Escrow Specialist
Sturgis Bank, Sturgis, MI, United States
Summary of Duties
This role will perform diversified functions that require decision making and problem solving with minimal direction. Responsibilities include but are not limited to performing escrow analysis, responding to customer service requests, processing tax vendor requests, processing and working exception reports, processing escrow setup and waiver requests and working various escrow reports as well as other duties assigned. The Escrow Specialist will be knowledgeable regarding all processing of escrow accounts and will have a dedicated focus on either escrow analysis processes and a ssist with escrow disbursements and prepare loan payoff statements. Computer skills are essential. The Escrow Specialist will work independently and must be customer service oriented. Acts as a liaison between the customer and parties involved in transactions. To be successful, should be able to manage clients’ accounts with care and discretion and have good organizational skills.
Responsibilities
Complete loan file maintenance requests
Assist in escrow disbursements
Prepare loan payoff statements
Enter and update client information on the system
Prepare Verification of Mortgages
Non‑post report daily
Annual Responsibilities
Check test analysis to ensure accuracy before annual analysis is mailed to customers
Mail annual analysis statements and escrow checks
Verify escrow payments for accuracy and order coupon books as necessary
Delinquent tax search for all non‑escrowed properties
Provide requested documentation to management for all regulatory audits
Monthly Responsibilities
Pay PMI premiums
Pay home equity report
Pay affidavit report
Pay First Service premiums
Process PMI and voluntary insurance cancellations
Negative escrow reporting
Daily Responsibilities
Check new loan set‑up for accuracy
Check paid note statement for paid and/or refinanced loans
Cancel PMI and life insurance for paid loans
Activate new PMI coverages as necessary
Check non‑post for errors
Pay Property Tax Bills
Indiana property taxes are due in May and November. Michigan city and township taxes are due in September and March (they are billed in December, so we make every effort possible to pay them prior to December 31st) and Village taxes are due in September.
Send request lists to treasurers in appropriate time frames
Verify correct information was received from treasurer’s office
Status loans prior to paying to ensure taxes are not paid on a paid loan
Pay all taxes before due date
Organize paid receipts when received back from treasurers and give to scanning department to be scanned
Pay Homeowners Bills
Opening and separating all incoming mail for homeowners & auto insurance
Retrieve and separate all incoming e‑mails for homeowners & auto insurance
Setting up all insurance on new loans
Input updates on renewals/changes for homeowners & auto insurance
Make changes to update mortgagee clauses when needed to meet compliance requirements
Check on all cancellation notices received to make sure all insurances are accurate & up to date
Send letters requesting homeowners or auto insurance when none is provided or have received a cancellation notice
Pay all escrowed homeowners and flood insurance bills
Place blanket fire insurance when needed on loan
Send out blanket fire annual renewal premium notices
Pay First Service bill each month
Order/run new analysis when needed for blanket fire and home‑owners insurance
Work the expired insurance report
Discharges of Mortgages
Other tasks as assigned.
Supervisory Responsibilities None
Qualifications
Excellent oral, written, and interpersonal communication skills.
Meticulous attention to detail required.
Service‑oriented, polite, and respectful.
Ability to prioritize tasks, multi‑task, and meet deadlines.
Ability to exercise sound judgment, integrity, and honesty.
Flexible, team‑oriented, and willingness to continuously learn.
Be able to work under pressure to adhere by the timelines
Education And/or Experience High School Diploma or equivalent
Certificates, Licenses, Registrations NA
Work Environment General office working conditions exist. Employee may experience sustained moderate/high periods of activity with multiple tasks being performed. They may experience communication with a variety of internal and external sources under favorable and unfavorable conditions. Noise level in the work environment is usually minimal.
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Responsibilities
Complete loan file maintenance requests
Assist in escrow disbursements
Prepare loan payoff statements
Enter and update client information on the system
Prepare Verification of Mortgages
Non‑post report daily
Annual Responsibilities
Check test analysis to ensure accuracy before annual analysis is mailed to customers
Mail annual analysis statements and escrow checks
Verify escrow payments for accuracy and order coupon books as necessary
Delinquent tax search for all non‑escrowed properties
Provide requested documentation to management for all regulatory audits
Monthly Responsibilities
Pay PMI premiums
Pay home equity report
Pay affidavit report
Pay First Service premiums
Process PMI and voluntary insurance cancellations
Negative escrow reporting
Daily Responsibilities
Check new loan set‑up for accuracy
Check paid note statement for paid and/or refinanced loans
Cancel PMI and life insurance for paid loans
Activate new PMI coverages as necessary
Check non‑post for errors
Pay Property Tax Bills
Indiana property taxes are due in May and November. Michigan city and township taxes are due in September and March (they are billed in December, so we make every effort possible to pay them prior to December 31st) and Village taxes are due in September.
Send request lists to treasurers in appropriate time frames
Verify correct information was received from treasurer’s office
Status loans prior to paying to ensure taxes are not paid on a paid loan
Pay all taxes before due date
Organize paid receipts when received back from treasurers and give to scanning department to be scanned
Pay Homeowners Bills
Opening and separating all incoming mail for homeowners & auto insurance
Retrieve and separate all incoming e‑mails for homeowners & auto insurance
Setting up all insurance on new loans
Input updates on renewals/changes for homeowners & auto insurance
Make changes to update mortgagee clauses when needed to meet compliance requirements
Check on all cancellation notices received to make sure all insurances are accurate & up to date
Send letters requesting homeowners or auto insurance when none is provided or have received a cancellation notice
Pay all escrowed homeowners and flood insurance bills
Place blanket fire insurance when needed on loan
Send out blanket fire annual renewal premium notices
Pay First Service bill each month
Order/run new analysis when needed for blanket fire and home‑owners insurance
Work the expired insurance report
Discharges of Mortgages
Other tasks as assigned.
Supervisory Responsibilities None
Qualifications
Excellent oral, written, and interpersonal communication skills.
Meticulous attention to detail required.
Service‑oriented, polite, and respectful.
Ability to prioritize tasks, multi‑task, and meet deadlines.
Ability to exercise sound judgment, integrity, and honesty.
Flexible, team‑oriented, and willingness to continuously learn.
Be able to work under pressure to adhere by the timelines
Education And/or Experience High School Diploma or equivalent
Certificates, Licenses, Registrations NA
Work Environment General office working conditions exist. Employee may experience sustained moderate/high periods of activity with multiple tasks being performed. They may experience communication with a variety of internal and external sources under favorable and unfavorable conditions. Noise level in the work environment is usually minimal.
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