Campus Pride Jobs

Summary: The Escrow and Insurance Administrator manages and administers escrow and insurance requirements for both the Residential and Commercial loan portfolios. Primary responsibilities include procurement and payment of assigned lender paid escrowed items, including Flood Insurance, Homeowners Insurance, Property Taxes, PMI, and FHA premiums prior to their due date avoiding any and all penalties and interest. Evaluates loans and performs escrow analysis both when requested and annually to ensure all escrowed loans remain compliant. Serves as the subject matter expert and main operational contact to assist customers with inquiries and resolve exceptions related to escrow and insurance.

Job Responsibilities:

• Real Estate Tax

• Serves as the primary contact for all real estate tax municipalities.

• Remits, via the Core Banking system, real estate taxes held in escrow to the various municipalities as due, including but not limited to NJ, PA and NY.

• Proves taxes to the TAR provided by the property tax vendor prior to the remittance.

• Processes tax remittances to management companies.

• Processes special tax remittances on dual town properties, R.E.O. properties, etc.

• Receives and reviews tax bills on new loans on an ongoing basis.

• Verifies tax bills to computer file once received and enters into Core Banking System.

• Insurance

• Serves as the primary contact for all assigned insurance agencies and Vendor relationship in overseeing insurance monitoring through life of loan.

• Ensures hazard and flood insurance coverage is in place for all mortgages, commercial loans, home equity loans and home equity advance lines of credit.

• Ensures the proper notification and processing of forced placed insurance in the event the borrowers fail to provide proof of insurance coverage. Refers violations to the collections area.

• Remits flood insurance and hazard premiums when required, as well as monthly premiums due for PMI, FHA and VA loans.

• Customer and Operational Support

• Serves as the subject matter expert to assist customers with inquiries and resolve exceptions related to tax payments and insurance (escrow analysis).

• Serves as the main operational contact and is accountable for all departmental processes as it relates to the escrow lifecycle, including reconciliation of open billing items for tax and insurance, mortgage insurance, and escrow analysis.

• Researches and processes tax refunds, working with the tax authorities to research legal descriptions and determine tax payors. Provides additional coordination with the tax authority and payee to make corrections as needed. Once research is complete, review the loan to determine if any payment adjustments are needed.

• Provides, as needed, to department and senior management, reporting of activity trends and other applicable metrics used to monitor/measure overall performance and integrity of loan portfolios relating to escrow and insurance.

• Job Knowledge and Compliance

• Maintains a current knowledge and full understanding of relevant Bank policies and procedures and regulatory guidance including analysis of new and pending laws and regulations to maintain department compliance (NFIP, Regulation X, etc.).

• Utilizes and navigates Bank systems to monitor the integrity of data entered into the Bank's core system for the life of the loan.

• Ensures compliance with all regulations pertaining to RESPA, BSA, USA Patriot Act, OFAC and other Bank policies and procedures.

• Other Responsibilities

• Provides assistance and support for all functions and responsibilities of the Loan Servicing Department.

• May work independently on Special Projects within the Department interacting with all levels of management.

Job Requirements:

• High School Diploma or equivalent required.

• Minimum of two years of related experience preferred.

• Knowledge of FNMA, FHLMC, FHA, and VA loan servicing procedures and regulations preferred;

• Must have proficient math skills and be able to calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs;

• Must have knowledge of loan servicing procedures and property taxes;

• Effective organizational and time management skills;

• Must have excellent customer service skills;

• Must be flexible and adaptable in a changing environment;

• Proficient PC skills, including a thorough knowledge of Microsoft Word, Excel and Outlook;

• Excellent written and verbal communication skills.

  Columbia Bank and its affiliates is an Equal Opportunity Employer

  Affirmative Action Employer/Males/Females/Protected Veterans/Individuals with Disabilities