Escrow Specialist – Commercial/Multifamily Loan Servicing
About The Position
The Community Preservation Corporation (CPC) is a nationally recognized leader in affordable housing finance, providing capital to underserved housing markets throughout New York State since 1974. CPC is the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of over 230,000 units of quality housing. CPC focuses on expanding affordable housing, closing the racial wealth gap, and investing in the green economy. As a member of the CPC team, you will work on impactful projects that make a real difference in people's lives. We seek talented individuals passionate about our mission and sharing our values of commitment, respect, excellence, accountability, and collaboration. The Escrow Specialist is responsible for the accurate and timely execution of all Escrow functions within the commercial loan servicing platform, including Real Estate Taxes, Insurance, Mortgage Insurance, and the annual Escrow Analysis cycle. This position brings deep subject matter expertise and serves as a key control point within the process, with responsibility for in-depth review, quality control, and approval of escrow analyses and disbursements. The role ensures compliance with servicing agreements, investor requirements, and internal control standards, while maintaining a high level of data integrity and borrower service standards. Working closely with the Sr. Manager of Escrow Operations, this individual acts as a central resource for the team—resolving complex issues, managing escalations, and providing guidance, training, and support across the escrow function. The role also plays a critical part in enhancing processes, strengthening controls, and driving consistency and accuracy across the escrow workflow.
Requirements
- 5+ years of experience in commercial loan servicing or escrow operations, with strong knowledge of escrow analysis, disbursements, and investor requirements (Agency experience preferred).
- Advanced understanding of tax cycles, insurance requirements, and escrow methodologies, with the ability to independently review and validate complex scenarios.
- Proven ability to perform detailed review, QC, and approvals with strong judgment and attention to detail.
- Strong analytical and problem-solving skills with a focus on data accuracy and integrity.
- Excellent communication skills with the ability to collaborate across teams and with external partners.
- Proficiency in loan servicing systems (e.g., Strategy/McCracken) and Excel.
- Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
- Applicants must be authorized to work in the United States.
- Candidates are responsible for ensuring they meet all minimum qualifications for the position at the time of application.
Nice To Haves
- Bachelor’s degree in Business, Finance, Accounting, Real Estate, or related field preferred.
- Willingness to travel as needed
Responsibilities
- Perform detailed review, quality control, and approval of escrow disbursements for Real Estate Taxes, Insurance, and Mortgage Insurance to ensure accuracy, timeliness, and compliance with servicing standards prior to release of funds.
- Monitor and validate escrow balances to identify shortages, surpluses, and deficiencies, ensuring accurate borrower communications and timely resolution of issues.
- Conduct in-depth escrow analyses and reviews, including validation of payment histories, projected disbursements, and proposed adjustments in accordance with investor and servicing requirements.
- Support and review the annual escrow analysis cycle, including validation of calculations, review of borrower notices, and resolution of complex inquiries.
- Serve as a subject matter expert for complex escrow items, including tax delinquencies, insurance cancellations, and discrepancies, providing guidance and driving resolution of escalated issues.
- Act as a key control point within the escrow workflow, ensuring adherence to servicing agreements, internal policies, and regulatory requirements.
- Collaborate cross-functionally with Servicing, Finance, Investor Reporting, Asset Management to resolve discrepancies and support data integrity and accurate system posting.
- Identify and support process improvements, including workflow enhancements and control strengthening to increase efficiency, accuracy, and consistency.
- Contribute to the development and refinement of procedures and training materials, helping ensure consistent execution and supporting onboarding of team members.
Benefits
- Competitive compensation
- 401(k) retirement plans with employer match
- Medical, dental, and vision benefits for employees and their dependents
- Commuter benefits
- PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
- Tuition assistance program
- Two “work from anywhere” weeks per year
- Summer Fridays
- Collaborative working spaces
- Service days to support our communities
- Employee development and engagement events
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
