Escrow Specialist

If you are ready to join a company that truly cares about its employees, our members, and our community then you have come to the right place!

Accountabilities and Responsibilities

• Communicate with members extensively regarding the servicing of their escrow account
• Review new loans to ensure escrow records for both taxes and insurance are properly established on the Servicing Director system and all necessary documentation has been received
• Perform monthly escrow analysis; ensure all loans are analyzed annually and are completed in compliance with RESPA regulations including the collection of shortages and disbursement of overages
• Maintain Payees on the Servicing Director system for all tax and insurance records
• In addition, ensure that the CoreLogic Payee Cross Reference table is adequately maintained and reconciled on a regular basis
• In conjunction with CoreLogic Tax Service, perform all required functions for the payment of taxes
• This includes but is not limited to the processing of TAR reports in a timely manner and the execution of an ADDS files twice monthly
• Ensure CoreLogic’s records are up to date and accurate utilizing their web site SMART
• Reconcile CoreLogic’s portfolio to SEFCU’s portfolio twice annually using the First American Tax Audit program on ILS
• Following established procedures, verify that all taxes are paid by their due dates to avoid late fees and penalties
• If necessary, communicate directly with taxing authorities to obtain proper tax information
• Monitor the payment of penalties and submit to CoreLogic for reimbursement of any penalties incurred due to their failure to obtain tax bill information
• On monthly basis post Interest on Escrow
• Process weekly file transfer to AFR Services SEFCU’s insurance servicer
• Upload return file from AFR reviewing mismatch records to identify issues and correct
• Purge records as necessary
• Ensure all loans maintain adequate hazard insurance coverage
• In the event that a policy is cancelled, and no replacement coverage is received contract with SEFCU’s Forced Placed vendor, Lee & Mason, for coverage of the loan amount
• Ensure letters are to members notifying them of the new Force Placed Insurance policy
• Keep all Insurance records on Servicing Director up to date and accurate using the Tracking module
• Establish procedures to ensure all bills are paid in such a time frame as to avoid any notification of cancellation - (Disburse a minimum of 14 days in advance of the due date)
• Process monthly remittances to various PMI companies
• Monthly monitor loans with PMI and determine those that are eligible for automatic cancellation.
• Follow established procedures complete all necessary steps for removing the PMI insurance
• Answer member inquiries regarding PMI insurance including the canceling of insurance prior to the scheduled cancellation date
• Ensure proper policy and procedure is followed and all necessary documentation is received when a member opts to cancel PMI insurance
• Review reports from AFR Services to track proper insurance coverage for all non-escrowed loans
• Prepare and send NYS Regulation letters within timeframes ensuring we compliant with the regulation
• Maintain all policies and procedures related to the servicing of escrow accounts update as industry changes warrant
• Serve as backup for secondary market duties as needed
• Other duties as needed

Credentials, Experience and Skills

• High School Diploma or General Equivalency Diploma (G.E.D.) is required. An Associate’s degree is preferred
• A minimum of 1 year of mortgage servicing experience is required
• Experience with escrow accounts is preferred
• Good working knowledge of Microsoft Word and Excel
• Have detailed knowledge of all applicable internal programs and applications i.e. E3, Fiserv DNA etc
• Your ability to be bonded is required

We are an equal opportunity employer. We do not discriminate on the basis of race, creed, color, national origin, religion, sex, age, veteran status, disability, genetic information, gender identity , or any other protected class.

SEFCU is committed to ensuring individuals with disabilities and/or those who have special needs participate in the workforce and are afforded equal opportunity to apply and compete for jobs. If you would like to contact us regarding the accessibility of our Website or need assistance completing the application process, please contact us at sefcuhr@sefcu.com .

Job Type: Full-time