Escrow Assistant

COCC; Natick (MA); Hybrid; USD 54,000 - 81,000; Full time

Benefits offered by this job

Hybrid work model

On-site for first 90 days

Job summary

COCC is seeking an Escrow & Insurance Portfolio Specialist to join its Loan Servicing team in the Natick/Framingham area. This role focuses on managing escrow accounts, analyzing escrow, and ensuring insurance compliance across residential, commercial, and construction loan portfolios.

You will collaborate with Commercial Lending, Lending Compliance, and Credit Administration, maintaining accurate documentation and supporting audits and reporting.

Qualifications

• Mortgage or loan servicing experience preferred.
• Knowledge of escrow administration and PMI.
• Familiarity with tax disbursement cycles and insurance types.
• Ability to manage deadlines and servicing exceptions.

Responsibilities

• Manage and maintain escrow accounts for residential, commercial, and construction loans.
• Perform annual and periodic escrow analyses.
• Process escrow disbursements for taxes, insurance, and other obligations.
• Review insurance documentation for accuracy, coverage requirements, and endorsements.
• Track non-escrowed tax accounts to ensure timely payment and compliance.
• Monitor expiring, insufficient, or missing insurance policies and follow up as needed.
• Coordinate force placed insurance when coverage lapses or is insufficient.
• Administer flood insurance tracking and compliance requirements.
• Review flood determinations and verify appropriate coverage for loans located in Special Flood Hazard Areas.
• Monitor flood insurance renewals and borrower notification requirements.
• Manage and track Private Mortgage Insurance eligibility and cancellation requirements.
• Support construction loan insurance transitions from Builder's Risk and liability coverage to permanent hazard insurance.
• Respond to borrower inquiries regarding escrow, insurance, PMI, and tax tracking.
• Partner with Commercial Lending, Commercial Loan Support, Lending Compliance, and Credit Administration teams.
• Assist with audits, reporting, quality control reviews, and ongoing portfolio maintenance.

Skills

Escrow administration

Escrow analysis

Insurance compliance

Loan servicing

Attention to detail

Documentation accuracy

Communication skills

Education

Associate's or bachelor's degree preferred

High school diploma or equivalent required

Tools

MS Excel (Office)

Job description

Our client, a growing community bank in the Natick/Framingham area, is seeking an Escrow & Insurance Portfolio Specialist to join its Loan Servicing team. This is an excellent opportunity for a detail oriented banking professional who enjoys managing escrow accounts, insurance compliance, and loan servicing operations while working closely with multiple internal departments.

What You'll Do

• Manage and maintain escrow accounts for residential, commercial, and construction related loans
• Perform annual and periodic escrow analyses
• Process escrow disbursements for taxes, insurance, and other obligations
• Review insurance documentation for accuracy, coverage requirements, and endorsements
• Track non escrowed tax accounts to ensure timely payment and compliance
• Monitor expiring, insufficient, or missing insurance policies and follow up as needed
• Coordinate force placed insurance when coverage lapses or is insufficient
• Administer flood insurance tracking and compliance requirements
• Review flood determinations and verify appropriate coverage for loans located in Special Flood Hazard Areas
• Monitor flood insurance renewals and borrower notification requirements
• Manage and track Private Mortgage Insurance eligibility and cancellation requirements
• Support construction loan insurance transitions from Builder's Risk and liability coverage to permanent hazard insurance
• Respond to borrower inquiries regarding escrow, insurance, PMI, and tax tracking
• Partner with Commercial Lending, Commercial Loan Support, Lending Compliance, and Credit Administration teams
• Assist with audits, reporting, quality control reviews, and ongoing portfolio maintenance

What You'll Bring

• High school diploma or equivalent required
• Associate's or bachelor's degree preferred
• Two years of mortgage or loan servicing experience preferred
• Knowledge of escrow administration, escrow analysis, PMI, property tax disbursement cycles, hazard insurance, flood insurance, liability insurance, and Builder's Risk insurance
• Strong attention to detail and ability to maintain accurate documentation
• Experience managing deadlines and servicing exceptions
• Proficiency with Microsoft Office applications including Excel, Outlook, and Word
• Strong written and verbal communication skills
• Ability to identify risk, exercise sound judgment, and escrow issues appropriately
• Experience with commercial lending portfolios is highly valued

This is a hybrid role. The first 90 days will be fully on-site and then the schedule will be 2 days on-site and 3 days remote. The salary range for this role is $54,000 - $81,0000.