Escrow Officer is responsible for providing escrow information to clients and loan officers. Supervises the preparation and delivery of all necessary escrow documents. Being an Escrow Officer provides mortgage holders with required tax documentation for filing tax returns. Ensures the process and documents are in compliance with all applicable regulations and laws. Additionally, Escrow Officer may require an associate degree. Typically reports to a manager or head of a unit/department. The Escrow Officer supervises a small group of para-professional staff in an organization characterized by highly transactional or repetitive processes. Contributes to the development of processes and procedures. To be an Escrow Officer typically requires 3 years experience in the related area as an individual contributor. Thorough knowledge of functional area under supervision. (Copyright 2024 Salary.com)
Language Fluency: English (Required)
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108Please review the following job description:
Responsible for the efficient and accurate management of the Mortgage Loan Servicing Insurance Escrow Administration area (e.g. Private Mortgage Insurance (PMI)/Mortgage Insurance Premium (MIP), Optional Insurance, Hazard Insurance, Flood Insurance, and Loss Drafts). Act as first line of defense to maintain compliance with all regulatory, Investor, and Bank imposed requirements for Mortgage Loan Servicing Insurance Escrow Administration.Essential Duties and Responsibilities
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Ensure team members adhere to all governing servicing SLAs, regulations and investor requirements. Oversee proper management, budget, staffing, performance and development; as well as, hire, train and coach staff. Establish, review and maintain department standards; identify gaps, coordinate improvements and develop controls to enhance efficiencies and minimize risks. Manage operations within appropriate risk tolerance, including settlement and loss authority limits. Identify and communicate adverse issues, trends or inefficiencies to senior management and other lines of business along with proposed solutions; implement agreed upon resolutions. Build and maintain relationships with internal and external business partners, managing expectations and accountability All other duties as assigned.
Qualifications
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Skills:
Education or training in Mortgage, Finance, or strongly related Industry A minimum of seven years in a management or leadership role of individual contributors Ten years of exposure to default, mortgage servicing or strongly related field Strong oral and written communication skills Strong interpersonal, time management and organizational skills Ability to work in a regularly changing and medium-paced environment High ability to operate independently Ability to lead and manage a medium organization and direct non-income expense
Other Job Requirements / Working Conditions
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þ Visual / Audio / Speaking
Able to access and interpret client information received from the computer and able to hear and speak with individuals in person and on the phone.
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.