Escrow & Insurance Portfolio Specialist

MutualOne Bank; Natick (MA); Hybrid; USD 65,000 - 85,000; Full time

Job summary

MutualOne Bank is hiring an Escrow & Insurance Portfolio Specialist to administer escrow and insurance servicing throughout loan lifecycles. The role requires precise analytics, timely processing of tax and insurance disbursements, and strong documentation for audit readiness.

Initial training will be on-site, followed by a hybrid work arrangement. The ideal candidate has 2 years in mortgage servicing, knowledge of escrow analysis, PMI, and flood insurance tracking, and proficient Excel skills.

Qualifications

• High school diploma or equivalent required; associate or bachelor’s degree preferred.
• 2 years mortgage/loan servicing experience preferred, with emphasis on escrow and/or insurance administration.
• Working knowledge of escrow analysis, PMI, property tax disbursement cycles, hazard, builders’ risk, liability, and flood insurance tracking.

Responsibilities

• Manage and maintain escrow accounts for real estate and commercial loans.
• Perform escrow analyses, including annual and periodic reviews.
• Process escrow disbursements for taxes, insurance, and other obligations.
• Review insurance documents for accuracy, coverage limits, and proper endorsements.
• Track and monitor non-escrowed tax accounts to ensure timely payment and compliance.
• Coordinate force-placed flood insurance when coverage is insufficient or lapses.
• Oversee insurance transitions on construction loans, including conversion to permanent hazard insurance.
• Administer and monitor flood insurance compliance in accordance with regulatory requirements.
• Review flood determinations and ensure appropriate coverage for SFHAs.
• Verify flood policies meet minimum coverage and naming requirements.
• Track flood insurance expirations and renewals.
• Respond to borrower inquiries related to escrow, insurance, PMI, and tax tracking.
• Work with Commercial Lending, Commercial Loan Support, Lending Compliance, and Credit Administration.
• Comply with applicable laws and department timelines.

Skills

Escrow servicing

Tax disbursement

Insurance servicing

PMI management

MS Office

Time management

Education

High school diploma

Associate or Bachelor's degree preferred

Tools

Microsoft Excel

Microsoft Outlook

Loan servicing platforms

Job description

Position DescriptionTitle: Escrow & Insurance Portfolio SpecialistDepartment: Loan ServicingReports to: AVP, Loan Servicing ManagerSupervises: NoneClassification: Non-exemptDate Prepared: September 21, 2026Summary / ObjectiveThe Escrow & Insurance Portfolio Specialist is responsible for administering escrow and insurance servicing functions throughout the life of the loan in accordance with established policies, procedures, internal controls, and applicable regulatory requirements. This role ensures accurate collection, disbursement, and analysis of escrow funds, while maintaining proper insurance coverage and tracking requirements in accordance with loan agreements and regulatory standards. The position requires strong attention to detail, deadline management across daily/monthly/annual cycles, and thorough documentation to support audit readiness. The initial training period will be on-site. After the initial training period, time to be determined, this is a hybrid role.Experience & Education Requirements:High school diploma or equivalent required; associate or bachelor’s degree preferredTwo (2) years of mortgage/loan servicing experience preferred, with emphasis on escrow and/or insurance administrationWorking knowledge of escrow analysis, PMI, property tax disbursement cycles, hazard, builders’ risk, liability, and flood insurance tracking.Demonstrated ability to manage time-sensitive exceptions, meet deadlines, and maintain accurate documentationEssential Job Functions:Manage and maintain escrow accounts for real estate and commercial loansPerform escrow analyses, including annual and periodic reviewsProcess escrow disbursements for taxes, insurance, and other obligationsReview insurance documents for accuracy, coverage limits, and proper endorsementsTrack and monitor non-escrowed tax accounts to ensure timely payment and complianceTrack and follow up on expiring, insufficient, or missing insurance policiesCoordinate force-placed flood insurance when coverage is insufficient or lapsesOversee insurance transitions on construction loans, including conversion from Builder’s Risk and liability coverage to permanent hazard insurance upon project completionAdminister and monitor flood insurance compliance in accordance with regulatory requirementsReview flood determinations and ensure appropriate coverage is in place for loans located in Special Flood Hazard Areas (SFHAs)Verify flood insurance policies meet minimum coverage requirements, including proper naming of lender/loss payee and coverage amountsTrack flood insurance expirations and ensure timely renewal and complianceIssue and monitor required borrower notifications related to flood insurance requirementsManage and track Private Mortgage Insurance (PMI), including monitoring eligibility and cancellation requirementsRespond to borrower inquiries related to escrow, insurance, PMI, and tax trackingWork closely with internal departments (Commercial Lending, Commercial Loan Support, Lending Compliance, Credit Administration)Comply with all applicable federal, state, local laws and regulations, as well as adhere to established timelines and department workflow expectations.Assist with audits, reporting, and quality control reviewsRequired knowledge, skills & abilities:Working knowledge of escrow servicing practices, property tax disbursement cycles, and escrow analysis requirementsUnderstanding hazard and flood insurance servicing requirements, including flood determinations, worksheets, invoices, and map-to-policy verificationStrong attention to detail with the ability to validate calculations, invoices, and disbursement accuracyAbility to interpret and resolve exception reporting across daily, monthly, quarterly, and annual servicing cyclesStrong organizational skills with the ability to prioritize effectively and meet time-sensitive deadlinesEffective written and verbal communication skills, including vendor coordination and internal collaborationProficiency in Microsoft Office (Excel, Outlook, Word) and servicing platformsAbility to exercise sound judgment, identify servicing risk, and escalate issues appropriatelyPhysical Demands and Work Environment:Ability to use standard equipment such as computers, phones, and photocopiersRequires manual dexterity and sitting and standing for longer periods of timeMust be able to work schedules that meet the needs of the Bank, which may include early morning, evening and /or weekend hoursReasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.Other DutiesThis job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. It is expected that from time-to-time other duties, both related and unrelated to the above, may be assigned and therefore required.