Loan Insurance Escrow Specialist – Tax Focused
SouthState Bank
full-time
Posted on:
Location Type: Office
Location: Charleston • South Carolina, Texas • 🇺🇸 United States
Visit company websiteJob Level
JuniorMid-Level
About the role
- Responsible for managing escrow accounts by tracking/monitoring/analyzing and disbursing taxes, insurance, and PMI related to Mortgage, Mobile Home, Commercial and Consumer Loans.
- Responsible for maintaining and updating escrow information on core servicing system.
- Monitor various reports for verification of accurate tax and insurance tracking with vendors and force placing delinquent taxes and insurance.
- Assist with special initiatives or projects and support other areas within Loan Operations as needed; ensures compliance with South State Code of Business Conduct and Ethics and other operating procedures and policies.
- Monitor and pay Insurance and Property Taxes on escrowed and non-escrowed loans.
- Monitor flood zone changes reported by vendor; ensures all real estate collateral located in a special flood hazard area maintains adequate flood insurance coverage.
- Monitor insurance vendor reports for accurate insurance tracking.
- Update flood determination data on core system.
- Monitors Tax Service reports for incomplete legal; corrections; delinquent tax payments to protect collateral.
- Processes vendor pay files to disburse tax payments and insurance premium payments from escrow to ensure no delinquency or lapse in coverage occurs.
- Audit tax payments and force place insurance billing for accurate placement on the loan and process any applicable refunds.
- Request insurance policies from Insurance companies and/or agents and submit to insurance vendor.
- Complete tax and insurance vendor reports daily, weekly and monthly.
- Monitor PMI loans to pay PMI billings, process borrower request to remove PMI and automatic termination.
- Processing requests from borrower to re-cast monthly payment after lump sum principal reduction and review Mortgage ARM Notices before delivery to vendor for mailing.
- Works and completes escrow related Source tickets from vendors, customers, lenders, and other bank personnel.
- Assists with development and regular review of procedures to improve operational efficiencies and to ensure adherence to bank policies and regulatory guidelines.
- Cross-train in areas within Loan Operations to provide support during changes in volume.
- Perform other related job duties and special projects as assigned.
- Ensures compliance with the South State Bank Code of Business Conduct and Ethics, and other operating policies and procedures.
- Completes compliance training and adheres to all Federal and State regulatory requirements.
Requirements
- High School diploma required; Bachelor’s degree preferred.
- A minimum of 2 years’ experience in a Loan Operations role or equivalent is required.
- Must be knowledgeable in all loan servicing functions including consumer, commercial and mortgage loans.
- Knowledge of Federal and State regulatory items is required.
- Experience with FiServ systems software is preferred.
- Proficiencies with Excel, Word, and other MS Office programs.
Benefits
- Equal Opportunity Employer, including disabled/veterans.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
loan servicingescrow managementtax trackinginsurance trackingPMI managementflood insurance monitoringvendor payment processingaudit tax paymentscompliance trainingoperational efficiencies
Soft skills
analytical skillsattention to detailorganizational skillscommunication skillscross-trainingproblem-solvingteam collaborationadaptabilityinitiativecustomer service