Mortgage Servicing Specialist

Decorah Bank & Trust Company•Decorah, IA

20h•Onsite

About The Position

Decorah Bank & Trust is seeking a full-time Mortgage Escrow Servicing Processor to join their team. This family and employee-owned company's mission is to help people achieve their financial dreams. The Mortgage Escrow Servicing Specialist is responsible for managing escrow accounts tied to residential mortgage loans, ensuring accurate collection, disbursement, and analysis of escrow funds for property taxes, insurance, and related obligations. The specialist works to maintain compliance with regulatory requirements while providing excellent customer service to borrowers, vendors, and internal stakeholders. This role also assists the bank in complying with applicable state and federal banking rules and regulations, including the Bank Secrecy Act, and must uphold the bank’s Code of Conduct, Core Values, and Service Standards.

Requirements

High school diploma or equivalent required
One to three years of experience in mortgage servicing, escrow, or banking operations preferred
Escrow analysis and disbursement processing a plus
Strong attention to detail
Analytical and problem-solving skills
Effective communication and customer service abilities
Proficiency in Microsoft Office (Excel and Word)
Ability to manage multiple priorities in a fast-paced environment
Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents
Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community
Ability to write speeches and articles for publication that conform to prescribed style and format
Ability to effectively present information to top management, public groups, and/or boards of directors
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume
Ability to apply concepts of basic algebra and geometry
Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form
Ability to deal with problems involving several concrete variables in standardized situations

Nice To Haves

Associate’s or Bachelor’s degree in a related field preferred
Escrow analysis and disbursement processing a plus

Responsibilities

Establish and maintain escrow accounts for mortgage loans
Monitor escrow balances to ensure sufficient funds for upcoming disbursements
Perform monthly escrow analysis to adjust payment amounts
Identify shortages, surpluses, and deficiencies and communicate changes to borrowers
Process timely payments for property taxes, homeowner’s insurance, and other escrowed items
Research and resolve discrepancies related to tax or insurance bills
Ensure compliance with payment deadlines to avoid penalties
Process timely payments for all department accounts payable items
Respond to borrower inquiries regarding escrow accounts, payments, and statements
Explain escrow analyses, payment changes, and account activity clearly and professionally
Work with insurance agents, tax authorities, and vendors to resolve issues
Handle customer requests – for example, payments, payoffs, advances, loan information, changes to payment schedules
Answer incoming department phone calls
Coordinate loan funding by disbursing proceeds according to closing instructions
Board newly originated loans onto the system accurately and in a timely manner
Set up loan terms, payment schedules, escrow accounts, and borrower information
Validate data integrity between origination and servicing systems
Resolve post-boarding exceptions and discrepancies
Monitor insurance coverage (hazard, flood, and other required policies) for active loans
Track insurance expirations, renewals, and coverage adequacy
Identify and manage insurance exceptions such as lapsed, insufficient, or missing coverage
Generate and send borrower notifications for insurance deficiencies
Coordinate with borrowers, agents, and vendors to obtain or update policies
Initiate force-placed insurance when required, in accordance with regulatory guidelines
Maintain accurate insurance records within servicing systems
Ensure adherence to federal and state regulations (e.g., RESPA requirements) as well as Freddie Mac or other investor requirements
Maintain accurate records and audit trails for escrow transactions
Support internal and external audits by providing required documentation
Assist and support other bank functions outside the normal scope of duties as needed to contribute to the overall success of the organization.