Loan Operations Representative - Escrow

PriorityOne Bank • Magee, MS

1d

About The Position

The Loan Operations Representative - Escrow plays a critical role in managing and facilitating the escrow process within loan operations to ensure smooth and compliant loan closings. This position is responsible for coordinating escrow account activities, including disbursements, reconciliations, and compliance with regulatory requirements. The representative acts as a liaison between borrowers, lenders, title companies, and other stakeholders to resolve any escrow-related issues promptly and accurately. By maintaining detailed records and monitoring escrow accounts, this role helps mitigate risks and supports the overall financial integrity of loan transactions. Ultimately, the Loan Operations Representative ensures that escrow processes are executed efficiently, contributing to a positive customer experience and adherence to company policies and industry standards.

Requirements

• High school diploma or equivalent; Associate’s or Bachelor’s degree in finance, business, or related field preferred.
• Minimum of 1-2 years experience in loan operations, escrow services, or a related financial services role.
• Strong understanding of escrow processes, loan documentation, and regulatory compliance requirements.
• Proficiency with loan servicing software and Microsoft Office Suite, particularly Excel.
• Excellent communication and organizational skills with strong attention to detail.
• Strong communication skills are essential for effectively collaborating with borrowers, lenders, and third-party vendors to resolve escrow issues and provide clear updates.
• Attention to detail is critical when reviewing escrow statements and loan documents to ensure accuracy and compliance with regulatory standards.
• Proficiency in loan servicing software and Microsoft Excel enables the representative to efficiently track escrow accounts, perform reconciliations, and generate reports.
• Problem-solving skills are frequently applied to identify discrepancies and implement corrective actions promptly.
• Organizational skills help manage multiple escrow accounts and deadlines, ensuring smooth loan closings and customer satisfaction.

Nice To Haves

• Experience working in mortgage lending or real estate escrow operations.
• Familiarity with federal and state regulations governing escrow accounts, such as RESPA.
• Certification related to loan servicing or escrow management (e.g., NMLS, Certified Escrow Officer).
• Demonstrated ability to manage multiple priorities in a fast-paced environment.
• Advanced skills in data analysis and reporting tools.

Responsibilities

• Manage daily escrow account activities including tracking, reconciling, and disbursing funds in accordance with loan agreements and regulatory guidelines.
• Coordinate with internal teams, borrowers, title companies, and third-party vendors to resolve escrow-related inquiries and discrepancies.
• Review escrow statements and documentation to ensure accuracy and compliance with company policies and legal requirements.
• Maintain detailed records of escrow transactions and prepare reports for management and regulatory audits.
• Assist in identifying process improvements to enhance escrow operations efficiency and reduce operational risks.

What This Job Offers

• Career Level: Entry Level
• Education Level: Associate degree