Escrow Job Description
Escrow
provides escrow analysis in accordance with the Real Estate Settlement Procedures Act (RESPA), Housing and Urban Development (HUD), and Federal Housing Authority (FHA) guidelines.
Escrow Duties & Responsibilities
To write an effective escrow job description, begin by listing detailed duties, responsibilities and expectations. We have included escrow job description templates that you can modify and use.
Sample responsibilities for this position include:
Respond to calls from Buyers, Sales, Lender, Title Company, Design Center, Mortgage, and Construction personnel
Reviews customer accounts, market research reports and other market information to determine the availability of business the company's and competitor's share of the market
Represents company in public, customer and community relation activities
Build and maintain relationships with Sales staff, Lenders and Title company representatives
Provide Buyer, Sales, Lender, Title Company, Design Center, Mortgage, and Construction personnel with the various sales and escrow documents, Options Contracts and amendment packages
Train and support junior department staff
Assisting with real estate escrow transactions by gathering, checking, and preparing documents
Operating PBX or multi-line telephone system to answer incoming calls and directs callers to appropriate personnel
Conduct weekly escrow closing meetings with UAMC, sales associates, Controller, and various office and field managers
Supporting office staff with clerical duties that support our pre- and post-closing processes
Escrow Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Escrow
Typically a job would require a certain level of education.
Employers hiring for the escrow job most commonly would prefer for their future employee to have a relevant degree such as Collage and Associate Degree in Education, Technical, Associates, Communication, Accounting, Finance, Business, Real Estate, General Education, Management
Skills for Escrow
Desired skills for escrow include:
MS Office suite
Company
Client operating systems
RESPA rules
Real estate regulations and guidelines
Document preparation
Microsoft Office applications
Front- and back-end processing procedures
Organization and escrow policies and practices
Latest version of MS Office and the ability to word process
Desired experience for escrow includes:
Data entry, sorting, copying and other clerical support as needed
Occasional reception duties
Responsible for the initial review and processing/distribution of all Purchase Agreements and Exhibits, ensuring any errors are corrected
Manage pending sale process
Open new builder escrows in FAST system, which includes initial entry of contract information, scanning of contract documents into the system for multiple States
Order statements from HOA Management Companies
Escrow Examples
1
Escrow Job Description
Job Description Example
Our innovative and growing company is hiring for an escrow. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for escrow
- Ensure department orders tax service contracts with appropriate company timely
- Order and send out title commitments and lender title requests
- Upload and process all items received through FAST Work Queues
- Perform administrative and clerical duties to assist in the escrow process
- Adhere to the rules and regulations of escrow within all operations
- Ensure the reconciliation and timely payments of all regularly scheduled real estate tax and insurance disbursements to avoid penalties and interest for late payments
- Provide guidance, training and ensure all direct supports are in full compliance with all regulatory requirements, procedures and policies
- Review and approve all insurance & tax reports, insurance loss claim checks and lender placed insurance
- Respond to customer inquiries, errors or complaints that pertain to escrow
- Provide reports to management that demonstrate an effective process and control within the escrow area
Qualifications for escrow
- Minimum of 1 year of experience in Escrow handling frontend processing required
- Minimum of 1-2 years experience as an Escrow Asst I or a minimum of 3 years experience in a related real estate or title field
- 5+ years loan servicing experience and/or training
- 2+ years of experience supervising other employees
- Must be able to prioritize, organize, delegate assignments and handle multiple tasks/projects simultaneously
- Monitor work-q’s for fee requests, Closing Disclosure and Settlement Statement preparation
2
Escrow Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of escrow. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for escrow
- Justify the Buyer’s and Seller’s costs against the lender’s instructions, CalAtlantic Homes’ recap sheets, tax and HOA information
- Distribute the Closing Disclosure and Settlement Statement via e-mail for review and approval by the appropriate CalAtlantic Title branches, CalAtlantic Mortgage Loan Closers, CalAtlantic Homes’ divisions and CalAtlantic Mortgage Loan Officers
- Ensure receipt of conversation logs from CalAtlantic Title branches
- Ensure the balancing of all files
- Disburse funds when authorized
- Notify Title branches and Financial Specialist of disbursement
- Strive to meet established daily benchmarks
- Maintain constant communication with the branches regarding current and past Closing Disclosure production, ensuring all questions and problems are addressed in a timely manner
- Work with the Loan Delivery to resolve file discrepancies, and provide clarification and troubleshooting assistance as necessary
- Supporting office staff with various clerical duties
Qualifications for escrow
- Ability to work independently work within a team
- Strong Disclosure Settlement (HUD-1) production background
- Good computer skills (i.e., MS Office, title software, FAST preferred)
- Escrow or loan experience is desired, but not required
- Supervise Escrow Coordinators
- Balance internal escrow system with bank
3
Escrow Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of escrow. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for escrow
- Review and initiate wire transfers
- Verify/approve earnest money deposits from Escrow Coordinators
- Verify/approve disbursements for deal closings
- Lead yearly escheatment filing
- Work with accounting staff on bank reconciliations
- Assist Commissions staff with questions regarding escrow
- Draws documents needed for the closing from real estate contracts and lender closing instructions
- Reviews preliminary title report to verify vesting and legal description
- Trains, assigns and reviews the work of escrow technicians and/or secretaries
- Back up for Escrow Coordinators
Qualifications for escrow
- Solid communication skills to handle escalation issues and office interaction
- Minimum 4 years escrow closer experience
- High school diploma or equivalent required, some college courses/technical training in Accounting or related field preferred, two or more years total work experience in analyzing and reconciling accounts to ensure proper disbursement and collection of property tax and insurance
- Manage Escrow Coordinators
- Solid communication skills to handle regular escalation issues
- Strong system skills (Excel)
4
Escrow Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of escrow. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for escrow
- Responsible for spotting potential closing issues and resolve timely and professionally
- Schedule closings
- Send out projected completion date/closing letters for each buyer
- Manage the loan progress reports from lenders, follow up with Sales Associate on Buyers that are not in compliance with the contract terms, send letters to Buyers for non-performance once the communication with the Buyer by the Sales Associate has occurred
- Receive and review all HUDS before each closing
- Maintain all open and closed escrow files and ensure proper filing
- Order appraisals and PWC as needed
- Must review files for potential closing issues and resolve timely and professionally
- Must attract and maintain a base of customers
- Must prioritize, meet deadlines, and handle multiple tasks
Qualifications for escrow
- Strong customer service orientation * Detail orientation * Excellent verbal communication * Problem solving skills * Strong organizational skills * High School diploma or equivalent * 1- 2 years experience as an Escrow Asst I or a minimum of 3 years experience in a related real estate or title field
- Minimum 1 year escrow processor experience required
- Ability to prioritize, meet deadlines, and handle multiple tasks
- Minimum of two (2) years of experience in an office support position
- Must have at least one (1) year of experience in homebuilding, real estate, lender or escrow fields
- Must have a active FL Escrow Officer license
5
Escrow Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of escrow. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for escrow
- Conduct weekly escrow closing meetings with Eagle Home Mortgage, sales associates, Controller, and various office and field managers
- Provide support to Escrow office by answering phones, greeting customers, placing calls and other clerical duties to assist in completing escrow transactions
- Assists customers by resolving complaints, expediting orders, explaining procedures, pricing schedules
- Monitor outsourcing insurance vendor and activities of the hazard/flood area through various means
- Monitor PMI/MIP area through various means
- Issue accurate Dashboard/SLA reports timely and ensure actual metrics each month meet/exceed metric goals for the department
- Ensure proper and timely training for the department is scheduled and held
- Provide direction and oversight of special projects assigned to the department by management
- Monitor open customer and client complaints related to department activity
- Ensure that escrow buckets are accurate and complete and escrow items are paid in accordance with outgoing bulk transfer requirements with minimal or no open items
Qualifications for escrow
- Strong Disclosure Settlement (formerly the HUD-1) production background
- Must have a active VA Escrow Officer license
- Minimum one year escrow closer experience required
- Two (2) years minimum escrow experience
- Requires the ability to work while functioning under the pressure of problem solving and time sensitive deadlines
- Discretion and care for clients’ privacy