Escrow Holdback Pro: Close & Disburse

CCM CrossCountry Mortgage, LLC; Cleveland (OH); On-site; USD 42,000 - 66,000; Full time

Job summary

CrossCountry Mortgage, LLC is seeking an Escrow Holdback Specialist to manage disbursement and post-closing tasks for Escrow Holdback Loans. You will prepare borrower communications, verify fund locations, and ensure timely disbursements in line with disclosures.

You'll review appraisals, monitor loan progress, coordinate with loan officers, branch representatives, title companies, municipalities and contractors to close out holdbacks, and maintain daily logs in Encompass.

Qualifications

• High School Diploma or equivalent.
• 1 year of Mortgage Lending or Financial Industry experience preferred.
• Knowledge of Encompass preferred.
• Proficient in math and analytical skills.
• Excellent professional communication skills.Adept in problem solving.
• Excellent prioritization and time management.
• Experienced with Microsoft Outlook, Excel, Word and Windows.

Responsibilities

• Complete the Escrow Holdback Loan disbursement process.
• Send out Borrower Email Welcome Packages.
• Verify where Escrow Holdback Funds are being held.
• Review the Closing Disclosure and reconcile with the 2015 Itemization for fund allocations.
• Review Appraisal for work to be completed.
• Monitor undeliverable loans and request lock rate extensions as required.
• Monitor and authorize Municipality and Title Company release of funds.
• Monitor each loan’s progress and manage daily borrower communication.
• Interface with Loan Officers, Branch representatives, Closers, Title Companies, Municipalities and Contractors all to facilitate close out of Escrow Holdbacks.
• Maintain and update daily communication logs on projects by entering information into Encompass (the operating system’s fields and folders).
• Order the inspections, coordinate scheduling, and retrieve reports from respective websites.
• Collect the w-9, lien waiver, invoice, release authorization and any necessary inspections to release Escrow Holdback Funds.
• Disburse Escrow Holdback Funds within allotted timeframes set by agency and lender.
• Process the close out of the Escrow Holdback with any related Agencies as required.
• Perform other adjacent team duties as needed.

Skills

Math skills

Analytical thinking

Communication skills

Time management

Problem solving

Attention to detail

Education

High School Diploma or equivalent

Tools

Encompass

Microsoft Outlook

Excel

Word

Windows

Job description

CrossCountry Mortgage, LLC is seeking an Escrow Holdback Specialist to manage disbursement and post-closing tasks for Escrow Holdback Loans. You will prepare borrower communications, verify fund locations, and ensure timely disbursements in line with disclosures.

You'll review appraisals, monitor loan progress, coordinate with loan officers, branch representatives, title companies, municipalities and contractors to close out holdbacks, and maintain daily logs in Encompass.