Mortgage Escrow & Insurance Specialist

Farmers National Bank of Canfield; Canfield (OH); On-site; USD 42,000 - 60,000; Full time

Job summary

Farmers National Bank of Canfield is seeking an Escrow Specialist to manage escrow payments for mortgage loans, ensuring timely coverage of insurance, taxes, and investor-sold loans using system reports and notices to keep escrow accounts current.

The role involves communicating with borrowers, insurance companies, and branches; setting up escrow addenda, monitoring force-placed coverage, and maintaining accuracy in tax and disbursement records.

Qualifications

• 3 years’ experience with escrow in a loan servicing environment or title company required.
• Strong attention to detail with ability to multi task.
• Understanding of GLs and flow of funds for disbursements from customer’s escrow account.
• Good verbal and written communication with ability to explain escrow analyses clearly.
• Knowledge of escrow analysis and compliance.

Responsibilities

• Disburse funds from borrowers escrow account for the payment of various insurances by date due.
• Ensure loans with escrow are set up correctly and addenda reference the correct vendor, payee, due date and expiration of policy.
• Notify IT of need for new vendors for any vendor type for taxes or insurances.
• Use Business Analytics reports to monitor open items for bills and dec pages not received; contact insurance companies for documents.
• Monitor non escrow accounts using BA reports to ensure receipt of non-escrow policies for investor sold loans.
• Contact borrower and/or insurance company upon receipt of cancellation notices and initiate force place process as needed.
• Ensure escrow disbursement GL is cleared timely for disbursements from borrower’s escrow account.
• Act as the main contact with branches, customers and agents on escrow questions including insurance payments or taxes.
• Open and identify daily insurance mail; assist with escrow analysis questions.
• Assist with questions on removal of private mortgage insurance and mailing of annual disclosures.
• Perform data entry of new tax records in tax servicer’s website.
• Complete mandatory training including BSA and Anti-Money Laundering procedures; maintain compliance.

Skills

Attention to detail

Verbal and written communication

Multi-tasking

Problem solving

Team oriented

Education

High school diploma or GED

Job description

Farmers National Bank of Canfield is seeking an Escrow Specialist to manage escrow payments for mortgage loans, ensuring timely coverage of insurance, taxes, and investor-sold loans using system reports and notices to keep escrow accounts current.

The role involves communicating with borrowers, insurance companies, and branches; setting up escrow addenda, monitoring force-placed coverage, and maintaining accuracy in tax and disbursement records.