Escrow Officer is responsible for providing escrow information to clients and loan officers. Supervises the preparation and delivery of all necessary escrow documents. Being an Escrow Officer provides mortgage holders with required tax documentation for filing tax returns. Ensures the process and documents are in compliance with all applicable regulations and laws. Additionally, Escrow Officer may require an associate degree. Typically reports to a manager or head of a unit/department. The Escrow Officer supervises a small group of para-professional staff in an organization characterized by highly transactional or repetitive processes. Contributes to the development of processes and procedures. To be an Escrow Officer typically requires 3 years experience in the related area as an individual contributor. Thorough knowledge of functional area under supervision. (Copyright 2024 Salary.com)
PURPOSE
Under the direction of an escrow officer or supervisor, this position prepares escrow documents for the closing of real property transactions in which title is insured, and coordinates the review, document control, and recording of all recordable documents from the company transactions.
ESSENTIAL DUTIES AND RESPONSIBILITIES
· Set up escrow transactions upon receiving new escrow orders. Process deposits of earnest money and mail out necessary forms and preliminary title reports to principals for review.
· Prepare additional documents and/or escrow instructions as instructed by principals based on written instructions to escrow.
· Forward title clearing documentation to title officer for approval.
· Return executed loan packages to lender for review and approval in accordance with lender instructions.
· Prepare and deliver recording packages based on escrow instructions and verifying that appropriate title premiums and recording fees have been collected.
· Disburse escrow files in accordance with the written settlement statements upon receipt of funds.
· Perform clerical duties such as filing, answering phones, typing forms and correspondence
· Assist with scheduling closings, as directed
· Track, investigate and place stop payments on any outstanding un-cleared checks.
NON-ESSENTIAL DUTIES AND RESPONSIBILITIES
· Review recordable documents for accuracy and compliance with county recording requirements,
· Refund lender, seller or buyer on any excess amount collected through closing.
· Assist with receptionist responsibilities
Job Type: Full-time
Benefits:
Schedule:
Education:
Experience:
Ability to Commute:
Ability to Relocate:
Work Location: In person