Escrow Analysis Specialist

Overview

Navy Federal Credit Union currently does not provide sponsorship for this role. Applicants must be authorized to work in the United States without the need for current or future sponsorship.

Responsible for processing and performing tasks associated with customer escrow balances. Verify the adequate collection and administration of monies collected, reviews discrepancies found within the administration of the escrow accounts and initiate, with the appropriate servicing area, any needed corrections. Review escrow accounts annually to ensure escrow collection is sufficient for outstanding tax and insurance coverage. Process member escrow analysis in accordance with RESPA guidelines.

Verify significant loan data obtained from the mortgage loan documents received at closing to minimize risk, penalty or damage from non-payment to ensure accuracy and timeliness of all tax and insurance bills. Assist with researching and resolving all escrow analysis related requests and inquiries received from various channels including, but not limited to, current tax bills, verification of tax payments, delinquent tax bills, escrow tax questions and escrow analysis.

Work under moderate supervision.

• Process Moderately complex various modification programs to determine escrow balance changes
• Provide members with explanations of escrow deficiencies and provides documentation to support such deficiencies of Moderate complexity
• Reviews Basic/Limited loan system application for inaccurate billing information and implement resolution
• Communicate and/or implement corrective actions to affect improvements to mortgage & equity account operations
• Perform initial escrow analysis statement review within 45 days of closing in accordance with RESPA guidelines
• Perform Basic/Limited research, document, and provide members with escrow analysis differences by reviewing Settlement Sheet, payment history, insurance coverage, modification programs or previous tax/insurance disbursements
• Create Basic/Limited summary reports to management on loan closing escrow and tax/escrow discrepancies
• Verify monthly outstanding check list to determine if member has cashed check and research as necessary
• Perform Basic/Limited review of escrow accounts annually to ensure escrow collection is sufficient for outstanding tax and insurance bills
• Communicate discrepancies to appropriate tax/insurance servicing area for correction
• Audit and resolve Moderately complex monthly outstanding escrow tasks to be completed from previous month
• Load loan processing system with current tax data including parcels, due dates, County, and payment amounts
• Perform Basic/Limited review the appraisal to determine the land value, update in loan processing system
• Perform other duties as assigned

• Familiarity with financial institution and lending practices, principles, and regulation
• Experience in member/customer service preferably in a call center/retail banking/financial institution
• Familiarity with insurance regulations that affect the establishment/administration of state escrow requirements
• Familiarity with escrow analysis, property taxes and payment schedules
• Familiarity with state and federal laws affecting escrow processes and procedures
• Exposure to escrow servicing functions of mortgage and equity loans
• Ability to work independently and in a team environment
• Experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Experience in working with all levels of staff, management, stakeholders, vendors
• Ability to work effectively and efficiently with automated systems
• Effective skill maintaining accuracy with attention to detail and meeting deadlines
• Effective skill reviewing documents for errors, inconsistencies, or missing information
• Effective research, analytical, and problem-solving skills
• Effective skill following, interpreting, and applying guidelines, procedures, practices, regulations
• Effective skill exercising initiative and using good judgment to make sound decisions
• Effective organizational, planning and time management skills
• Effective skill interacting with staff, management, vendors, members diplomatically…