Escrow Servicing Specialist

mechanicsbank; Federal Way (WA); On-site; USD 52,000 - 78,000; Full time

Job summary

Mechanics Bank is seeking an Escrow Servicing Specialist to join our team on-site in Washington. You will handle escrow administration for property taxes, insurance, mortgage insurance, and loss claims on residential and consumer loans, ensuring accuracy and compliance.

You will monitor loan setups, process tax and insurance activity, manage loss claims, and research complex servicing issues while coordinating with customers and external parties to reach timely resolutions.

Qualifications

• 2 years Loan Servicing experience preferred, with Escrow Administration experience preferred.
• Strong knowledge of escrow and loan servicing processes.
• Ability to explain complex servicing information to customers and internal partners.

Responsibilities

• Perform Escrow Administration functions for property taxes, insurance, mortgage insurance, and loss claims.
• Monitor loan setup and escrow information in the servicing system.
• Process and monitor tax and insurance activity, disbursements, and related research.
• Handle loss claims from receipt to completion per investor and regulatory requirements.
• Research and resolve complex escrow issues with customers, authorities, and vendors.

Skills

Escrow Administration

Loan Servicing

Research & Problem Solving

Attention to Detail

Education

High School diploma or GED

Tools

Loan Servicing Software

Job description

Mechanics Bank is currently searching for an Escrow Servicing Specialist to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be working on-site.

The Escrow Servicing Specialist is responsible for performing a variety of Escrow Administration functions related to property taxes, insurance, mortgage insurance, and loss claims on residential and consumer loans. This position monitors and maintains accurate loan servicing information, processes and monitors disbursements, researches and resolves servicing issues, and ensures activities are completed accurately and timely in accordance with applicable Bank, investor, regulatory, and servicing requirements.

This position handles complex and confidential loan servicing matters with a high level of independence and provides accurate, timely, and professional service to customers, internal partners, and third parties.

What you will do:

Escrow Administration & Processing:

• Perform and support Escrow Administration functions related to property taxes, insurance, mortgage insurance, and loss claims on residential and consumer loans.
• Monitor new loan setup and maintain accurate escrow-related information in the Loan Servicing system, in accordance with Bank, investor, regulatory, and loan servicing requirements.
• Process and monitor property tax activity, including payments, delinquency and assessment tracking, disbursements, payee information, due dates, and related research.
• Process and monitor insurance activity, including policy renewals and cancellations, premiums, coverage requirements, mortgagee clauses, and hazard, flood, and other applicable insurance.
• Process and manage loss claims from initial receipt through completion, including monitoring claim funds, disbursements, inspections, repairs, documentation, and applicable servicing requirements.
• Monitor and review loans with mortgage insurance for accurate information based on the applicable investor. Process mortgage insurance premium payments and deletions. As well as escrow waiver and additions

Research & Issue Resolution:

• Research and resolve complex escrow and loan servicing matters involving property taxes, insurance, loss claims, escrow analysis, mortgage insurance, and other related servicing topics.
• Work directly with customers, taxing authorities, insurance companies, agents, vendors, and other third parties to obtain information, resolve discrepancies, and facilitate timely resolution.
• Evaluate servicing issues, determine appropriate solutions, facilitate necessary corrections or adjustments, and elevate matters when appropriate.
• Provide accurate and timely information to internal and external customers and clearly explain complex escrow and loan servicing requirements and processes.

Compliance, Quality & Process Improvement:

• Ensure escrow transaction, disbursements, account maintenance, and documentation are completed accurately and in accordance with applicable Bank, investor, regulatory, and servicing requirements.
• Maintain accurate records and documentation and participate in procedure reviews, system testing, department projects, and process improvement.

Team & Department Support:

• Cross-train and provide backup support across Escrow Administration functions; participate in new employee training and provide guidance to less experienced team members, as assigned.
• Support critical deadlines and changing business needs and perform other duties as assigned.

Who you are:

• High School or GED required.
• 2 years Loan Servicing experience preferred, with Escrow Administration experience preferred.
• 2 years Mortgage and consumer loan experience required; experience with property taxes, insurance, loss claims/loss drafts, loan origination, escrow, or title preferred.
• Working knowledge of mortgage and consumer loan servicing practices, with knowledge of escrow administration, including property taxes, insurance, and loss claims.
• Ability to understand and apply Bank policies, investor guidelines, regulatory requirements, and established servicing procedures.
• Strong research, analytical, problem-solving, and decision-making skills with the ability to resolve complex servicing issues.
• Strong attention to detail and accuracy with the ability to maintain complete and accurate loan, escrow, and servicing records.
• Ability to effectively organize, prioritize, and manage multiple responsibilities and deadlines in a fast-paced environment.
• Strong written and verbal communication skills with ability to clearly explain complex servicing information to customers, internal partners, and third parties.
• Ability to exercise sound judgement, maintain confidentiality, and appropriately escape matters when necessary.

ADA Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics descri