Escrow Administration - Servicing Administration Support

SERVION INC; New Brighton (MN); On-site; USD 30,000 - 40,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

Life Insurance

Short-term Disability

Long-term Disability

401k with company match

Discretionary Bonus

Job summary

SERVION INC. is seeking an Escrow Admin Specialist to support the servicing department in New Brighton, MN.

The role involves extensive administrative work, coordinating escrow tasks, processing mortgage insurance cancellations, and ensuring investor guidelines are followed for FHA/VA/FNMA/N, while delivering direct service to borrowers. The Senior – Level II path includes training responsibilities and escalation handling, with opportunities to advance as processes evolve and business needs

Qualifications

• Familiarity with investor/guideline requirements (FHA, FNMA, GNMA, FHLMC, VA, FHLB, USDA).
• Basic MS Office skills are required.
• Proficiency with mortgage loan software and reporting communications is expected.

Responsibilities

• Extensive administrative work in Escrow operations within Servicing Department.
• Coordinate escrow account actions per investor/CFPB guidelines; process losses and cancellations.
• Assist borrowers, agents, investors and vendors; report to investors as required.

Skills

AllRegs familiarity

MS Office basics

Mortgage loan software

Reporting & communications

Education

High School Diploma or GED

Tools

AllRegs

Mortgage loan software

MS Office

Job description

Description

Summary:

Extensive administrative work involved in operations of the Escrow operations of the Servicing Department. Coordination of various functions of insurance loss draft claims, private mortgage insurance termination/cancellation, initiation and removal of escrow accounts and investor guidelines. Specialists’ work is involved in servicing the mortgage loans and providing direct member service to the borrowers. Primary contacts include borrowers, agents, investors and vendors.

ESSENTIAL RESPONSIBILITIES & DUTIES:

Entry Level

• Know and understand investor/insurer guidelines specifically FHA, FNMA, GNMA, FHLMC, VA, FHLB, USDA.
• Report to investors as required while maintaining all aspects of investor compliance.
• Process Mortgage Insurance cancellations and terminations strictly adhering to the Homeowners Protection Act and investor guidelines
• Establish and remove escrow accounts per investor and CFPB guidelines
• Process Loss Draft Claims
• Perform all other servicing duties as requested or required.

Senior – Level II

• Must be able to perform all responsibilities and functions listed for Level I with a high degree of independence
• Responsible for the training of new and current Escrow Admin Specialists
• Serve as a resource for other Escrow Admin Specialists regarding operations, policies or procedures.
• Execute account resolution according to investor specifications.
• Handle escalated insurance matters, includes researching and providing a resolution to the borrower of investor.
• Must be capable of adapting, with minimal or no advance notice, to changes in how business is conducted and work is accomplished, with no diminishment in work performance.
• Perform related duties as required.

ESSENTIAL DUTIES, KNOWLEDGE, SKILLS, ABILITIES:

Required:

• Thorough knowledge of first mortgage real estate lending practices, including federal regulatory requirements, state regulations, agency and Credit Union requirements.
• Familiarity with AllRegs.
• Basic MS Office skills.
• Proficient with mortgage loan software.
• Reporting, letter preparation, group presentation and other related communications skills.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Attend meetings or perform other assignments at locations outside the office, if necessary.

Preferred:

• Experience with Loss Drafts
• Experience with Escrows
• Experience with Private Mortgage Insurance/Mortgage Insurance

COMPENSATION: $22.49 – $29.87 per hour

The Servion Group has provided a salary range that represents its good faith estimate of what the company may pay for the position at the time of posting. The specific salary offered will be determined based on factors such as the qualifications of the selected candidate, departmental budget, internal salary equity considerations, and available market information.

General Description of Benefits:

• Medical Insurance
• Telehealth Services
• Dental Insurance
• Vision Insurance
• Life Insurance
• Short-term Disability
• Long-term Disability
• Legal and Identity Theft Protection
• Critical Illness Insurance
• Hospital Insurance
• Accident Insurance
• Participation in 401k Plan with up to 5% company match
• Discretionary Bonus Possible but not guaranteed

Requirements

PREFERRED QUALIFICATIONS:

• Education: High School Diploma, GED or Equivalent.
• Experience: Entry Level 1-3 years in mortgage industry; Senior – Level II 3-5 years in the mortgage industry.
• Licenses/Certifications: none