Mortgage MP Escrow Specialist II

Fifth Third Bank•Cincinnati, OH

4d•Onsite

About The Position

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. This position is based in Cincinnati, Ohio. We are unable to do remote on this position. GENERAL FUNCTION: Under minimal supervision, complete complex customer research related to escrow analysis, tax and insurance for mortgage, consumer, auto, lease and commercial accounts. Work with tax and insurance vendors for mortgage, consumer, auto, lease and commercial accounts as well as customers to ensure tax/insurance related issues are resolved timely.

Requirements

Associate's Degree or equivalent combination of training and experience in related field.
Minimum 2-3 years related experience required.
Knowledge of the fundamental concepts related to mortgage, consumer, auto and lease and the ability to apply that knowledge in a quality control function.
Basic knowledge of the Bank's, Investor's, Government and Underwriting Program requirements.
Basic knowledge of all documents used by the Bank in the origination of FHA, VA and conventional loans.
Knowledge in Microsoft Outlook, Word, Excel and Access (or equivalent database reporting programs).
Strong Customer Service Skills.
Strong verbal and written communication skills.
Strong analytical skills.
Ability to work efficiently with a low margin of error.
Ability to work independently and meet deadlines.

Responsibilities

Handle complex calls with customers related to escrow analysis, tax, insurance, PMI and FHA.
Act as key contact for Office of the President and other 3rd party agency complaints.
Assumes a high level of responsibility in resolving escalated research issues related to customer accounts.
Trains new employees and employees from other areas on various insurance, tax and analysis functions.
Able to assist with quality audits and vendor management.
Responds to assessments from QC & compliance departments.
Work the monthly trial balance analysis report, payment change & surplus reports (monitored by FDICIA and Sarbanes Oxley) to ensure customers mortgage payments are adjusted in accordance with RESPA guidelines.
Review & document any accounts with payment increases or decreases that fall outside of the established escrow parameters.
Complete the daily shortage payment reports to ensure that customer's payments are adjusted correctly.
Complete monthly exception report to clear any error that would prevent the annual analysis.
Work exception reports from escrow vendors to ensure the timely completion of payment processing for monthly transactions, monitored by FDICIA & Sarbanes Oxley.
Prepare wires to outsourced providers of tax and insurance.
Complete weekly audits of outsource providers to ensure proper compliance with Federal, investor and Bancorp requirements.
Review, approve or deny & pay claims for tax provider that result in 5/3 charge offs.
Work closely with venders, customers, tax agencies, insurance companies & affiliates on customer services issues relating to escrow processing; make appropriate account adjustments to correct improper escrow line set-up issues.
Work w/ Title Agencies to file claims on incorrect legal descriptions they provided and to also get corrected legal descriptions & title commitments to secure the bank's asset.
Track & recover corporate advance utilized to clear incorrect escrow payments.
Process daily correspondence & send to vendors in overnight transactions.
Complete customer requests to add, delete & reanalyze escrow accounts.
Clearly explain customers escrow analysis statements, involves detailed mathematical understanding and calculations.
Research insurance & tax issues that create overages & shortages on customer accounts.
Ensure monthly analysis checks & statements are mailed to customers in accordance with RESPA guidelines.
Work w/ default to ensure accounts coming out of bankruptcy & loan modifications are analyzed w/in 30 days according to RESPA requirements.