions.
Research and resolve complex escrow and loan servicing matters involving property taxes, insurance, loss claims, escrow analysis, mortgage insurance, and related topics.
Work 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 solutions, make necessary corrections or adjustments, and escalate matters when appropriate.
Provide accurate and timely information and explain escrow and loan servicing requirements and processes to customers, internal partners, and third parties.
Ensure transactions, disbursements, account maintenance, and documentation are accurate and comply with applicable requirements.
Maintain accurate records and documentation and participate in procedure reviews, system testing, department projects, and process improvement.
Cross-train and provide backup across Escrow Administration functions; participate in new employee training and guide 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 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 and voluntary legal and identity theft services.
11 paid holidays, paid sick days, up to 25 paid vacation days, and 16 hours of paid volunteer time annually.
Free personal checking and savings account.
Discounted rates on primary residence loans with $0 origination fees, subject to restrictions.
Annual incentive plan bonus up to 5%.